Dec 16 Column: Raising the minimum wage lowers employment for teens and low-skill workers By Diana Furchtgott-Roth Raising the minimum wage to $15 an hour makes a good soundbite, but the people who will be hurt are those who are least able to look after themselves. Continue reading
Dec 15 Watch 8:49 How prediction market prophets bet on the wrong president By PBS News Hour The election outcome shocked the world. Pollsters, pundits and prediction market traders overwhelmingly predicted a huge Clinton victory. There were, however, some dissenters. Economics correspondent Paul Solman explores how history and economic factors can shed light on the upset. Continue watching
Dec 15 How did the pollsters get Trump’s win so wrong? They didn’t, says economist Justin Wolfers By Paul Solman Donald Trump was elected president, but the grand majority of polls, pollsters and prediction markets showed that a Clinton presidency was more likely. How did they get it so wrong?… Continue reading
Dec 15 Column: Several governments are destroying their own bank notes. Here’s why. By Vikram Mansharamani Nov. 8 will be remembered in India for a long time to come. In a televised speech to the nation, Prime Minister Narendra Modi announced that cash notes representing 86 percent of the country’s circulating currency would no longer be… Continue reading
Dec 15 Column: Would EPA deregulation help industry? History says otherwise By George C. Lodge It is a truism often forgotten: Industries need regulation — for their own protection and profitability. Continue reading
Dec 15 Obama administration files 15th trade challenge against China By Kevin Freking, Associated Press The Obama administration says it is trying to hold China to its commitment to allow set quantities of grain and corn to enter the country subject to a lower tariff rate. Continue reading
Dec 14 Watch 4:32 Raising interest rate, Fed sees stronger economy and faces uncertain policy By PBS News Hour The Federal Reserve hiked a benchmark interest rate on Wednesday. Largely expected but only the second time since 2008, it was a big deal for Fed Chair Janet Yellen to make the announcement. Why now? Jeffrey Brown speaks with Diane… Continue watching
Dec 14 Federal Reserve raises key interest rate and signals more to come in 2017 By Kristen Doerer The Federal Reserve decided today to raise its benchmark interest rate .25 percent, a move widely expected by investors and economists. So what does the move mean for you?… Continue reading
Dec 14 Column: Social Security needs to be reformed, not have its funding cut By Philip Moeller There is ample room for disagreement over how to reform Social Security. There should be no disagreement over adequately funding the agency to do its appointed job. Continue reading
Dec 12 Column: Why the Fed may aggressively raise rates in 2017 By Terry Burnham To understand Janet Yellen’s motivation, consider that it has been seven years since the last U.S. recession ended. Since World War II, recessions have arrived about once every six years. Another recession is coming; the only unknown is the date. Continue reading