Trade and Jobs: Why the Protectionist Cure Could be Worse Than the Globalization Disease

Trade and Jobs: Why the Protectionist Cure Could be Worse Than the Globalization Disease

photo: Steven Straiton Dramatic promises to restrict international trade were a signature element of Donald Trump’s presidential campaign. So far, he seems to be following through, with an early reaffirmation of his intent to withdraw US participation in the Trans-Pacific Partnership (TPP). An aggressive stance on trade played a key role in gaining the support of […]

A Lesson in Unintended Consequences: How Clinton’s Policies Would Raise Effective Tax Rates for the Middle Class

A Lesson in Unintended Consequences: How Clinton’s Policies Would Raise Effective Tax Rates for the Middle Class

photo: Marc Nozell Hillary Clinton is often said to be a policy wonk, deeply enmeshed in specifics and details, but that may be a mischaracterization. In some ways, her approach seems disturbingly superficial, skipping one perceived problem to another with little attention to their underlying causes. In some cases, Clinton seems to have paid little attention […]

How Occupational Licensing Undermines Labor Fluidity

How Occupational Licensing Undermines Labor Fluidity

photo: yy yeung A healthy economy requires a fluid labor market. Even when total employment and output are stable, the labor market is in constant motion. Jobs disappear when firms close or downsize. Other jobs appear when new firms open or old ones expand. People move freely from one job to another in search of career […]

What Does the Unemployment Rate Measure? Labor Market Slack or the Social Stress of Joblessness? Why Does it Matter?

What Does the Unemployment Rate Measure? Labor Market Slack or the Social Stress of Joblessness? Why Does it Matter?

photo: Rui Duarte The unemployment rate published monthly by the Bureau of Labor Statistics is one of the most widely watched of all economic indicators. But why? What does it really measure? The news media, politicians, and voters tend to see the unemployment rate as an index of the social stress of joblessness. There is ample […]

Voters Are Angry About Free Trade. What Is the Right Policy Response?

Voters Are Angry About Free Trade. What Is the Right Policy Response?

photo: DonkeyHotey The two most watched candidates of this presidential election season, Donald Trump and Bernie Sanders, have put anger over the effects of free trade at the center of their campaigns. In doing so, they have won millions of votes. Many of the arguments they use in their stump speeches are overly simplistic, but the […]

Voters are Angry about Free Trade. What is the Right Policy Response?

The two most watched candidates of this presidential election season, Donald Trump and Bernie Sanders, have put anger over the effects of free trade at the center of their campaigns. In doing so, they have won millions of votes. Many of the arguments they use in their stump speeches are overly simplistic, but the anger […]

Janet Yellen’s Quiet Revolution

Janet Yellen’s Quiet Revolution

Donald Trump turned his rhetorical bazooka on Janet Yellen this week, accusing the Fed chair of being “highly political” and merely doing President Barack Obama’s bidding by declining to raise interest rates. In this as in so many things he says, Trump was issuing wisdom from his rear end, but the GOP candidate from clowntown […]

The Workweek of Part-Time Workers

The Workweek of Part-Time Workers

photo: Jeffrey Smith ABSTRACT. Data on weekly work schedules indicate the coexistence of two groups of part-time workers. The first group represents about 40 percent of part- time employment and comprises those who work a few hours every day of the workweek, mostly during standard business hours. The other group contains workers with either variable weekly […]

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