Robert Gordon sees the absence of significant growth prior to 1750 as evidence that “the rapid progress made over the past 250 years could well…
Month: April 2014
Several weeks ago, a major impediment to implementing a quantitative easing policy by the ECB was removed when the head of the typically conservative Bundesbank’s,…
Companies powered the U.S. job market past a milestone in March as private employment exceeded the pre-recession peak for the first time, showing the kind…
In the most recent jobs report, the US economy is said to have added 192,000 jobs in March. While, slightly below the expectation of 206,000…
The head of the IMF, Christine Lagarde, said Wednesday that the global economic recovery is not moving fast enough. She blames the crisis in Ukraine,…
The trade deficit in the U.S. unexpectedly widened in February to the highest level in five months as exports of fuels and capital equipment dropped.…
China’s debt is poised to keep expanding faster than the economy through at least 2016, testing the limits of a credit-driven growth model that’s already…
Recently, states have used tax exporting to alleviate the tax burden on their states’ residents. Through this method states like Alaska and Wyoming come up…
Today, IMF Managing Director Christine Lagarde said that the global economy could experience years of sluggish growth if central bankers and lawmakers around the world…
The U.S. manufacturing expansion accelerated in March, driven by gains in production and orders, in the latest sign that the economy is shaking off its…
After years of modest price increases, the American public commonly misconstrues inflation. Today, consumers still cannot wrap their heads around the ideas that inflation is really low and that inflation can be too low. Over the past year through February, the Consumer Price Index rose only 1.1 percent. Although consumers enjoy the relatively low prices for goods, low inflation causes three problems for the whole economy.
One problem with low inflation is that it negatively affects wages. When prices do not generally go up, workers’ wages do not generally go up as well. Despite the low inflation levels in the United States, hourly and weekly earnings have rose pretty well over the last year. During this time period, hourly and weekly wages have increased by 4 percent and 3 percent respectively. However, these rising wages are not sustainable because employers will not keep raising their employees’ wages faster than the price they charge consumers.
A new report published today by the Eurostat statistical agency has shown that the unemployment rate of the Eurozone remains at 11.9%, just shy of…
In her first public remarks outside of Washington since taking the reigns of the Fed in February, Federal Reserve Chairwoman assured the market that the…
As fossil fuel prices rise and the pollution caused by them grows, the world looks to unlock a source of clean energy. One potential source is the ocean. The process to try and to harness the sea to make electricity consists of three principles: “underwater turbines that draw power from the ebb and flow of tides, surface-based floats that rely on wave motion and systems that exploit differences in water temperature”. Currently, the European Union has led the charge to capture electricity from the ocean.