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  • June 2022 (Revised November 2022)
  • Case

The Almost Nearly Perfect People: Sweden's Utopia at a Crossroads
By: Debora L. Spar and Julia M. Comeau
Sweden’s model of capitalism rests on a unique social contract, in which social welfare priorities can co-exist within a vibrant capitalist system. In 2022, however, contemporary pressures were growing on the traditional Swedish model, including mounting calls for...  View Details
Keywords: Capitalism; Social Welfare; Policy; Privatization; Immigration; Social Issues; Civil Society or Community; Government and Politics; Sweden
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  • 2023
  • Working Paper

Faith and Assimilation: Italian Immigrants in the U.S.
By: Stefano Gagliarducci and Marco Tabellini
How do ethnic religious organizations influence immigrants' assimilation? We study this question by focusing on Italian Catholic churches in the US between 1890 and 1920, when four million Italians moved to America, and anti-Catholic sentiments were widespread. We...  View Details
Keywords: Assimilation; Religious Organizations; Immigration; Religion; History; United States
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  • 2021
  • Book

Global Goliaths: Multinational Corporations in the 21st Century Economy
By: C. Fritz Foley, James R. Hines Jr. and David Wessel
Globalization and multinational corporations have long seemed partners in the enterprise of economic growth: globalization-led prosperity was the goal, and giant corporations spanning the globe would help achieve it. In recent years, however, the notion that all...  View Details
Keywords: Multinational Firms and Management; Globalization; Economy; Economic Growth; Equality and Inequality; Employment; Policy
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  • January 2020
  • Article

Gifts of the Immigrants, Woes of the Natives: Lessons from the Age of Mass Migration
By: Marco Tabellini
In this paper, I jointly investigate the political and the economic effects of immigration and study the causes of anti-immigrant sentiments. I exploit exogenous variation in European immigration to U.S. cities between 1910 and 1930 induced by World War I and the...  View Details
Keywords: Political Backlash; Age Of Mass Migration; Cultural Diversity; Immigration; History; Economy; Attitudes; Cross-Cultural and Cross-Border Issues; Diversity
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  • Article

The Right and Wrong Way to Do ‘CEO Activism’
By: Aaron K Chatterji and Michael W. Toffel
CEO activism—where leaders take public stands on controversial social and political issues that aren’t related to their company’s bottom line—has become increasingly common. CEO activism has attracted favorable media attention, but has also resulted in backlash and...  View Details
Keywords: Leadership; Social Issues; Communication Strategy; Performance Effectiveness
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  • Article

Perceptions and the Politics of Finance: Junk Bonds and the Regulatory Seizure of First Capital Life
By: S. C. Gilson, H. DeAngelo and L. DeAngelo
In May 1991, one month after seizing Executive Life, California regulators seized First Capital Life (FCLIC). Both insurers were Drexel clients with large junk bond holdings, and both had experienced 'bank runs.' FCLIC's run followed regulators' televised comments that...  View Details
Keywords: Finance; Bonds; Governing Rules, Regulations, and Reforms
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  • Forthcoming
  • Article

The Political Effects of Immigration: Culture or Economics?
By: Alberto Alesina and Marco Tabellini
We review the growing literature on the political economy of immigration. First, we discuss the effects of immigration on a wide range of political and social outcomes. The existing evidence suggests that immigrants often, but not always, trigger backlash, increasing...  View Details
Keywords: Political Backlash; Cultural Beliefs; Immigration; Political Elections; Outcome or Result; Social Issues; Perception
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  • Forthcoming
  • Book

The State and Capitalism in China
By: Meg Rithmire, Margaret M. Pearson and Kellee S. Tsai
This element explains China's political economic evolution from state socialist economy to a reform era state capitalism model to a more politicized, risk management approach we call "party-state capitalism." We emphasize the internal and external sources of perceived...  View Details
Keywords: China; China's Political Economy; State Capitalism; State-business Relations; State Ownership; Economic Systems; Government and Politics; Governing Rules, Regulations, and Reforms; China
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