Daniel Alpert at Nouriel Roubini’s Economonitors offers a through, data supported (but in real English as well), description of what is happening in our economy, and why some things that might look puzzling are not so hard to see with some careful reading: I have a story to tell you about the U.S. employment picture. A […]
Lifted from comments from open thread July 23 by reader Jack Round and around the revolving door does spin. Those who take the ride are guaranteed to win, in the game of securities enforcement law. In yet another move between public and private practice John Khuzami moves from the SEC to “….a job that pays […]
by Rebecca Wilder Best to own a business rather than work for one In my effort to move away from covering Europe exclusively on this blog, I’ve returned to a little niche of economic data that had intrigued me in the past: US national income accounts/accounting. This time I’ll look at national income, specifically corporate profits […]
CNBC has a video on youtube about the concern over machines replacing people. They actually touch upon many relevant aspects of the issue… high unemployment, increasing corporate profits, productivity of machines, rising real GDP, stagnating median household incomes, low minimum wages and even social instability. Replacing people with machines, like paying lower real wages, is […]
On June 10th, 2009, Paul Krugman gave a lecture at the London School of Economics on how economics should be taught differently after the crisis. (It was actually the third lecture over 3 days. All 3 lectures are available on youtube and I highly recommend them even after 4 years.) Paul Krugman made 3 references […]
by Tom aka Rusty Rustbelt Book Review: So I got to spend most of Saturday evening and Sunday morning in the emergency department of the local hospital, once again proving to my wife that men are stupid. Not to waste time I took Alan Blinder’s new book with me. After the Music Stopped is a […]
Bill McBride at Calculated Risk offers this comment on labor force participation rates: Note: A significant portion of the decline in the unemployment rate from 10.0% in October 2009 to 7.6% in June 2013 was related to a decline in the participation rate from 65.0% in Oct 2009 to 63.5% in June 2013. If the […]
An NPR article and a Marketplace piece, which feature Milwaukee fast-food workers, highlight a hidden issue among low-wage jobs — many have such random work schedules, they can’t even get a second job to supplement their income. A new NELP report highlights “Taking the Low Road: How the Federal Government Promotes Poverty-Wage Jobs Through its […]
Today Paul Krugman wrote a piece (and a blog post) about China’s high level of investment in the face of low domestic consumption. It is obvious to me that he is making headway in understanding the importance of low labor share of income. Remember low labor share means high capital share. Capital income is dedicated […]
The subject of potential real GDP is important. As Paul Krugman had a post entitled, “Potential Mistakes”. Today Dean Baker had a post entitled, “GDP Growth Remains Below Potential Growth”. Paul Krugman said, “It is important to have an idea of how much the economy could and should be producing, and also of how low […]