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Economy

January 12, 2015

The Democrats' Shifting Economics - Dylan Matthews, Vox

President Obama's biggest problem in the Senate is obviously its new Republican majority, but opposition from the left wing of the Democratic caucus appears to be growing too. Most...

January 12, 2015

Is the Creative Class Under Assault? - Julia M. Klein, CJR

We are deep in the journalistic trenches, mourning the shrinking and shuttering of newspapers and magazines, bemoaning declining salaries and freelance rates, jawing about the elus...

January 12, 2015

Where's the Austerity? Here's the Austerity. - Kevin Drum, Mother Jones

Tyler Cowen passes along the following chart, a modified version of one Matt Yglesias used to show the trend of total government expenditures (federal + state + local) and declare&...

January 12, 2015

Jobs Under the Last Six Presidents - Bill McBride, Calculated Risk

By request, here is an update on an earlier post through the December employment report....

January 12, 2015

The Politics of Financial Insecurity - Pew Research Center

When it comes to choosing a party’s candidate in the voting booth, one pattern in modern American politics is so familiar it has become a truism: the rich vote Republican, th...

January 10, 2015

Youth Unemployment Is Still a Huge Problem - Mike Cassidy, Fiscal Times

January is not typically a time when people are making summer plans. But thanks to a working paper released this week by the National Bureau of Economic Research, perhaps it should...

Most Recent Articles

January 10, 2015

Does Obama Deserve Credit for the Economy? - Ben White, Politico

The United States economy is increasingly the envy of a struggling world and President Barack Obama is in the early stages of a yearlong effort to grab credit for it and reverse pe...

January 8, 2015

Obamanomics Didn't Kill the Economy - James Pethokoukis, The Week

The American economy in 2015 will probably pale in comparison to the big booms of the 1980s and 1990s. But thanks partly to the 50 percent drop in oil prices since summer, it may b...

January 6, 2015

Where the Economy Still Stinks - Ron Fournier, National Journal

The diner smelled like bacon and wet socks. I sat at one table, scrolling through Twitter as news broke from Washington that the economy is on an upswing. At four other tables sat ...

January 6, 2015

Why Is Wage Growth So Slow? - Mary C. Daly & Bart Hobijn, FRBSF

Despite considerable improvement in the labor market, growth in wages continues to be disappointing. One reason is that many firms were unable to reduce wages during the recession,...

January 5, 2015

Thank Gridlock for Economic Turnaround - David Harsanyi, The Federalist

The Obama Boom is finally here. Gross domestic product grew by a healthy 5 percent in the third quarter, the strongest growth we've seen since 2003. Consumer spending looks as if i...

January 3, 2015

Five Economic Stories to Watch This Year - Robert Samuelson, Wash Post

The start of a new year is a good time to take stock. For those of us in the news business, this suggests stepping back and asking what's important. Here are five economic stories ...

January 3, 2015

Seven Ways to Raise Wages - Alan S. Blinder, Newsweek

A wage rate is a market price. The hourly wage is what it costs to purchase one hour of labor services of a certain type, in a certain place....

January 3, 2015

What's Wrong With Georgia? - Alana Semuels, The Atlantic

Throughout the economic downturn and subsequent recovery, there have been some usual suspects when it comes to the most pitiful state in monthly unemployment figures....

January 3, 2015

Warning Signs of a 2015 Market Crash - John Ficenec, Telegraph

The FTSE 100 slid on the first day of trading in 2015. Here are 10 warning signs that the markets may drop further....

January 2, 2015

Where Will All the Workers Go? - Nouriel Roubini, Project Syndicate

Technology innovators and CEOs seem positively giddy nowadays about what the future will bring. New manufacturing technologies have generated feverish excitement about what some se...

December 31, 2014

Five Reasons for Slow Growth - Michael Spence, Project Syndicate

A remarkable pattern has emerged since the 2008 global financial crisis: Governments, central banks, and international financial institutions have consistently had to revise their ...

December 29, 2014

The Economic Unknowns of 2015 - Justin Wolfers, New York Times

I wish I knew where the economy will be heading next year. If I did, I might become rich. But, alas, I don’t — and even if we don’t always acknowledge it, no econ...

December 29, 2014

Does the Internet Create Jobs? - Roslyn Layton, Tech Policy Daily

There are many dimensions to technology policy, but none is more important than employment. The Internet provides entrepreneurs with unprecedented access to valuable tools at littl...

December 29, 2014

Repairing the Middle Class in the New Year - Robert Samuelson, Wash Post

What is curious about the present understandable preoccupation with the middle class is the assumption -- both explicit and implicit -- that the system is "rigged" (to use Sen. Eli...

December 26, 2014

Economic Boom? Don't Hold Your Breath - Jordan Weissmann, Slate

I hate to be a grinch today, but it feels like at least a few people are getting a tad overexcited about the health of the U.S. economy....

December 24, 2014

The Boom Is Here - Matt O'Brien, Washington Post

The economic recovery is real, and even though it's not spectacular, it's getting there....

December 22, 2014

The Myth That Inequality Is Efficient - Matthew Yglesias, Vox

If you want people to consume less water, there are roughly two ways you could do it. One is to raise the price of water, and the other is to simply mandate that everyone cut back ...

December 20, 2014

Banking Panics and Long Recessions - Daniel Sanches, Philadelphia Fed

This paper develops a dynamic theory of money and banking that explains why banks need to hold an illiquid portfolio to provide socially optimal transaction and liquidity services,...

December 19, 2014

Workers' Slice of the Pie Hasn't Changed - Scott Winship, Forbes

A couple of posts ago, I showed that when analyzed properly, hourly pay has risen just as much as productivity since 1947....

December 19, 2014

Middle Class: Doing Better Than We Think? - Michael Fletcher, Wash Post

Few researchers disagree that the one percent has rarely had it so good. Economic inequality in the United States has grown more severe in recent years, approaching levels not seen...

December 19, 2014

The Problem With Economics: An Exchange - New York Review of Books

Alan S. Blinder’s review of Jeff Madrick’sSeven Bad Ideas asks: “What’s the Matter with Economics?” [NYR, December 18, 2014]. Blinder concludes t...

December 15, 2014

Smotherers of Innovation - Steven Malanga, City Journal

In June 2012, the New England Federal Credit Union in Williston, Vermont, received a vaguely worded letter from a company called Automated Transactions, warning the firm that it mi...

December 13, 2014

Student Loan Debt and the Economy - Cooper & Wang, Boston Fed

This policy brief examines the impact of student loan debt on individuals' homeownership status and wealth accumulation, employing a rich set of financial and demographic variables...

December 13, 2014

How the Recession Affected the Family - Philip Cohen, The Conversation

Observers may be quick to declare social trends "good" or "bad" for families, but such conclusions are rarely justified. What's good for one family -- or group of families -- may b...

December 13, 2014

America's Middle Class Is Lost - Jim Tankersley, Washington Post

One day in 1967, Bob Thompson sprayed foam on a hunk of metal in a cavernous factory south of Los Angeles. And then another day, not too long after, he sat at a long wood bar with ...

December 12, 2014

The Vanishing Male Worker - Binyamin Appelbaum, New York Times

Frank Walsh still pays dues to the International Brotherhood of Electrical Workers, but more than four years have passed since his name was called at the union hall where the few a...

December 10, 2014

Small Business Economic Trends - N. Federation of Independent Business

The NFIB Small Business Optimism Index jumped up 2.0 points to 98.1, just a tick lower than its historical average before the Great Recession....

December 9, 2014

Two Narratives About the Job Market - Matthew Yglesias, Vox

There are two competing narratives out there about full-time work and the current state of the economy, and it's hard to figure out who's right for one simple reason — both n...

December 9, 2014

This Isn't the '90s Economy Again - Zachary Karabell, Politico Magazine

With only one more report left, 2014 is shaping up to be the best year for job creation since 1999. Predictably enough, last week’s strong numbers (321,000 jobs added) inspir...

December 8, 2014

Labor Force Participation's Decline - Bill McBride, Calculated Risk

For several years, I've been arguing that "most of the recent decline in the participation rate" was due to demographics and other long term structural trends (like more ...

December 5, 2014

Young Adults Today: More Educated but Poorer - Jonathan Vespa, Census

Compared with prior generations, young people today, those 18 to 34 years old, are more educated and, in some parts of the country, earn more. However, they are also less likely to...

December 5, 2014

Why Has Human Progress Stalled? - Michael Hanlon, Aeon

We live in a golden age of technological, medical, scientific and social progress. Look at our computers! Look at our phones! Twenty years ago, the internet was a creaky machine fo...

December 5, 2014

Demography and Our Economic Destiny - Clive Crook, Bloomberg View

The idea that the world economy is undergoing a demographic transition is now so familiar that it barely even registers. The point is noted; the conversation moves on. This is a mi...

December 3, 2014

Addressing Long-Term Unemployment - Lawrence F. Katz et al., VoxEU

In the aftermath of the Great Recession, there remains a large number of long-term unemployed across countries. This column argues that policies targeting the long-term unemployed,...

December 3, 2014

What's the Matter with Economics? - Alan S. Blinder, NY Review of Books

The Queen of England famously asked British economists why nobody saw the financial crisis coming. Lots of nonroyal people also have a feeling that there’s something wrong with e...

December 2, 2014

Cities Can Fight 'Secular Stagnation' - Richard Florida, CityLab

After three-plus years of slow growth, persistently high unemployment, and perennially low consumer confidence, former Treasury Secretary and Harvard economics professor Larry Summ...

December 1, 2014

Inequality and Income for the Rich and Poor - Milanovic & Weide, VoxEU

A breakthrough in understanding the link between growth and inequality came from ‘unpacking’ inequality – looking at inequality measures for different segments of...

November 29, 2014

Why Did Wages and Productivity Diverge? - Noah Smith, Bloomberg View

There’s a common myth that standard economics predicts that people are paid an amount of money equal to the value of the things they produce.  Actually, this isn’t...

November 26, 2014

The Stimulus Was a Smashing Success - Gary Burtless, RealClearMarkets

Earlier this month the Congressional Budget Office published new estimates of income losses and gains in the Great Recession and in the recovery up through 2011. It is an...

November 26, 2014

Does Demography Explain Secular Stagnation? - The Economist

IN THE late 1930s economists trying to explain how a depression could drag on for nearly a decade wondered if the problem was a shortage of people. “A change-over from an inc...

November 26, 2014

Reviving Economic Growth: A Symposium - Cato Institute

In conjunction with the upcoming conference on the future of U.S. economic growth, the Cato Institute has organized a special online forum to explore possible avenues for pro-...

November 11, 2014

Time to Worry About Long-Term Unemployment - Mike Cassidy, RCPolicy

Vacations are different from weekends....

November 8, 2014

Employers Are Hiring but Not Raising Pay - Ben Casselman, FiveThirtyEight

For years now, economics reporters have been writing about the “slow but steady” recovery in the job market. Every piece of good news was tempered with a note of cautio...