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 economic growth and job creation are to be restored in America, we must unblock the country and enable smart people -- innovators, creators, and entrepreneurs -- to unleash their creativity.
With today's jobs report, marking the fourth anniversary of the start of the private-sector jobs recovery, the pace of overall job creation (private plus government jobs) over that period has now averaged just 168,000 a month -- well below the 200,000 to 300,000 jobs a month that a robust jobs recovery would have generated.
In a report that has both good and bad news for the American workforce, February payrolls appeared to shake off analysts' cold-weather concerns, adding a solid 175,000 jobs and revising job counts for the prior two months up by a total of 25,000.
Simply increasing wage levels and extending jobless benefits once again won't solve the problem of long-term unemployment and underemployment, and the diminishing impact income losses have on the long-term productive capacity of the United States economy.
Do you recall a time in America when the income of a single school teacher or baker or salesman or mechanic was enough to buy a home, have two cars, and raise a family? I remember.
Silvia pointed out that in his perspective, there's no such thing as a California economy because there are vast differences in economic growth, recovery and the labor force based on metropolitan areas.
I find myself awed by the difficult personal journeys that so many young women undertake to forge a new direction in their own lives, often against terrible odds. Are not their struggles to lift themselves up inspiring stories of change as well?
Critically, building affordable housing units across the city will help create jobs right in the neighborhoods suffering the highest unemployment, helping address the yawning economic and racial divide opened up during the most recent recession.
The President's annual budget demonstrates whether our values are driving our national choices. Are we going to continue to give extra tax breaks worth billions to hot shots in the finance industry or re-direct tax help to decrease the poverty of more than 13 million workers?
Immediately upon entering adulthood, Americans are forced to compete for increasingly-scarce employment. The purpose of most employment isn't to create value for society or future generations, but to create profits for a scant few executives and shareholders.
At his recent State of the Union address, President Obama issued a timely challenge to U.S. corporate leaders: partner with the administration voluntarily to absorb more workers needing employment.
It's no wonder that Republicans have pinned all of their hopes for the mid-terms on the proposition that the botched Obamacare roll-out would sour the public on the signal accomplishment of President Obama's first term. But once again, the Republicans are on the wrong side of history.
We are at a loss as to what we will do now that the unemployment has just run out. We live month to month. We really do not want to become homeless, but if something doesn't give, that is where we will end up, without even a vehicle to sleep in. In Ohio, in winter.
President Obama has said that he intends to use his presidential power to do what he can to improve the economy and lay the groundwork for future change. While there are limits as to what Obama can based on executive authority alone, there are many areas where he can have an impact. He already identified one area in his State of the Union Address, when he announced that new federal contracts would require that workers be paid a higher minimum wage. This sort of action can be carried much further. Of course, negotiations mean that we are prepared to give up something. That seems like a small price to pay for the millions of jobs that could be created.
What employers require from the marketplace aligns neither with the skill-sets of workers from the "old economy" nor with what our educational institutions are creating in terms of the competencies and knowledge bases of their respective graduates.