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Economy

April 16, 2014

The Largest Occupations in the U.S. - Drew DeSilver, Pew Research Center

The federal Bureau of Labor Statistics recently reported that the 10 largest occupations (as of May 2013), accounting for more than a fifth of all U.S. wage and salary jobs, are ...

April 15, 2014

Unemployment Cuts Aren't Prodding People to Work - Ben Casselman, 538

The cutoff of federal unemployment benefits doesn’t seem to be helping the long-term unemployed get back to work....

April 14, 2014

Thomas Piketty's Path to Poverty For the Masses - Jeffrey Dorfman, RCM

The economic book of the moment is Capital in the Twenty-First Century by Thomas Piketty. In this book, economics professor Piketty blames the increase in wealth and inco...

April 14, 2014

Unemployment and the Idleness Trap - Robert Samuelson, Washington Post

If you know someone among the long-term unemployed -- a category that includes workers who have been jobless at least six months, but in many cases much longer -- you understand wh...

April 14, 2014

Our 18-Year Recession - Anthony B. Sanders, Confounded Interest

The U.S. economy has been in a recession since 1997. While I am not referring to the NBER’s definition of a recession (that allegedly ended in June 2009), I am talking about ...

April 12, 2014

The Great Moderation Is Back - Jason Furman, Council of Economic Advisers

Perhaps you remember the Great Moderation, the comforting term economists pinned on the period of relatively steady growth that began in the early 1980s....

Most Recent Articles

April 11, 2014

Did Cutting Unemployment Grow the Workforce? - Matt Phillips, Quartz

When you’re on the losing side of politics, your best bet is to muddy the waters, obscure the facts, or at least spit in the other guy’s petrie dish...

April 10, 2014

Why We're in a New Gilded Age - Paul Krugman, New York Review of Books

Thomas Piketty, professor at the Paris School of Economics, isn’t a household name, although that may change with the English-language publication of his magnificent, sweeping me...

April 9, 2014

The Shift to Shareholder Capitalism - Steven Pearlstein, American Prospect

It was only 20 years ago that the world was in the thrall of American-style capitalism. Not only had it vanquished communism, but it was widening its lead over Japan Inc. and Europ...

April 8, 2014

The ACA's Unpleasant Welfare Math - Casey B. Mulligan, NBER

Under the Affordable Care Act, between six and eleven million workers would increase their disposable income by cutting their weekly work hours. About half of them would primarily ...

April 8, 2014

Chicago's Disappearing Middle Class - Lisa Wade, Pacific Standard

By now most readers are likely familiar with the idea that theAmerican middle class is shrinking. Most income and wealth gains over the past 40 or so years have gone to t...

April 8, 2014

Obama's New Move on Gender and Pay - Bryce Covert, The New Republic

President Obama on Tuesday is expected to sign two executive orders that will address the pay disparity between women and men. One will bar federal contractors from retal...

April 7, 2014

The Left's New Favorite Economist - Kathleen Geier, Washington Monthly

Capital in the 21st Century, the new book about inequality by French economist Thomas Piketty, is generating excitement among progressives like few books I have ever seen in my lif...

April 5, 2014

The Trade Deficit vs. Full Employment - Dean Baker, CEPR

Dean Baker argues that taking aim at the persistent trade deficit, through which the United States exports labor demand, would help a great deal in moving the job market toward ful...

April 5, 2014

The Only Jobs Report Post You Need to Read - Robert VerBruggen, RCPolicy

Total nonfarm employment up 192,000, unemployment rate steady at 6.7 percent. Get ready for a deluge of bland commentary about what that means!...

April 5, 2014

What's Happening to the Long-Term Unemployed? - Annie Lowrey, NYT

At first blush, it’s great news. The number of long-term unemployed Americans – meaning those out of a job for more than six months – has dropped to 3.7 million i...

April 3, 2014

The Distribution of Wealth - Emmanuel Saez & Gabriel Zucman, Berkeley

Income inequality has increased sharply since the 1980s yet surveys show modest increase in wealth concentration....

April 3, 2014

The Conservative Case Against Capitalism - Michael Dougherty, The Week

My colleague Ryan Cooper and many others have recently praised the work of French economist Thomas Piketty, whose Capital in the Twenty-First Century was recently re...

March 31, 2014

Was Marx Right After All? - Room for Debate, New York Times

In the golden, post-war years of Western economic growth, the comfortable living standard of the working class and the economy’s overall stability made the best case for the ...

March 31, 2014

Why You're Wrong About the 1 Percent - Derek Thompson, The Atlantic

For years, I've been making the same embarrassing mistake about U.S. economic inequality. Sorry....

March 26, 2014

The End of Jobs as We Know Them? - Sarah Jaffe, In These Times

In a major victory for a long-running campaign,  port truck drivers at Pacific 9 Transportation in California have won the right to be considered employees under the Nati...

March 24, 2014

With Economic Policy, First Do No Harm - Greg Mankiw, New York Times

Do you want to know a dirty little secret of economists who give policy advice? When we do so, we are often speaking not just as economic scientists, but also as political philosop...

March 24, 2014

Greg Mankiw's Weak Argument - Isaac Chotiner, The New Republic

The former Bush administration economist N. Gregory Mankiw is well known for his love of rich people and his outspokenness on economic matters. But in his semi-regular&nb...

March 22, 2014

Is It Too Late for the Unemployed? - Ben Casselman, FiveThirtyEight

The nearly 5-year-old economic recovery has so far been too weak to put many of the recession’s victims back to work. And there is mounting evidence that even if the economy ...

March 19, 2014

Workers Who Live on Less Than $10.10 - Ben Casselman, FiveThirtyEight

A generation ago, people making the minimum wage were largely teenagers. Today, as President Obama pushes to give 25 million low-wage workers a raise, that’s no longer true....

March 18, 2014

Regulating Systemic Risk in Insurance - Schwarcz & Schwarcz, SSRN

As exemplified by the dramatic failure of American Insurance Group (AIG), insurance companies and their affiliates played a central role in the 2008 Global Financial Crisis. It is ...

March 18, 2014

Inequality Doesn't Harm Growth - Diana Furchtgott-Roth, RealClearMarkets

The idea that inequality limits a country's economic growth is on the verge of becoming conventional wisdom. But, despite the latest International Monetary Fund report, no one has ...

March 17, 2014

Will Dynastic Wealth Make a Comeback? - Robin Hanson, Overcoming Bias

This rate of return on assets r that Krugman and Piketty discuss is something like the ratio of rental to purchase price of land. I don’t have access to Piketty’s book,...

March 17, 2014

The Impending Collapse of Society - Nafeez Ahmed, The Guardian

A new study sponsored by NASA’s Goddard Space Flight Center has highlighted the prospect that global industrial civilisation could collapse in coming decades due to unsustain...

March 14, 2014

Our Economy Needs More Job Turnover - Catherine Rampell, Wash Post

No one’s getting fired anymore. And believe it or not, that’s a sign the economy could be very sick....

March 14, 2014

Behind the Push for the TPP - Lee Drutman, Sunlight Foundation

In 2009, four years before the Trans-Pacific Partnership (TPP) was a widely-debated trade deal, few would have noticed a new issue popping up in a handful of lobbying reports....

March 12, 2014

The U.S.'s Recovery, in Context - Timothy Taylor, Conversable Economist

The recovery of the U.S. economy since the end of the Great Recession in June 2009 has been sluggish and weak--and still much better than in most high-income countries. Here a figu...

March 12, 2014

Why Businesses Support Free Trade - David Williams, TPA

Year after year, amidst every trade negotiation, many worry that free trade will render American companies unable to compete with an influx of cheap foreign goods. It's one reason ...

March 11, 2014

The 2014 Economic Report of the President - White House

This morning, the Council of Economic Advisers is releasing the 2014 Economic Report of the President, which discusses the progress that has been made in recovering from the w...

March 11, 2014

The Scary Truth Behind the Labor Force Decline - e21

Over the past seven years, the civilian labor force participation rate has steadily declined. As of February, the rate stood at 63.0 percent, the same level as 1978 (before the eco...

March 11, 2014

The Labor Market, in Charts - Kapon Sahin, New York Fed

This morning, the New York Fed released a new set of charts measuring various dimensions of the labor market. These charts are mostly generated from data available throug...

March 10, 2014

Energy Subsidies: How to Wreck an Economy - Rich Tucker, RealClearPolicy

The United States, Iran, Venezuela, and Ukraine are very different countries, with very different languages, on very different continents. And yet there’s at least one thing they...

March 10, 2014

The U.S.'s New Manufacturing Industry - Lydia DePillis, Washington Post

Chris Young's pain is in his wrists. It started about a year ago -- at first a numbness, and then sharp pains, all the way up to his elbow. He'd injured the left wrist in a long-ag...

March 10, 2014

Liberty, Equality, Efficiency - Paul Krugman, New York Times

Most people, if pressed on the subject, would probably agree that extreme income inequality is a bad thing, although a fair number of conservatives believe that the whole subject o...

March 8, 2014

There's No Recovery for Construction Workers - David Callahan, Demos

Whenever new jobs data is published, as it was today, I take a quick look at the unemployment rate for construction workers. No group of workers got whacked harder by the housing c...

March 8, 2014

Work Doesn't Guarantee Success - Nell Abernathy, Next New Deal

Les Misérables returned to Broadway last week, just in time for Victor Hugo’s tale of poverty and redemption to provide some context for thinking about the p...

March 7, 2014

Obamacare and Self-Employment - Dean Baker, CEPR

Thank you, Chairman Hanna and Ranking Member Meng, for inviting me to address the Subcommittee on the impact of the Affordable Care Act (ACA) on self-employment. I will make three ...

March 6, 2014

How to Avoid the Next Financial Crisis - Alan Greenspan, The American

September 15, 2008 was not just the beginning of the financial crisis, which may very well have been the greatest financial crisis ever (the Great Depression of the 1930s was a far...

March 5, 2014

Does Redistribution Increase Output? - Athreya et al., Richmond Fed

The aftermath of the recent recession has seen numerous calls to use transfers to poorer households as a means to enhance aggregate activity. We show that the key to understanding ...

March 5, 2014

The Obama Budget: What's Not DOA - Jared Bernstein, On the Economy

It’s of course tempting to decry the President’s budget as “dead on arrival” but I wouldn’t be nearly so quick to go there.  To dismiss its conte...

March 4, 2014

How Obama Can Improve the Economy Unilaterally - Dean Baker, CEPR

With at least one house of Congress almost certain to be under the control of intransigent Republicans through the rest of his presidency, there is little prospect for any major le...

March 3, 2014

Maybe the Unemployment Rate Isn't Misleading - Evan Soltas

Maybe the unemployment rate isn't as misleading as we might think. Maybe it doesn't massively overstate the amount of progress and healing in the labor market. I'm working on a pie...

March 1, 2014

Is Economic Stagnation Inevitable? - Ronald Bailey, Reason

In “Is U.S. Economic Growth Over?,” a 2012 working paper for the National Bureau of Economic Research, the Northwestern University economist Robert Gordon argued that t...

February 28, 2014

The 1% Should Pay for Higher Growth - Leonid Bershidsky, Bloomberg View

Could high income inequality actually be a coiled spring that can be used to boost growth? Could redistributing wealth actually be good for the economy? These are the somewhat coun...

February 28, 2014

A Slow, Partial Recovery - Brauer & Whalen, Congressional Budget Office

As a companion to CBO’s The Budget and Economic Outlook: 2014 to 2024 released earlier this month, CBO released The Slow Recovery of the Labor Market—a r...

Yahoo News - US Economy

Germany demands 'visible' de-escala

BERLIN (Reuters) - Moscow must show it is serious about a de-escalation in Ukraine by pledging concr...