iOS app Android app

Gdp

The Wrong Question

Cylvia Hayes | Posted 04.17.2014 | Green
Cylvia Hayes

Economic growth in and of itself is not a guaranteed pathway to global prosperity and progress and indeed, under our current economic model, economic growth is the biggest driver accelerating climate change. We have to start asking the right questions: growth of what and for what?

Next Time, Read the Bill!

Charles Kolb | Posted 04.16.2014 | Politics
Charles Kolb

Is it really asking too much for our elected representatives to take the time to read and understand the laws on which they vote? Why should Congress be held to a lesser standard?

America's Pension Black Hole: Dissecting Warren Buffett's Tapeworm

Bob Swarup | Posted 03.31.2014 | Business
Bob Swarup

Warren Buffett described public pension plans as a "gigantic financial tapeworm" and warned of a decade of pain. He was right on the first point, less so on the second.

Dow Jones And GDP Figures Are Doing Great -- But Tell Us Far Less Than They Claim

The Philosophers' Mail | Posted 03.11.2014 | World

Last week the Dow Jones Industrial Average started on Monday at 16,162.70 and rose and fell each day. It surged on Friday towards 16,400 but fell back...

Why Austerity Is Counterproductive In The New Economy

Larry Summers | Posted 03.07.2014 | World
Larry Summers

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.

President Obama, the Do-Gooder

Dean Baker | Posted 03.03.2014 | Business
Dean Baker

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.

A Post-GDP World? How to Measure Real Progress in America

Michael Shank | Posted 02.28.2014 | Politics
Michael Shank

How should the US government institute supplemental national accounts that better reflect the well-being of the nation? The question stems from a central premise that new comprehensive indicators would lead to better-informed policymaking, and, in turn, genuine advances in the nation's prosperity.

States Are Ditching GDP

Sean McElwee | Posted 04.15.2014 | Business
Sean McElwee

In the wake of the Great Recession, Americans have become cognizant of the fact that GDP bears little connection to their well-being.

Positive Thinking Leads to Economic Decline

Matthew Hutson | Posted 04.14.2014 | Business
Matthew Hutson

As much as popular culture preaches against negative thinking, our capacities for vigilance and pessimism evolved for a reason

How the Obama Administration, Congress, and the Keynesians Gutted the Budget

Jeffrey Sachs | Posted 04.08.2014 | Business
Jeffrey Sachs

The discretionary civilian budget -- the part that looks after your and your children's future other than social security, health, and emergency support -- is disappearing. What about America's future scientific and technological leadership? What about America's role in fighting climate change and promoting clean energy through new R&D? Forget about it.

8 Ways to Make Obama's Opportunity Goals a Reality

Sarah van Gelder | Posted 04.01.2014 | Politics
Sarah van Gelder

If we were to measure the real wealth of our society -- our health and well-being, the health of the natural world, our level of education, etc. -- we would see that inequality itself is reducing our nation's well being, and the power of big corporations is allowing the degradation of our communities and environment.

U.S. Economy Shows Solid Growth

AP | Posted 04.01.2014 | Business

WASHINGTON (AP) — The U.S. economy grew at a 3.2 percent annual rate in the October-December quarter on the strength of the strongest consumer spend...

What a Wall Street Banker Says About Our Society

Sean McElwee | Posted 03.26.2014 | Politics
Sean McElwee

Could it be that as a society, we are addicted to growth? There are numerous indications that this is the case.

Growth Is Not Enough, Young People Want to Live in a Decent Society

Michael Green | Posted 03.25.2014 | Politics
Michael Green

A newly published global survey reveals that, for young people at least, social -- not economic -- challenges are the major priority. Politicians and business leaders should take heed.

Global Warming: Blame the English

Keith Gaby | Posted 03.24.2014 | Green
Keith Gaby

As we focus on what needs to be done, let's not forget how we got here. My tongue-in-cheek headline to this post aside, it's not a matter of blame, it's a matter of approaching the discussion with an understanding of the historical reality.

How Did We Reduce World War II Debt?

Harlan Green | Posted 03.18.2014 | Business
Harlan Green

There is a productive way to pay down the federal and consumer debt loads, instead of the austerity policies currently in vogue both here and in Europ...

Yellen Makes Bold Prediction For 2014

Reuters | Posted 03.11.2014 | Business

Jan 9 (Reuters) - Janet Yellen, who is set to take over as head of the Federal Reserve next month, is "hopeful" that U.S. economic g...

Greece at the Helm of the EU, an Irony in the Making

Justine Frangouli-Argyris | Posted 03.08.2014 | World
Justine Frangouli-Argyris

It is ironic that Greece, in the throes of its debt crisis, is preparing to assume the presidency of the European Union officially as of January 8. Pa...

Good News: Obamacare Clearly Isn't Stifling the Economy

Anthony W. Orlando | Posted 02.26.2014 | Politics
Anthony W. Orlando

The more of the law that's implemented, the better the economy seems to perform. How can that be?

Jon Ward

Taxing The Rich Is Not The Left's Economic Growth Strategy, Center For American Progress Leader Says

HuffingtonPost.com | Jon Ward | Posted 12.19.2013 | Politics

WASHINGTON -- Higher taxes on wealthy Americans is not the centerpiece of the progressive movement's solution to the nation's economic problems, the h...

Here's How Congress Might Not Screw Up The Economy

AP | By JOSH BOAK | Posted 02.17.2014 | Politics

WASHINGTON (AP) — The U.S. Congress did something Wednesday it hasn't done during three years of partisan warfare: Pass a budget deal that won't lik...

The One Percent Is Hogging So Much of Our Income That It's Holding the Economy Back

Anthony W. Orlando | Posted 02.16.2014 | Politics
Anthony W. Orlando

The reason is quite simple: Those workers are also consumers. When the 99 percent earn more, they spend more, and the one percent can produce more and earn more themselves.

WATCH: Should Countries Prioritize Measuring Happiness?

Posted 12.16.2013 | Healthy Living

The government surveys our income, spending and housing, but what about happiness? According to some experts, many societies have outgrown these more ...

Arts And Culture Adds $500 Billion To Nation's GDP

AP | BRETT ZONGKER | Posted 12.05.2013 | Arts

WASHINGTON (AP) — Creative industries led by Hollywood account for about $504 billion, or at least 3.2 percent of U.S. goods and services, the gover...

U.S. Economy Grew Faster Than We All Thought Last Quarter

Reuters | Posted 12.05.2013 | Business

WASHINGTON (Reuters) - The U.S. economy grew faster than initially estimated in the third quarter as businesses aggressively accumulated stock, but un...