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Given the large gap in earnings and its astonishing widening in recent years, Americans who earn more should pay proportionally more and poorer Americans should pay less.The economic problems facing the next U.S. president are well-known. To be specific, they must find ways of making their fiscal policies much more flexible.As articulated in the Cartagena conference, the issues of particular concern to developing countries that would need to be addressed included provision of adequate liquidity, mechanisms for appropriate macroeconomic governance, appropriate provisions for longer-term development finance, procedures to be employed for the exchange rate regime, and provisions governing the liberalized and vastly increased flows of private portfolio capital. This doesn’t weaken his argument; if anything, it’s consistent with the trend he describes in the rise of niche communities in everything from religion to commerce: if people excluded from full participation in the church are less inclined to identify as Catholics, historically disenfranchised people are also less inclined to identify as patriots, or as families, or with any structuring unit that has historically produced alienation within them.That said, The End of Power is admirably restrained in its ratio of prescription to description. Despite the fact that the Great Recession originated in the United States, between 2006 and 2011 the country attracted $1.39 trillion in foreign direct investment (FDI), or 13.7 percent of the global total. U.S. GDP per capita is about 40 percent higher than the OECD average. A recent study by the OECD, for example, found that in the United States, fathers’ incomes are much more predictive of their sons’ incomes than in Australia, Canada, the Scandinavian countries, and much of Western Europe, suggesting that earnings mobility is more limited. Moisés Naím (born July 5, 1952) is a Venezuelan journalist and writer. In my view, however, they cannot come before there have been significant improvements in national policies and, more important, improvements in the policymaking processes of the major industrial countries.It is thus very clear that exchange rate instability is a continuing threat to a liberal trade policy regime.The current concerns must be addressed in a variety of ways, including the development of an agreed new regime for private international capital flows that clarifies the circumstances in which controls are appropriate and provides for greater cooperation among central banks in their application and monitoring, as well as the extension of existing swap and cooperation arrangements among central banks to include those that have not so far benefited much from them, notably the developing countries. In the coming years, nothing threatens more the stability and the effectiveness of these institutions than the possibility that their shareholders continue to behave as absentee owners, becoming interested in their collective property only when they realize that it is in great and evident danger. To address the first analytical issue, the book advances an interactive approach to explain how market-oriented reform policies shape the behavior of collective actors, and simultaneously, how collective actors in civil society support, oppose or modify the boundaries of reform policies already in place. The United States stands out among other advanced democracies in that the government taxes its citizens relatively lightly and plays a relatively small—and diminishing—role in redistributing income from high earners to lower earners.