Economics

15 Things You Should Know about the 2018 Partial Government Shutdown 0
- Economics
- December 27, 2018
1. What just happened? On Friday, the federal government entered a partial shutdown after the Senate failed to pass a spending bill that includes border wall funding. President Trump refuses to sign any additional funding that does not include $5.1 billion in additional money to pay for an extension of the border wall, allowing him
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Three Times Keynes Was Not a Keynesian 0
- Economics
- December 20, 2018
John Maynard Keynes is, together with Milton Friedman, the most influential economist of the 20th century. His most acclaimed work, The General Theory of Employment, Interest and Money, contributed to the paradigm shift that took place in the economics profession in the mid-1930s. He’s also the most quoted economist among non-economists, who more often than
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Watch the Growth of the World’s 10 Largest Economies over the Last 60 Years 0
- Economics
- December 17, 2018
In economics, GDP (gross domestic product) is defined as “the total value of goods produced and services provided” in a nation in a given year. If you’re not a student or teacher of economics, you probably don’t hear a lot about GDP unless it happens to be trending the wrong way and a nation finds
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Is New York City Entering a Pension Death Spiral like Chicago?0
- Economics
- December 11, 2018
As bad as the situation in Chicago is, with a public pension system 42 billion in the red, New York has even worse exposure. Its standings include 65 billion in unfunded pension liabilities, 100 billion in unfunded retiree health care, and a city debt of approximately 50 billion – for a grand total of 215
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What the New Socialists in Congress Need to Know About Poverty 0
- Economics
- December 7, 2018
In a few short weeks, America will welcome the 116th Congress. Among the loud and celebrated voices in the new Congress are those who not only accept socialism as a viable option for America, but also those who celebrate their ties to organizations like the Democratic Socialists of America. Incoming Reps. Alexandria Ocasio-Cortez of New
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How the $15 Minimum Wage is Pushing New York’s Car Washers to the Margins 0
- Economics
- December 4, 2018
As protests for a $15-per-hour minimum wage continue to rage across the country, cities like Seattle and Minneapolis and states like California and New York have begun to adopt such schemes, leading to a range of unfortunate case studies in economic destruction. Despite the popular narrative that such laws will benefit the most vulnerable and put the powerful in check, the negative consequences have tended to
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