“as a” Kwame Anthony Appiah has an op-ed in Sunday’s New York Times dissecting the “as a” locution, in which one first announces one’s gender, race, sexual orientation, or class position before making an argument during a public discussion. He interprets it as a claim to represent the entire group defined in the preparatory clause, and explains […]
June 2018 JOLTS report evidence of both excellent jobs market and taboo against raising wages Yesterday’s JOLTS report remained excellent, suffering only in comparison to last month: Hires were just below their all-time high of one month ago Quits were just below their all-time high of one month ago Total separations made a new 17-year […]
Would Serious Climate Change Mitigation Policy Increase World Hunger? That’s the finding of a recent study published in Nature Climate Change, “Risk of Increased Food Insecurity under Stringent Global Climate Change Mitigation Policy” by an international team of 22 researchers. (Coauthorship like this is why god created et al.) The abstract has made the rounds of the blogosphere, including Marginal […]
by Joseph Joyce Empires, Past and Present Economists rarely write about “empires,” unless they are referring to historical examples such as the Roman empire. But Thomas Hauner of the Federal Reserve Bank of Minneapolis, Branko Milanovic of the Graduate Center of City University of New York and Suresh Naidu of Columbia University have presented a study of […]
How close are we to “full employment”? As I pointed out Friday, there was a lot of good news underneath the headline jobs gain — primarily in labor force participation and underemployment. So, how close are we to “full employment,” based on the last few expansions? Let’s start with the simple, straightforward unemployment rate of […]
Real Wages Decline Trump and his allies have been loudly bragging about the second quarterly GDP growth rate of 4.1%. It is quite possible that a growth rate of this sort may be maintained for another quarter or so, given the large fiscal stimulus put in place at the beginning of the year. How curious […]
July jobs report: booming jobs market, and a surge in participation continues to depress wage growth HEADLINES: +157,000 jobs added U3 unemployment rate down -0.1% from 4.0% to 3.9% U6 underemployment rate down -0.3% from 7.8% to 7.5% (new expansion low) Here are the headlines on wages and the broader measures of underemployment: Wages and […]
Sleepers in Hong Kong McDonalds I have eaten at the McDonalds in Hong Kong over the years. Just smaller portions and only after I grew tired of fish and veggies. I think I told the story of coming off The Wall, making my way down a road with my Chinese associates towards a Chinese restaurant, […]
Trump’s Illegal Economic Sanctions Against Iran Start Up Today, President Trump’s promised abjuration of President Obama’s hard-negotiated nuclear deal with Iran,the JCPOA, jointly agreed with Russia, China, UK, France, Germany, the EU, and the Security Council of the United Nations. All parties agree that Iran has held to the agreement, so Trump’s move is completely […]