Since the Great Recession, inequality has loomed large in policy debates in the United States and around the world. Losses from the recession and the slow pace of recovery since have fueled concerns that inequality is not simply unfair but harmful.
New York Times columnist Paul Krugman's call for more publicly-funded infrastructure fails to acknowledge that infrastructure funding, when directed by government, goes to costly projects favored by politicians, not enterprises for which users are prepared to pay.
It is time to end the Band Aids and the duct tape, time for comprehensive tax reform. That is why, when the 113th Congress reconvenes for its last session, the lame ducks should just say no to tax extenders.
For years, Neumark has battled claims by other economists, such as University of Massachusetts professor Arindrajit Dube, that minimum wage hikes have no effect on employment. This latest paper offers more evidence that employment prospects for teenagers are diminished most by the minimum wage.
The Federal Reserve’s policy statement, to be released immediately following this Wednesday’s meeting, will likely show further signs of dissension within the Federal Open Market Committee. For now, debate within the Federal Open Market Committee ought to be viewed as positive.
Every year, economists put pen to paper and make projections for the next 12 months. In addition to forecasts for real GDP growth, inflation and consumer spending, they look into their crystal ball to determine what the Federal Reserve will do with its benchmark rate and what long-term interest rates will do in response.
Americans are concerned about safety and privacy, and, with the hacking of celebrity photos on iCloud, Apple needs to regain some public trust. One breach on ApplePay, like the Target breach, could cause Americans to delay the entire system. But if security holds, Apple could be the company that changes how people pay.