Median, inflation-adjusted household income increased 6.8% last year, to $68,703—among the fastest gains on record—as more Americans got jobs and wages rose, according to annual data released Tuesday by the U.S. Census Bureau.
We think “Wheel of Fortune” and “Jeopardy,” two uniquely American shows, give insights into at least three American sensibilities.
The Federal Reserve Bank of St. Louis’ has reported the U.S. household savings rate at 26% for the second quarter of 2020, nearly three times the post-WWII average of 9%.
Few fallacies are repeated more often than the myth that massive government stimulus packages are necessary to sustain the economy during a recession.
Our classes will combine in-classroom student interaction with major online components.
The Hong Kong freedom movement deserves our support and sympathy.
We did NOT suffer a shrinkage in GDP of 32.9% between the first and second quarters of 2020—more like a 9.5% shrinkage.
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.
The field of economics is facing an upheaval, with African American scholars decrying bias in the profession and presenting evidence that leading journals have failed to publish sufficient research that documents racial inequalities.
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.
