Knowledge that Transforms

T here are two chapters in the ERP that deal with globalization, one on immigration and another on international trade. Both are topics that have given the Bush Administration heartburn. Before 9/11, the administration upset Republican lawmakers by suggesting it might endorse an amnesty to illegal immigrants. After 9/11, and the discovery that several of the hijackers were in the country illegally, discussion of an amnesty was quietly shelved. On trade, the first Bush term witnessed conflict with Europe over U.S. tariffs on imported steel and tax subsidies to U.S. exporters, outcry over former CEA chairman Gregory Mankiw's approving remarks on global outsourcing by U.S. companies, and battles in Congress over the Central American Free Trade Agreement and other proposed trade treaties. This legacy may account for the somewhat defensive tone the

The list below specifies doctoral degrees conferred by U.S. and Canadian universities during academic year July 2004 to June 2005. Lists of degree recipients and subject classifications are provided by the university. Note: Dissertations without classifications may be found under “Y Miscellaneous Categories.”

The Journal of Economic Literature (JEL) regularly reviews books of interest to the economics profession. The Economic Report of the President (ERP) falls under that purview and beginning this year, the JEL will be reviewing the ERP. Toward that end, I have asked a handful of very prominent economists to review the 2005 ERP. Reviewers were chosen to reflect expertise on what I guessed would be key issues. Reviewers were given the following instructions: The ERP in principle should provide an accurate assessment of the consensus professional views of economists on any given issue, based on the research to date. Does the discussion in the ERP in fact accurately summarize what we as economists know? Reviewers were given free rein over what material they would review in the ERP but were urged to focus on their areas of particular expertise. In the reviews that follow, Joel Slemrod reviews the discussion of tax reform. Joe Farrell reviews the ERP's chapter titled “Innovation and the Information Economy.” Gordon Hanson reviews the chapters on international trade and on immigration. Robert Hall reviews the discussion of the adverse macroeconomic impact of rising oil prices while Jonathan Gruber reviews the ERP chapter titled “Expanding Individual Choice and Control.” Many thanks to the reviewers for the quick turnaround.