To encourage efficiency, we would want a proper set of regulations and taxes and have them apply equally to everyone. The point is to encourage people to make profits by providing better products or lower cost services, not to get rich by finding clever ways to evade regulations.
For the rest of the world, much of which has experienced the truly heinous inequalities associated with the colonialism that so enriched the West, the discussion is old hat. Many countries are only recently recovering from the effects of plundering, destruction of social and cultural institutions and resource extraction. Ironically, the realm of finance now labels these nations as "emerging markets." And yet Piketty's analysis is framed exclusively by western historical experience and thus unfortunately ignores the context in which western wealth creation occurred, despite the fact that many seek to perpetuate and emulate it today.
By establishing a market for import certificates, firms would have powerful incentives to bring the trade deficit into balance. All foreigners sending goods to this country would have to buy the certificates in appropriate amounts from our exporters. Overall, trade would become balanced quickly.
How did we become the world's leading economy and one of its wealthiest nations per capita? One critical reason is that the U.S. has always invested in innovation. We spend more than any other country on R&D. Has this spending made us richer? The clear answer comes from a long run of economists who have studied this subject intensively. Here is what they have learned.
Month-over-month gains were most evident in the residential construction sector, which grew 8.94 percent in April 2014; compared to 5.31 percent growth in the commercial construction sector.
If a ticket of two women offers economic revival and transformational change based on financial justice championed by Pope Francis, the most popular figure on the world stage, support from women would be stratospheric and many men would join them.
The short answer is that higher inflation comes from higher growth rates, and so when an economy expands robustly, then prices should also rise robust...
How unusual has the weather been? No one event is "caused" by climate change, but global warming, which is predicted to increase unusual, extreme weather, is having a daily effect on weather, worldwide.
As expected, the Federal Reserve stuck to its pattern of reducing asset purchases by another $10 billion. The monthly pace is now down to just $35 bi...
What Earth-changing events are happening this week? The US Senate Committee is going to vote on the climate changing Keystone XL pipeline, and NASA j...
Some of us were told to go to graduate school, taking on more debt, being advised that this would set us ahead of the competition. And after graduation we found -- and continue to find -- that the economy is still lagging.
Over my nearly 70 years as an entrepreneur, I have sometimes been described as a visionary, but this is really a misnomer. The truth is that I am a tremendous opportunist.
This week, as the Islamic State of Iraq and Syria (ISIS) soldiers pushed into Iraq, seizing cities, U.S.-made war supplies, Central Bank cash and gold bouillon, oil prices jumped to almost $107/barrel.
Does anyone actually still believe the words "trickle-down theory" have any valid meaning? Is anyone buying into this fiction that increasing the minimum wage would ruin our economy but multi-million dollar executive salaries don't increase prices at all?
While sincere efforts to help the poor should be encouraged, we should also realize that our current economic policies are doing much to harm the poor. First, we should realize that the decision to maintain high rates of unemployment is having a devastating impact on the well-being of millions of low and moderate income workers and their children.
As college costs rise, many low- and middle-income families find it more and more difficult to pay for higher education. Over the past three decades. Since 1980, the average cost of tuition at a public university has more than tripled, while a typical family's income has hardly budged.