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Recovery of the Rich, By the Rich, For the Rich -- Recession for Everyone Else

Anthony W. Orlando | Posted 10.17.2014 | Politics
Anthony W. Orlando

Officially, the recession ended five years ago. But there's something the financial newscasters don't tell you: Unless you're rich, those numbers don't apply to you.

Small & Big: The Interrelation That Exists

St. Gallen Symposium | Posted 10.16.2014 | Impact
St. Gallen Symposium

Small is compact and constricted, always seen in comparison to big. The current global scenario demands an existence of both in equal forms. Small maybe frowned upon in terms of size, but it is the reason why big exists.

What Oil Price Got to Do, Got to Do With It? (10 Things to Remember About Oil Prices)

Carl Pope | Posted 10.15.2014 | Green
Carl Pope

The collapse of soaring oil prices signaled the beginning of the 2008 Great Recession. This milder repeat performance is not so confusing if we look at the basics -- and remember that what counts about oil is not where it is produced, or exactly how much we need, but its price.

The Age of Vulnerability

Joseph E. Stiglitz | Posted 10.14.2014 | World
Joseph E. Stiglitz

It used to be thought that America's greatest strength was not its military power, but an economic system that was the envy of the world. But why would others seek to emulate an economic model by which a large proportion -- even a majority -- of the population has seen their income stagnate while incomes at the top have soared?

The 95 Percent Rule, Bulgaria and the NYT

Steve H. Hanke | Posted 10.10.2014 | World
Steve H. Hanke

Recent reportage in the New York Times reminded me of my 95 percent Rule: "95 percent of what you read about economics and finance is either wrong or irrelevant."

E.U. Austerity, You Must Be Kidding

Steve H. Hanke | Posted 10.07.2014 | World
Steve H. Hanke

The leading political lights in Europe -- Messrs. Hollande, Valls and Macron in France and Mr. Renzi in Italy -- are raising a big stink about fiscal austerity. They don't like it. And now Greece has jumped on the anti-austerity bandwagon.

Economic Growth Patterns in USA, Canada, Mexico and China

Dominik Knoll | Posted 09.22.2014 | Business
Dominik Knoll

While the U.S. economy is seeing significant growth, economies in neighboring countries, Canada and Mexico, are doing also well. In Canada, rising exports and consumer spending have translated into better growth.

Africa: The Good, the Bad and the Ugly

Steve H. Hanke | Posted 10.15.2014 | Politics
Steve H. Hanke

Last week, President Obama hosted the U.S.-Africa Leaders Summit in Washington, D.C. He welcomed over 40 African heads of state and their outsized entourages to what was a festive affair.

Hey Kids: Keep the Noise Down! (GDP Version)

Jared Bernstein | Posted 09.29.2014 | Politics
Jared Bernstein

What happened in this recovery is that we settled into trend growth before we bounced back and repaired the damage. That's why the job market in particular has taken so long to recover.

The U.S. Government Has Hurt The Economy In 11 Of The Past 12 Quarters

The Huffington Post | Mark Gongloff | Posted 07.30.2014 | Business

The U.S. economy has just gone through some big, big changes. Big, good changes! But one thing has not changed: federal government spending, which can...

The Economy Just Grew Much Faster Than It Was Expected To

Reuters | Lucia Mutikani | Posted 07.30.2014 | Business

WASHINGTON, July 30 (Reuters) - U.S. economic growth accelerated more than expected in the second quarter and the decline in output in the prior perio...

The BRICS Bank Signals the End of the American Financial Empire and U.S. Dollar Hegemony

Dr. Nasser H. Saidi | Posted 09.19.2014 | World
Dr. Nasser H. Saidi

Establishing the BRICS Bank is a momentous event The July 2014 BRICS (Brazil, Russia, India, China, South Africa) Summit was a momentous event, more ...

Latvia, the Country Prof. Krugman Loves to Hate, Wins 1st Prize

Steve H. Hanke | Posted 09.17.2014 | World
Steve H. Hanke

Latvia, a country Paul Krugman loves to hate, takes the prize for the least miserable of the former Soviet Union countries in this sub-ranking.

From Big Data to Deep Data

Otto Scharmer | Posted 09.17.2014 | Technology
Otto Scharmer

Over the past ten months I have chaired and co-facilitated MIT's IDEAS China program--a ten month innovation journey for a group of 30 or so senior Ch...

New CBO Long-Term Budget Projections Tell Familiar Story

Paul N. Van de Water | Posted 09.14.2014 | Politics
Paul N. Van de Water

The Congressional Budget Office's new long-term budget projections, released today, are very similar to those that CBO published in September 2013 and to ones that we released in May 2014. They show that the nation's fiscal outlook is stable for the rest of this decade and then worsens gradually.

Dilma Is Likely to Be Reelected, So Why Are Brazilians Celebrating?

Daniel Wagner | Posted 09.06.2014 | World
Daniel Wagner

The wind appears to again be at Dilma Rousseff's back again, as Brazil's performance at the World Cup has virtually assured that she will be re-elected -- politics working as politics do.

Brazil's Passion Trumped Logic -- And That's a Good Thing

Suraj Patel | Posted 07.04.2014 | Sports
Suraj Patel

t's hard to think that Russia, or Qatar, or frankly anywhere could match that atmosphere.

Gross Domestic Problem: Don't Shoot the Measurement

Brian Czech | Posted 09.01.2014 | Business
Brian Czech

As our economy exceeds the capacity of the planet to sustain us and future generations, we need to monitor the size of our economy more closely than ever. And there is no better measurement of the size of our economy than GDP.

Should Happiness, More Than GDP, Define A Nation's Success?

CNN Money | Jeanne Sahadi | Posted 07.01.2014 | World

The drafters of the Declaration of Independence didn't really define "Happiness" when they cited the pursuit of it as an inalienable right. But in ...

The Federal Reserve Board --The Adults in the Room

Terry Connelly | Posted 08.27.2014 | Business
Terry Connelly

If you asked the average person how they feel about the Federal Reserve's latest economic projection that trimmed its estimate of 2014 U.S. GDP growth to a range of 2.1-2.3 percent, they would probably say that's not so hot -- not a recession, but quite depressing nonetheless.

The Economy Isn't As Bad As You Think-- But It's Still Pretty Bad

www.newrepublic.com | Posted 06.26.2014 | Business

The economy contracted at an annualized rate of negative 2.9 percent in the first quarter of this year. In other words, the economy in the first thr...

5 Years After the Great Recession, Our Economy Still Far from Recovered

Andrew Fieldhouse | Posted 08.26.2014 | Politics
Andrew Fieldhouse

Five years after the end of the Great Recession, the economy is far from healthy. A tragic mix of budgetary blunders and congressional inaction deserve the lion's share of the blame for this.

Whoa! Whassup with That Big Negative Q1 GDP Revision?

Jared Bernstein | Posted 08.25.2014 | Politics
Jared Bernstein

Real GDP contracted at a 2.9 percent rate according to revised data released on Wednesday. That's contracted, as in went down. So, are we back in recession?

Stop Exporting Jobs With the Stroke of a Pen!

John Komlos | Posted 08.23.2014 | Business
John Komlos

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.

Buy the Numbers? Our Confounding and Insufficient Government Statistics

Frank Islam | Posted 08.18.2014 | Politics
Frank Islam

We currently have a national system of leading indicators that does not include or count important things that can be counted. We need one that does.