Inflation

  • 12.01.17

    You're The Real Job Creator

    As the GOP tax plan, officially known as the Tax Cuts and Jobs Act, awaits reconciliation with the House, the threat of a mounting deficit is once again in the news....

    As the GOP tax plan, officially known as the Tax Cuts and Jobs Act, awaits reconciliation with the House, the threat of a mounting deficit is once again in the news. 

  • 03.24.17

    Senator Bernie Sanders’ Economic Advisor Shreds Trumponomics

    In this article about a paper by Stephanie Kelton's on the current state of the economy after the 2008 recession and "recovery." The article and Kelton argue that "there may be no more room for economic recovery given the economy has reached its true employment potential, or as Kelton puts it, " output is near its...

    In this article about a paper by Stephanie Kelton's on the current state of the economy after the 2008 recession and "recovery."

    The article and Kelton argue that "there may be no more room for economic recovery given the economy has reached its true employment potential, or as Kelton puts it, ” output is near its full employment ceiling not because the economy rose to its potential but because we lowered the definition of what we believe our nation’s productive capacity to be. It’s a bit like giving up on the idea that your child is capable of achieving straight As, relaxing the goal to a 2.0 GPA, and then celebrating when he presents you with across-the-board Cs.”"

    The article is critical of some of the possible outcomes of the new administration's economic policies.

  • 03.04.17

    Interview With Senator Nina Turner: Right-To-Work Laws Are Weakening The Middle Class And The Economy

    In this interview, Senator Nina Turner talks about her time in the Ohio State Senate and the issues that are most important to her. For Senator Turner, these issues include women's rights - "During her time in the Ohio Senate, Turner fought for legislation that would level the playing field for women and men-inclu...

    In this interview, Senator Nina Turner talks about her time in the Ohio State Senate and the issues that are most important to her.

    For Senator Turner, these issues include women's rights - "During her time in the Ohio Senate, Turner fought for legislation that would level the playing field for women and men—including introducing the “Viagra bill,” which would subject men to the same scrupulous levels of regulations women face over their reproductive choices"  as well as workers rights - "Workers' wages are not keeping up with inflation. Their wages are not on pace with the amount of work that they do. We work harder and longer in this country, and still people’s wages are not keeping up with that."

     

  • 01.04.17

    5 Facts About The Minimum Wage

    The Pew Research Center produces 5 facts about the minimum wage using their own public opinion data, as well as research from other reports and prominent sources. The 5 facts are: 1. Adjusted for inflation, the federal minimum wage peaked in 1968 2. Less than half (45%) of the 2.6 million hourly workers who were ...Read More

  • 10.02.16

    Facing Up To Income Inequality

    Jeffrey Sachs begins this article with a description of stagnating incomes "While household median incomes have stagnated since the late 1990s, the inflation-adjusted earnings of poorer households have stagnated for even longer, roughly 40 years" while higher income households have seen substantial increases. Sac...

    Jeffrey Sachs begins this article with a description of stagnating incomes "While household median incomes have stagnated since the late 1990s, the inflation-adjusted earnings of poorer households have stagnated for even longer, roughly 40 years" while higher income households have seen substantial increases. 

    Sachs describes that there are three main factors that contribute to this income inequality: technology, trade, and politics.

    Technology has raised demand for higher skilled, higher educated workers and has increased income for those groups while leaving other groups behind. While trade has increased competition for lower skilled industrial workers. Finally, politics in the United States has not tended to favor the working class and instead it benefits those who can pay for lobbying.

    Sachs then investigates the policies in the U.S. compared to those in other countries using the Gini index (a measure of income inequality varies between 0 - full income equality across households, and 1 - full-income inequality, in which one household has all the income) to compare countries both through market income and disposable income. He finds that the net distibution in the U.S. is especially low when compared to many other first world countries and ends with the statement that "these income comparisons underscore that America's high inequality is a choice, not an irreversible law of modern world economy."

     

  • 08.07.13

    The Dual Mandate: Right Goals, Wrong Institution?

    In this article Dr. Stephanie Kelton looks at the "dual mandate." The Dual Mandate is a monetary policy imposed by Congress in 1913 which "charges the Federal Reserve with responsibility for achieving two broad macroeconomic goals: "maximum employment and stable prices."" She discusses the different points of view...

    In this article Dr. Stephanie Kelton looks at the "dual mandate." The Dual Mandate is a monetary policy imposed by Congress in 1913 which "charges the Federal Reserve with responsibility for achieving two broad macroeconomic goals: “maximum employment and stable prices.”"

    She discusses the different points of view that the different sides of the aisle take on the issue: "Much has been made (especially by those on the left) of the benefits of having a dual mandate." in contrast to the republicans "Not a single Republican expressed support for the dual mandate when the issue came up during a presidential debate on September 12, 2011. 

    Dr. Kelton then discusses some of the solutions put forward but offers her own take on the situation: "Nearly everyone seems to believe one or both of the following: (1) high levels of employment and low rates of inflation are worthwhile goals; and (2) the Fed is the right agency to deliver on these goals. I don’t dispute the former, but I often wonder about the latter."