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Minimum Wage Hikes: Few Clear Winners

Sara Zervos | Posted 07.30.2015 | Impact
Sara Zervos

Minimum wage hikes do entail income redistribution, but don't impact income inequality. Low wage workers will get a pay increase, but it is consumers who pay the obvious price to support this transfer, not the rich.

Getting It Right on Population

Bjørn Lomborg | Posted 07.30.2015 | World
Bjørn Lomborg

The problem is that, although everyone agrees that we should be doing everything we can to make poor people's lives better, prioritizing a particular set of targets is difficult.

Fed Angst and the Interest Rate Tragedy

Robert Hardaway | Posted 07.28.2015 | Business
Robert Hardaway

As traders and investors around the world try to decipher the Federal Reserve's use of such terms as "not impatient" in lieu of "patient" in its guidance on interest rates, it is fast becoming clear that the Fed realizes that it has been painted into a corner.

China Today

Joseph B. Kadane | Posted 07.28.2015 | World
Joseph B. Kadane

The basis of the China Communist Party's hold on power since Deng is based on persuading the public to trade political say for prosperity. That has worked for several decades, which have seen dramatic economic growth. But change is on the horizon.

The Puerto Rico Debt Crisis, Explained

Robert Rosenkranz | Posted 07.28.2015 | Politics
Robert Rosenkranz

Puerto Rico is on its way to one of the largest debt defaults in history, right up there with Greece and Argentina. Economic stagnation, or contraction, is not merely a result of an economic cycle but of major long term problems that make the island uncompetitive. But is there a way out?

Dear Sen. Sanders: It's Time To Address Racial Justice

Jordan Weiers | Posted 07.27.2015 | College
Jordan Weiers

Sen. Sanders, there is one issue that you must progress greatly on if you wish to become the president that America needs in 2016. That issue is racial justice. Saying that racism exists in your next speech or adding #blacklivesmatter to the end of your next tweet is not enough.

Illicit Financial Flows: Failure Is Not an Option

Bertrand Badre | Posted 07.24.2015 | Business
Bertrand Badre

Under the weight of great expectations and the glare of television cameras, delegates gathered last week for the Third International Conference on Fin...

Tackling Non-Communicable Diseases to Avoid Premature Deaths

Bjørn Lomborg | Posted 07.24.2015 | Impact
Bjørn Lomborg

For the poorer world, people often assume that infectious diseases like diarrhea, tuberculosis, AIDS, malaria, measles and tetanus are the biggest killers. That is no longer true.

All That Glitters Is Not Gold, for Now

Sara Zervos | Posted 07.29.2015 | Business
Sara Zervos

After experiencing a bull run for decades, the price of gold has been on an incessant decline since its high in 2011 - and is down a whopping 73% since then. Given prices plummeted around 5% in the last week alone, this shiny metal is making headlines both in popular and financial press. Is it time to buy?

A Killer Toothache: How U.S. Dental Care Became a National Emergency

Nisarg Patel | Posted 07.22.2015 | Politics
Nisarg Patel

130 million Americans -- over 40 percent of the population -- do not have dental insurance. Over the last ten years, millions of patients have been showing up with dental pain to hospital emergency departments instead of dental practices, at the cost of billions to hospitals.

How To Heal A Broken Heart? A 5-Step Program

Dr. Rebekka Grun | Posted 07.17.2015 | Impact
Dr. Rebekka Grun

"We broke up." "It's over." "No more." It can sound so easy. But the hard work sometimes begins right there. If you are done with listening to Sinead O'Connor and a good dose of mourning, and can suffer some humor again, and maybe a fresh outlook, then this article is for you.

Transhumanism Is Booming and Big Business Is Noticing

Zoltan Istvan | Posted 07.17.2015 | Business
Zoltan Istvan

I recently had the privilege of being the opening keynote speaker at the Financial Times Camp Alphaville 2015 conference in London. Attending were nearly 1000 people, including economists, engineers, scientists, and financiers.

Notes From a Dive Bar XIX

Alan Black | Posted 07.17.2015 | San Francisco
Alan Black

Bar Economics 101 Commerce He's gruff and hairy and does not want to pay. Flat out refuses. Beer should be free, he says. It is, I say. It's alwa...

Has the Chinese Market Finished "Correcting"?

Michael Farr | Posted 07.14.2015 | Business
Michael Farr

All things considered, the major equity markets of the world have been fairly orderly for the past year and a half. That is, all except the Chinese market.

Greek Talk in an Austrian Castle

Cate Montana | Posted 07.09.2015 | Travel
Cate Montana

So I'm sitting on the ramparts of an 11th century Austrian castle, watching the moon rise, talking about--of all things--Greece and European politics....

Our Paradoxical Economy Courtesy of Technology and the Lack of Basic Income

Scott Santens | Posted 07.09.2015 | Business
Scott Santens

We all know how the saying goes about giving someone a fish and teaching someone to fish. But what happens when we build a robot to fish? Do we all starve or do we all eat?

A Strategic Opportunity to Advance U.S.-Vietnam Relations

Antony Blinken | Posted 07.07.2015 | Politics
Antony Blinken

This week, the United States and Vietnam will open a new chapter in our history as General Secretary Nguyen Phu Trong travels to Washington, the first visit by Vietnam's Communist Party General Secretary to the U.S. since our two nations established relations 20 years ago.

People On Third Base Claiming They Hit a Triple, or Marginal Product Theory at Work... Not!

Jared Bernstein | Posted 07.03.2015 | Politics
Jared Bernstein

If the last worker hired is being paid an hourly wage less than the value of the firm's output per hour, if would make sense to hire additional workers. The theory isn't completely batty, but it is way too easy to find egregious exceptions.

Overtime: Finally, A Break for the Middle Class

Robert Reich | Posted 07.01.2015 | Politics
Robert Reich

The U.S. Department of Labor just proposed raising the overtime threshold -- what you can be paid and still qualify to be paid "time-and-a-half" beyond 40 hours per week -- from $23,600 a year to $50,400. This is a big deal. Some 5 million workers will get a raise.

Why Should We Support the Idea of Universal Basic Income?

Scott Santens | Posted 06.26.2015 | Politics
Scott Santens

So what exactly would you do, if you were guaranteed $1,000 per month for the rest of your life? And yes, that's around what the amount would most likely be here in the United States, at least at first.

Riding a Growth Wave

Michael Farr | Posted 06.25.2015 | Business
Michael Farr

It is still early days for the American newfound interest in health and wellness, but as organics only make up 5 percent of total food sales I think the industry has a long runway of growth ahead.

EIU Releases 2050 Economic Forecast: China Dominates

Judah Freed | Posted 06.25.2015 | World
Judah Freed

The Economist Intelligence Unit (EIU) in London today released its long-term macroeconomic forecasts with key trends from now to 2050.

What's Happening to America's Black Working Class?

Alan Singer | Posted 06.24.2015 | Politics
Alan Singer

The killings in Charleston, South Carolina have produced a lot of talk about healing and forgiveness, some important discussion of racism in the United States, and not enough attention to gun control.

Debt and Destitution

Ravi Batra | Posted 06.23.2015 | Politics
Ravi Batra

Destitution means extreme poverty, something that separates the third world from the first. When people are homeless or hungry, they are said to be destitute. Does destitution exist in the United States, still the largest economy in the world? It certainly does, and on a large scale.


Jerry Jasinowski | Posted 06.22.2015 | Business
Jerry Jasinowski

Too many political leaders are focused on the election cycle and too many business leaders on the quarterly returns. We have to set our sights beyond the short term if we are to increase productivity.