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December 2016




"It isn’t enough to talk about peace. One must believe in it. And it isn’t enough to believe in it. One must work at it."

~ Eleanor Roosevelt


Table of Contents

·         EPS News

·         In Other News

·         Links

·         Funding & Employment Opportunities

·         EPS Publications

·         Action Corner

·         Upcoming Events

·         How Can I Help?



EPS News


Economists for Peace & Security

cordially invites you to join us in honoring

Sheila Bair

Saturday, January 7, 2017

Reception at 6:30pm · Dinner at 7:30pm

Hyatt Regency Chicago

Chicago, Illinois
Register online here

Sheila C. Bair is the President of Washington College, a historic liberal arts school located on Maryland’s scenic Eastern Shore. Ms. Bair assumed office at the College on August 1, 2015.

Ms. Bair is perhaps best known for her service as the 19th Chairman of the Federal Deposit Insurance Corporation for a five-year term, from June 2006 through July 2011.

Ms. Bair has an extensive background in banking and finance in a career that has taken her from Capitol Hill, to academia, to the highest levels of government. Before joining the FDIC in 2006, she was the Dean’s Professor of Financial Regulatory Policy for the Isenberg School of Management at the University of Massachusetts-Amherst since 2002.

Other career experience includes serving as Assistant Secretary for Financial Institutions at the US Department of the Treasury (2001 to 2002), Senior Vice President for Government Relations of the New York Stock Exchange (1995 to 2000), a Commissioner of the Commodity Futures Trading Commission (1991 to 1995), and Research Director, Deputy Counsel and Counsel to Senate Majority Leader Robert Dole (1981 to 1988).

Ms. Bair received a number of prestigious honors during her tenure as FDIC Chairman. In 2008 and 2009, Forbes Magazine named Ms. Bair as the second most powerful woman in the world, after Germany’s Chancellor Angela Merkel. Also in 2008, Ms. Bair topped The Wall Street Journal’s annual 50 “Women to Watch List.” In 2009 she was named one of Time Magazine’s “Time 100″ most influential people; awarded the John F. Kennedy Profile in Courage Award; and received the Hubert H. Humphrey Civil Rights Award. In 2010, Ms. Bair was featured on the cover of TIME Magazine with Mary Schapiro and Elizabeth Warren as “The New Sheriffs of Wall Street.” Also in 2010, she received the Better Business Bureau’s Presidents’ Award. In December of 2011, subsequent to leaving office, Ms. Bair was named by the Washington Post and Harvard University as one of seven of America’s Top Leaders.


EPS at The 2017 ASSA/AEA Annual Meetings
Hyatt Regency Chicago, Illinois January 6 - 8, 2017

Every year EPS participates in The ASSA/AEA Annual Meetings, we organize two sessions and host our annual dinner in honor of a prominent member of our community. What some may not know is that we also set up a booth in the exhibit hall where we showcase what EPS has been working on. This year we are inviting you to be represented at our booth. Have you been working on a paper, project or book in line with EPS’s mission? If so send us a summary, we’d love to read it.

Peace Sciences from Theory to Practice (Panel Discussion)
Saturday, Jan. 7, 2:30 PM– 4:30 PM
Hyatt Regency Chicago, Ogden

Chair: Jurgen Brauer

·         Charles Anderton

·         Raul Caruso

·         John Paul Dunne

·         Raymond Gilpi

·         Shikha Silwa

The Future of Growth (Panel Discussion)
Sunday, Jan. 8, 8:00 AM – 10:00 AM
Hyatt Regency Chicago, Regency D

Chair: James K. Galbraith

·         Jonathan Ostry

·         Robert Gordon

·         Anwar Shaikh

·         Gerald Friedman

For more information or to submit a paper or proposal, contact Ellie Warren here:



A Trust Fund for Veterans
By EPS Linda J. Bilmes for Democracy, Winter 2016 Issue

At a time when public confidence in our political institutions is near an all-time low, the U.S. military retains almost universal respect. Unfortunately, this respect hasn’t translated into a guarantee of a secure future for the veterans of Iraq and Afghanistan. As with previous wars, the costs of providing care will peak several decades after these wars have ended. Benefits for World War I veterans peaked in 1969 and for World War II veterans in 1986; payments for Vietnam-era vets are still climbing.

This time around, for a host of reasons, veterans’ costs will be much steeper. Half of the two million troops who have served in Iraq and Afghanistan have already been awarded lifetime disability benefits. Higher survival rates from injuries, better medical treatment, more generous disability compensation, and an unprecedented level of physical and mental health conditions among returning troops mean that the cost of providing lifetime disability and health-care benefits will easily surpass $1 trillion in the coming decades. Where will the money come from?


Call for Papers - 21st Annual Conference on Economics and Security

The 21st Annual Conference on Economics and Security will take place June 22 - 23, 2017 at the Royal Military Academy, Brussels.

This Conference is organized by Cind Du Bois (Royal Military Academy Brussels), Caroline Buts (Vrije Universiteit Brussels) and Paul Dunne (University of Cape Town, EPS UK).

Organizers welcome contributions from economists, political scientists and others from around the world to share ideas and discuss the future developments in different research areas related to peace and security.

Abstracts (up to 300 words) should be submitted before April 1, 2017 to be considered for the conference.

For further information or to submit a paper or panel proposal, contact:
Cind Du Bois: cindy.dubois@rma.ac.be



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EPS on Social Media




In Other News

G20 task force wants companies to come clean on climate risk
By Nina Chestney for Reuters, December 14, 2016

Companies will be asked to disclose how they manage the risks to their business from climate change and greenhouse gas emission cuts by a global task force set up to try to prevent market shocks from the warming of the planet.

Although the measures recommended by the Task Force on Climate-Related Financial Disclosures (TCFD) are voluntary, some of its members argue they should become mandatory.

"Only then will climate risk become integral to corporate governance and how we all do business," Mark Wilson, chief executive of insurance firm Aviva Plc, said in a statement.

The TCFD was called for by the Group of 20 economies and set up by the G20's Financial Stability Board (FSB).


The Fall of Aleppo
By Aron Lund for IRIN, December 13, 2016

In a rapid offensive lasting less than a month, forces loyal to Syrian President Bashar al-Assad have recaptured the last opposition enclave in east Aleppo. On Monday evening, the army cleared street after street as artillery and air strikes pounded rebel positions northeast of Ramouseh district. By midnight, only a tiny speck of territory remained in opposition hands and celebratory gunfire lit the darkened skies over west Aleppo. On Tuesday evening, finally, news came of a deal brokered by Russia and Turkey that would see the remaining rebel fighters evacuate to opposition-held territory outside Aleppo, while civilians were to remain in the city under government control.



We Don't Calculate the True Cost of Our Inhumane, Illogical, Chemical-Based Food System
By Patrick Holden for Alternet, December 12, 2016

The true cost of food has been an issue that has affected me since the beginning of my farming life. Ever since I started farming back in the 1970s, I produced milk, wheat and carrots as sustainably as I could manage, but found it difficult to compete with my neighbors who were using chemical production methods, heavily subsidized through the Common Agricultural Policy.

It did occur to me that the root of the problem was connected to the failure of the market to take into account the cost of the damage done by such chemical methods to the environment and public health, evidence of which I recently uncovered when I found a copy of an old article in the Guardian newspaper written in 1984 in my garage. It featured the Sustainable Food Trust board member, Peter Segger, and I asserting that intensively produced crops reliant on pesticides and fertilizers did not actually produce cheap food at all, despite what the price on the shelf may say.


Funding & Employment Opportunities

Postdoctoral Fellowship on the Economics of Conflict
International Crisis Group and Empirical Studies of Conflict Project
New York, New York

The International Crisis Group and the Empirical Studies of Conflict Project seek applicants for a two-year Postdoctoral Fellowship position. Requiring close work with Crisis Group experts and ESOC academic researchers, the fellowship will entail policy research and analysis related to conflict prevention and resolution, as well as long-term empirical research on the economic and political drivers of conflict. We are interested in how conflict relates to rebel financing and/or state corruption, though will consider other thematic focuses.


EPS Publications 

 The Economics of Peace and Security Journal, Volume 11, Number 2 (2016)

The Stockholm International Peace Research Institute (SIPRI) has long been researchers' primary source for countries' military expenditure data. For the most part, the data were limited to the time period from 1988 onward. Now, SIPRI is releasing revised and backdated data for, in most cases, 1960 onward. The articles in this issue of EPSJ examine the new data and use them for comparative studies relative to the use of the "old" SIPRI data. By way of introduction, the lead article by Sam Perlo-Freeman and Elisabeth Sköns, the previous and current leaders of SIPRI's military expenditure data project, relates the history of SIPRI's military expenditure data construction. Gulay Gunluk-Senesen compares the "old" and "new" SIPRI data for the cases of Greece and Turkey. So does Eftychia Nikolaidou, but for Greece, Portugal, and Spain and with an emphasis on reexamining the nexus between miltiary expenditure and economic growth, especially in light of the post-2008 global financial and EU-debt crises. Christos Kollias and Suzanna-Maria Paleologou broaden the scope to study the EU15 countries, focusing on growth, investment, and military expenditure. Julien Malizard also studies the EU15, focusing on military versus nonmilitary public expenditure. Mohamed Douch and Binyam Solomon broaden the scope even further, to eleven Middle Power countries. Finally, J. Paul Dunne and Nan Tian include nearly 100 countries in their comprehensive and comparative study of military expenditure and economic growth with the "old" and "new" SIPRI data.

Table of Contents

Snakes and ladders: The development and multiple reconstructions of the Stockholm International Peace Research Institute's military expenditure data
Sam Perlo-Freeman, Elisabeth Skons

Some exercises with SIPRI's military expenditure alpha (a) data: Same story for Greece and Turkey?
Gulay Gunluk-Senesen

Greece, Portugal, Spain: New evidence on the economic effects of military expenditure using the new SIPRI data
Eftychia Nikolaidou

Investment, growth and defense expenditure in the EU15: Revisiting the nexus using SIPRI's new consistent dataset
Christos Kollias, Suzanna-Maria Paleologou

Military expenditure and economic growth in the European Union: Evidence from SIPRI's extended dataset
Julien Malizard

A dynamic panel analysis using SIPRI's extended military expenditure data: The cas of Middle Power nations
Mohamed Douch, Binyam Solomon

Military expenditure and economic growth, 1960-2014
J. Paul Dunne, Nan Tian 

The Journal is a peer-reviewed online publication hosted by EPS. Published twice yearly, it raises and debates issues related to the political economy of personal, communal, national, international, and global peace and security. Previous contributors include Joseph Stiglitz, James Galbraith, and Lawrence Klein. The Journal’s website also features book reviews submitted by members and subscribers.

EPS members receive a 50% discount on the annual subscription to the Economics of Peace and Security Journal. A regular one-year subscription is $50; for EPS members, it's only $25!

For more information about the Journal or to subscribe:

To become a member of EPS (and qualify for the subscription discount):



EPS Quarterly, Volume 28, Issue 3, September 2016
The “Crisis of Austerity” Issue 

This issue is comprised of edited transcripts from a panel session held during the Allied Social Sciences Associations meetings in San Francisco, CA, January 3, 2016. 


Chair: Marshall Auerback

            Patrick Honohan
            Jeffrey Sommers
            James K. Galbraith


EPS Quarterly, Volume 28, Issue 2, June 2016
The “National Security and Transparency” Issue 

This issue is comprised of edited transcripts from a panel session held during the Allied Social Sciences Associations meetings in San Francisco, CA, January 3, 2016. 


Chair: Richard Kaufman

            Linda J.Bilmes
            Ron Unz
            Richard P.F. Holt
             Daniel Ellsberg


Action Corner

Letter on the need for urgent measures to avert a nuclear war
Defend Democracy Press

Summary of Recommendations:

·         Moratorium on Military exercises, especially with nuclear – armed forces or forces that might be nuclear-armed, that might be interpreted by another party as provocative or might be misunderstood.

·         Avoidance of statements that threaten or might be understood or misunderstood to threaten, the use of nuclear weapons for any purpose whatsoever.

·         Establishment/re-establishme nt and regular use of, military-to-military hotlines.

·         Establishment of the Joint Data Exchange initially proposed in 1998.

·         ‘No-First-Use’ declarations by one or both sides, without waiting for the other side to do it first.

·         Lowering of the alert status of missiles currently kept in a state that can be launched in minutes or seconds; Increase in decision-making time by heads of state/senior military.


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Upcoming Events

        January 3 – 6, 2017 The Western Economic Association International 13th International Conference will be held in Santiago, Chile.

More Information available here:

          January 6 – 8, 2017 The 2017 ASSA/AEA Annual Meetings will take place in Chicago, IL.

More information available here:

          February 23 – 27, 2017 The 43rd Annual Eastern Economics Association Conference will be held in New York, New York at the Sheraton Times Square.

More information available here:

          June 22 -23, 2017 The 21st Annual Conference on Economics and Security will be held at the Royal Military Academy in Brussels, Belgium.

More information available here:

          June 25 – 29, 2017 The Western Economic Association International 92nd Annual Conference will be held at the Marriott Marquis & Marina, San Diego, California.

More information available here:

          June 26 – 28, 2017 The Jan Tinbergen European Peace Science Conference will be held at the University of Antwerp, Prinsstraat 13, Antwerpen, Belgium.

More information available here:



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