The argument goes that instead of being jealous, we all should be working in harmony together to create jobs and opportunity. Problem is, the deeply rich talk about building the economy but do almost nothing about it.
We were all victims of the financial crisis that began in 2007 (not 2008), but some of us suffered more than others. And, hundreds of millions of us are still living with the painful aftermath as its consequences began to be felt worldwide.
Changes in the structure of the economy have led to a significant shift in the natural balance between savings and investment, causing a decline in the equilibrium or normal real rate of interest that is associated with full employment. In this situation, a temporary increase in fiscal stimulus reduces, rather than increases, the long-run debt-to-GDP ratio.Anything that stimulates demand will operate in a positive direction. Austerity is counterproductive unless it generates so much confidence that it is a net increaser of demand.
If we make the right investments in the health sector today, we could achieve universally low rates of infectious, maternal and child deaths by 2035.
The institutions of higher education should realize that the 20th Century system that consolidated all academic functions under one roof is being challenged by new technologies and new structures.
In theory, economists are rewarded for seeking the truth. In reality, many are rewarded for outlandish soundbites for "talking head" shows and supporting whichever special interest group pays them.
Two weeks ago, the IMF organized a major research conference, in honor of Stanley Fischer, on lessons from the crisis. Here is my take.
It should be no surprise that it has taken so long for a prominent member of the American policy elite to suggest openly to his colleagues that the core assumption upon which they have been managing the economic crisis might be dead wrong.
Clearly, our political system is going through some of its greatest challenges. When competing values are so polarized, systemic seventh level thinking doesn't see the light of day as the entire system heads into collapse.
Obama's expected nomination of Summers was a perfect example of that critical flaw. Repeated appointments of inadequate individuals with questionable résumés -- whether out of loyalty or cronyism -- leaves the government vulnerable to recurrent failure.
I find it distressing that President Obama and other proponents of big government continue to preach its virtues as the country faces ongoing politica...
If we need any more evidence that Janet Yellen should be the next Federal Reserve Chairperson, it was the decision by the Fed Governors to continue th...
Obama was twice defeated last month on matters of national and international importance, by grassroots opposition and resistance from within his own party. It has taken a few years, but this is the base of the voters that brought Obama to power asserting itself.
The contrast between tea party extremism and populist progressives could not be more telling. Both are based in part on the anger tough times stir up, but these two movements are moving in opposite directions.
The recent conclave of the Fed's FOMC (Federal Open Market Committee) that met and rendered a decision has sent the Dow Jones index soaring to record...
Shrum & Erickson debate why the GOP House votes repeatedly to defund Obamacare but not once to defend people from nuts with guns. While Erick scoffs at diplomacy deterring Iranian nukes, Bob thinks that bipartisan sanctions and Obama's Syrian saber-rattling are working.