Capitol Hill Campus

This course examines the role of the Privileges or Immunities Clause of the Fourteenth Amendment in the protection of individual rights and its application to state-imposed limits on the Second Amendment right to bear arms in McDonald v. City of Chicago. The Privileges or Immunities Clause of the Fourteenth Amendment has long been relegated to the backstage of constitutional jurisprudence. Justice Thomas’s concurring opinion in McDonald v. City of Chicago, however, brings the Privileges or Immunities Clause to center stage. Is this simply a brief appearance for the constitutional clause or something more? Professor Eric Claeys considers the role of the Privileges or Immunities Clause in the protection of individual rights, and reviews three leading theories on the interpretation of the Privileges or Immunities Clause. Professor Joyce Malcolm provides a brief history of Second Amendment law, a critique of the Supreme Court opinions District of Columbia v. Heller and McDonald v. City of Chicago, and a discussion about the competing standards for incorporation as well as Justice Thomas’s effort to return the Privileges or Immunities Clause to its original purpose.

Over the past decade a number of African countries have made important strides in improving their economies. nbsp;Higher rates of economic growth are contributing to poverty alleviation in this poorest region of the world.nbsp; Increased regional and global integration, coupled with reduced levels of conflict, are making sub-Saharan Africa a more appealing venue for foreign investment. A number of serious legal and institutional barriers, however, continue to deter economic development and the advancement of human rights in sub-Saharan Africa.nbsp; Insecure property and tenure rights drive conflict, contribute to human rights violations, stifle agricultural productivity, and lead to environmental degradation.nbsp; In addition, government corruption deters economic investment and growth and perpetuates human rights abuses

Since 2000, the Federal government has sent a tidal wave of money to state and local governments. Federal grants to states and localities increased by 73% in the past decade and will reach roughly $439 billion this year alone. Designed to aid states struggling with budget shortfalls and to promote particular federal policy objectives, this flood of cash is widely seen as an unqualified good by both Federal and State legislators. Mercatus Senior Research Fellow Eileen Norcross and Mercatus Research Fellow Matt Mitchell lay out the many ways that well-intentioned federal grants to state and local governments contributes to skyrocketing state budget shortfalls, and how the interplay of state and federal budgeting rules promotes a cycle of pernicious deficits.

Federal spending, debt, and deficits are at record highs. Both parties acknowledge the need for spending cuts. However, reform is easier said than done. Independent commissions are often suggested as a way to tackle such intractable political problems, but not all commissions are the same. The Base Realignment and Closing (BRAC) commission of the late 1980’s and early 1990’s proved an exemplary solution to such public choice problems. In the 1980’s, we faced a similar deficit, debt, and spending problem. What lessons can we learn from BRAC? What made it special? What made it successful? Can those lessons be implemented to curb spending now?

This Continuing Legal Education course examines the interplay of federal and state common law with an emphasis on the impact of changes in federal law upon common law fiduciary duties in corporate governance.

Although the United States is in the midst of a financial crisis and an economic recession, immigrants keep coming, but who is coming?nbsp; Immigration is often categorized into various distinctions; legal vs. illegal, low-skilled vs. high-skilled.nbsp; Within the political debate a significant amount of emphasis is placed on low-skilled illegal workers, but what about the high-skilled immigrants? How do they impact our country?Each year companies from around the United States are able to temporarily employee foreign workers in specialty occupations. These occupations include and are not limited to positions in architecture, medicine, engineering, mathematics, and education.nbsp; For these workers to legally reside in the country, the federal government issues them an H-1B visa which is meant only for high-skilled foreigners.Now that our economy has weakened and many people are unemployed, the debate around immigration may shift towards these H-1B visas and if foreigners should be able to enter the country for jobs that could otherwise be employing Americans. To address the issue of high-skilled immigrants, the Mercatus Center at George Mason University is proud to present a lecture by Dr. Antony Davies, Associate Professor of Economics at Duquesne University.nbsp; Dr. Davies presents the latest research on high-skilled immigration and its impact on the American Economy.

Taxation has always been a major part of American politics and continues to be a focus for debate and discussion.nbsp; Policymakers aim to create a tax system that meets the government’s needs and goals yet does not hinder the individual or corporation to a significant extent.nbsp; To better understand the economics of taxation and our current tax system, the Mercatus Center at George Mason University is pleased to present a two-day course on the American Tax System.As April 15th approaches and families and corporations start filing tax returns, the affect of taxes becomes more apparent.nbsp; How will taxes influence firms’ and people’s actions and how will it affect the economy as a whole?nbsp; To better understand the economics of taxation, Dr. Garett Jones of George Mason University will provide a fundamental overview and explore how shifts in tax policy affect individual behavior and the economy as a whole.Join us as we examine such questions as:What factors do economists consider when studying tax policy?How do taxes affect the incentives of individuals and firms?What are the economic and social trade-offs of different types of taxes and taxation systems?What does the demographic breakdown of our American tax burden look like?How will tax cuts change where our federal revenue comes from?

When the top executives from the “Big Three” auto manufacturers came to Washington to seek aid from the federal government they claimed that the domestic auto industry was vital to the overall U.S. economy.nbsp; Certainly, it has been key to Michigan’s economy for many decades. Yet while the state continues as the center of the U.S. auto industry, its role has been diminished as foreign automakers tended to locate their production facilites in the southern states.nbsp; As a result, the geography of the auto industry has changed rather dramatically in the last 30 years.In addition to the auto manufacturers, the auto industry includes many motor vehicle parts suppliers. That part of the industry is large – parts suppliers contribute about 70% of the value added of a motor vehicle – but not as well understood as the assembly sector.Dr. Thomas Klier from the Federal Reserve Bank of Chicagoand co-author of the new book, “Who Really Made Your Car? Restructuring and Geographic Change in the Auto Industry” will join the Capitol Hill Campus Program for a special look at the auto industry.In this session we will address questions such as:What role do parts suppliers play in the overall auto industry and why are they important?Where are auto manufacturers locating new plants? What is the “auto corridor”? Are producers moving out of the Midwest?What may the auto industry look like in the next decade?

With the first phase of TARP behind us, and TARP II ready to begin, this course will examine some of the potential challenges and hazards of this extraordinary involvement in the financial sector. With the federal government taking various degrees of ownership of banks, what can policymakers expect will be the outcome? In the third installment of our ongoing series on the current financial crisis, the Mercatus Center will present a panel of experts to discuss these issues and answer important questions, such as:What conflicts could arise between the interests of shareholders and those of taxpayers?What will be the Treasury’s duties to shareholders and how will companies pursue their traditional ends of wealth maximization?What’s the difference between preferred and common stock, and how does each change the role the government will play?What are the benefits and costsnbsp;of creating an Aggregator Bank?What lessons can we draw from other countries’ experiences in similar interventions in light of this new role for government?What alternatives are available under TARP to recapitalize banks using existing resources?

Every year the president presents a proposed budget to the Congress and the Congress drafts a budget resolution, spurring heated discussion about the nation’s spending and tax policies and the resulting deficits or surpluses. Though this year’s process will follow this basic pattern, the financial crisis and the economic recession have significantly increased our nation’s budgetary challenges.nbsp; The Congressional Budget Office recently announced a projected budget deficit of $1.2 trillion for the current fiscal year, which does not count the likely costs of an economic stimulus package and additional appropriations for war fighting.nbsp; Medium- and long-term projections show budgets that most think are unsustainable.In recent years, discontent with the current budget process has grown.nbsp; In response, congressional leaders and others have proposed a variety of budget reforms, such as stronger PAYGO rules, earmark limits, procedural triggers for excessive mandatory spending, and budget policy commissions.nbsp; While many of these proposals have not yet received sufficient support to be adopted, the exploding debt of the U.S. will soon force the Congress to consider credible reforms to its budget process.To discuss the current budget situation and possible reforms to the federal budgetary process, the Mercatus Center at George Mason University will host a lecture by Dr. Roy Meyers, a budgetary expert and former analyst at the Congressional Budget Office (CBO). Join us as we address such questions as:What is our current budget situation and how will the projected deficits affect us?What are the symptoms of a broken budget process? What are the major proposals to fix it?Will these proposed reforms work? Are there better alternatives?

Why do some societies prosper, while others remain stagnant and poor? Why do some economies remain strong while others fail? The Mercatus Center’s Global Prosperity Initiative works to answer these important questions by conducting scholarly research that helps policy makers better understand the driving forces behind international economic development as well as economic growth and opportunity in the United States. In this program, Mercatus scholars will share some of their recent findings and explore the problems of domestic and international economic development and how scholarly nbsp;research is helping to address these questions.Fear of a deep recession has led policymakers to propose an unprecedented stimulus package to save the economy, a sort of Main Street economic recovery package that would rely heavily on federally-funded infrastructure projects to create jobs and stimulate economic activity. How have similar measures performed in the past, and what concerns should policymakers consider when evaluating such policy? What institutional structures support economic growth and opportunity?Looking across the Atlantic Ocean leads us to another but related question: While most regions of the world witness increased standards of living, better health care, and greater economic opportunity, why does sub-Saharan Africa continue to face famine, wide-spread disease, high levels of political corruption, and war? While South Africanbsp;has managed to avoid some of the most catastrophic problems associated with their neighbors, they have still been plagued with economic and social troubles that no promised silver bullet has yet addressed.In April, South Africa faces the most important election in since that transition. nbsp;What effect will the emergence of a new major party have on the election? What implications does the election have for US policy towards South Africa and the continent?

In part two of our successful ongoing series, the Mercatus Center’s Financial Markets Working Group will present a panel of experts on various aspects of the financial crisis and its implications for policy. What does Congressional staff need to know about financial markets? How should policy be crafted in light of lessons from economics? What should regulation of the financial and banking sectors looks like?Drawing upon the Mercatus Center’s expertise in regulatory analysis, the Financial Markets Working Group combines scholarly research with a deep understanding of the policy process to offer productive ideas to address the serious problems in financial markets. In this, the Group’s second event for Congressional and Agency staffers, our scholars will provide a substantive briefing of some of the underlying issues currently being debated in Congress, such as:How does industry react in the face of regulatory reform? What insights can economics provide on the issues of regulatory capture and rent seeking by regulated industries? What steps can policymakers take to ensure they are making the best decisions?What exactly does it mean when a company files for bankruptcy? What is the difference between a Chapter 11 and a Chapter 7 filing? What role can courts play in reorganization of insolvent firms?What rights do shareholders have when disagreements arise about the management of a firm? How can the use of proxies help or hinder the exercise of these rights? How does the Governments role as a large stakeholder in the financial services sector change this dynamic?How are economists viewing the overall situation still unraveling in the financial markets? What unique perspective can academics bring to the table?

This month the National Bureau of Economic Research dating committee officially listed December 2007 as the start of the current recession due to weakness in labor and consumer markets. As the unemployment rate inches up to 6.5% workers may receive a little comfort from sinking gasoline prices, but they still wonder how long this period will last and how severe it will become. Taking cues from economic indicator data and other forecasts, Dr. Bruce Yandle will provide perspective on the latest economic trends in a way that is understandable to the economist and non-economist alike. This “birds-eye-view” of the economy will be valuable to staffers interested in promoting policies intended to aid economic performance.Topics to be discussed shall include:Is it possible to predict the length and severity of a recession?How can we tell which states or regions may fare better or worse in a recession?Should we be glad to see lower gasoline prices and what does the dramatic shift from the summer mean for the economy?

The start of a new administration will offer the nation’s next president the opportunity to put his stamp on regulation and the regulatory process. Every president in the last generation has modified the way the federal government utilizes regulation as a tool to solve problems that all Americans care about, including a healthy environment, stable financial markets, safe consumer goods, and workplace health and safety.Though the goal of regulation remains the same, today the regulatory process is confronted with a rapidly-changing world and a globally integrated society. Currently regulators face fragile financial markets, new technologies and interdependent economies. In order for regulation to remain ahead of the curve it must adjust to the advancing world, but what does this look like?Mercatus scholars will presented an insightful look on regulation and offer innovative ideas for reforming regulation to suit the needs of the 21st century. We addressed such questions as:How can the regulatory process be effectively reformed to meet the needs of a rapidly-changing world?How can the lessons of economics be applied to the regulatory process?How can regulations be used to better address the problems of the 21st century?

Trade policy is a perennial issue continually debated in the national forum by pundits and policy makers alike since it is so closely linked to the overall health of the economy. Now, as we head into 2009, some things look a lot different from a year ago. With changing economic conditions, fears of recession, a new legislative session, and a President-elect promising to transform the way America interacts with the world, it is clear that trade and globalization issues will continue to weigh heavily on the economic mindset. While most debate usually centers on the hot-topics in trade, such as Free-Trade Agreements passing through Congress or the decline of American industry, less attention is paid to the overall qualities and characteristics of the U.S. trading system.To take a look at a few of the current realities in American trade policy, the Mercatus Center will host a lecture by Edward Gresser, the Director of the Project on Trade and Global Markets at the Progressive Policy Institute and author ofnbsp;Freedom From Want: American Liberalism and the Global Economy. Specifically, Mr. Gresser will speak on trade with the developing world, protectionism and the effects of various trade policies.Join us as we take a closer look at:How are goods assembled and traded through the global supply train? How does this process relate to Free-Trade Agreements or a nation’s preferred trading partner status?Does the United States still employ trade barriers to protect U.S. markets? If so, on what types of goods from which countries?What is the role of trade in the United States and what are some options for the next President to create greater welfare at home and abroad?