Eliminating federal assistance leaves the involuntarily unemployed reliant on state programs, which provide an average of only $350 a week. Who wants to see millions of Americans stuck in such dire financial straits?
Debating mask wearing as a matter of individual liberty largely misses the boat.
On July 1, Beijing unilaterally imposed new rules that allow it to quash dissent in Hong Kong as the government does elsewhere in China.
The Fed has overstepped its bounds and embarked upon a form of market socialism that is detrimental to the long-run health of the economy
One overwhelming statistical fact is that deaths attributable to the COVID-19 virus are age-related.
It is time to end qualified immunity, the judicial policy that shields police officers from the legal consequences of violating the constitutional rights of citizens.
Marginal analysis is a cornerstone of economic reasoning. It’s the simple notion that the incremental value of a variable is what matters, not its total or average value.
How should BLS count the servers or hair stylists who did not work because of COVID-19 workplace closures? Technically, they ought to be counted as laid-off and unemployed. But apparently this isn’t happening.
Now the economy is opening back up and many universities are planning to resume in-person learning in the fall. But the fear of lawsuits could easily derail these plans.
We propose $1 trillion of new debt be specifically issued as Corona Bonds. The bonds should be long term and be backed by a small surtax on current federal income taxes earmarked for their repayment.
Epic levels of unemployment and declines in GDP take time to repair, even if we get good news such as better remedies or an effective vaccine. There are at least two reasons why.
Discussions of what constitutes a just price go all the way back to the ancient Greeks.
The economic notion of compensating-wage distinctions goes back to Adam Smith, who stated the “wages of labour vary with the ease or hardship, the cleanliness or dirtiness … of the employment.”
The cold, hard fact is that putting a value on human life is unavoidable.
The economy is not a machine that can be turned on or off. It is not as if President Trump, nor even Dr. Anthony Fauci, can declare, “OK, on May 17, it’s all over—everyone go back to work.” Rather, an economy is networks of relationships.
It is a safe bet that the pandemic will produce a decline in gross domestic product and unemployment rates at a level not seen since the Great Depression.
The day of reckoning comes when the U.S. Treasury has to choose between paying the interest on its bonds or paying its obligations to its pensioners.
What we call globalization is nothing new. Long-distance trade is as old as humankind.
Markets responded negatively to both Fed actions in March because the cuts themselves confirmed investors’ worst fears about the coronavirus’s impact on future profitability of American companies.
On March 3, the Federal Reserve cut its interest rate target by half a percentage point in a preemptive move to combat the economic risks caused by the coronavirus. Nevertheless, on March 9, the S&P 500 fell a stunning 7.6%.