Category Archives: economy
Percentage of applicants offered undergraduate admission to Harvard this year: 6.2 Percentage of applicants accepted for employment on McDonald’s National Hiring Day in April: 6.2 – from Harper’s Index, June 2011 via TYWKIWDBI Hard days to an applicant of most … Continue reading
Faced with this prospect (triggered defense cuts), Republicans — who normally insist that the government can’t create jobs, and who have argued that lower, not higher, federal spending is the key to recovery — have rushed to oppose any cuts … Continue reading
There is no evidence of structural unemployment. I don’t know how anyone can say with a straight face “The high rate is structural given long-term employment trends” or even “The high rate is now structural because the recession popped a … Continue reading
Yesterday, Oct. 3, 2011, the S&P 500 closed at 1,099.23. Exactly three years ago, on Oct. 3, 2008, the S&P 500 closed at 1,099.23. Freakonomics Things are not much improved, things are much the same. If we ignore the mortgage … Continue reading
And it’s because this recession is different. This recession was not caused by inflation like the recession in the early 80s, and not part of the business cycle. For our purposes, we need to stop using Friedman’s logic and go … Continue reading
As the talk show host Tavis Smiley and I have said in our national tour against poverty, the recent budget deal is only the latest phase of a 30-year, top-down, one-sided war against the poor and working people in the … Continue reading
It’s almost like the economy is, in fact, doing poorly and actions by the the government to do something about it is reassuring to investors. Who knew.