In the long view of history, technological advancement unleashed by the Industrial Revolution has come to be seen as a net positive for economic development and everyone’s well-being, even those workers who initially lost their jobs. There’s reason to wonder, however, if this “second machine age” may be different.
Inside the Democratic Party, economic policy is often seen as a contest between President Barack Obama’s track record and the anti-Wall Street approach advocated by Massachusetts Sen. Elizabeth Warren. As Hillary Rodham Clinton heads for an expected 2016 run for president, her allies are pointing her toward something in-between. Continue reading
Citing likely tough confirmation proceedings, former Treasury Secretary Lawrence Summers withdrew his name to be the next chairman of the Federal Reserve. Jeffrey Brown gets analysis from David Wessel of The Wall Street Journal about who President Obama might nominate and the politics around Summers’ surprise announcement. Continue reading
As the Senate prepares to consider new financial regulations, Jeffrey Brown talks to White House financial adviser Larry Summers about whether reform efforts could prevent another financial meltdown. Continue reading
Columnists Mark Shields and Michael Gerson weigh the news of the week, including President Barack Obama’s approach on the economy, his decision to lift restrictions on stem cell research funding, and more. Continue reading
Wall Street marked its best run since November this week as President Obama worked to boost confidence in recovery moves. The Wall Street Journal’s David Wessel offers insight. Continue reading
While introducing his team of economic advisors Monday, President-elect Barack Obama urged the incoming Congress to pass an economic stimulus plan “right away” to address the nation’s ongoing economic crisis. Continue reading