…tax revenues, can jeopardize funding for schools and infrastructure. The multiplier effect means that each healthcare job supports additional jobs in related sectors such as food services, transportation, and construction….

…do have information suggesting that at very least, there was no decline in September. First of all, the Chicago Fed publishes a twice-monthly “Advance Retail Trade Summary,” which uses weekly…

…plus. As such, no costly stations would be involved. Around 1905 a direct electrified rail line was proposed called the New York, Pittsburgh and Chicago. Its route was 100 miles…

…2 years. Additionally, the Chicago Fed updated its financial conditions indexes this morning. The Adjusted National Conditions Index rose to +.15, and the Leverage Index rose to +.53. With the…

…early warning signals for credit tightening, the Chicago Fed’s Leverage Index, is now at a level that in the past has more often meant a recession was approaching within the…

Robert Mundell And Supply Side Economics  The death of Nobel Prize winner Robert A. Mundell at age 88 has brought forth much discussion about his work and legacy.  Most of…

…morning briefing: that he thought that high unemployment was due to productivity gains in the economy. The same meme spread across the economics spectrum: Scott Sumner was horrified. Mike Konczal’s…

…a journal called the Review of Behavioral Economics (ROBE), and back between 2001-2010 I edited the Journal of Behavioral Economics and Organization (JEBO). One of Thaler’s most important papers back…

…disciplinary strain known as “behavioral economics,” economics assumes people act rationally maximizing their satisfaction, voting in ways that serve their economic interests. Behavioral economics was born with the work of Richard…

…Chambers’s Miscellany of Useful and Entertaining Tracts. In the Chambers dialogue, the mill owner, Mr. Smith explains to a worker, Mr. Jackson, how the immutable laws of economics harmonize their…