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Republican Senator Mike Lee of Utah is worried. He is worried about the country’s economic trajectory, given rising inequality, the shrinking of the middle class, and the persistence of intergenerational poverty. And he is worried about its social trajectory, based on growing political and regional polarization, rising distrust in institutions, falling rates of marriage and […]
flickr/Green Energy Futures Economists are often wringing their hands over why, despite a continuous eight-year economic recovery, workers’ wages remain largely stagnant, extending a trend that began some three decades ago. Yet anyone who has applied for a job in the last couple of years knows that, while the US unemployment rate is historically low […]
Thomson Reuters At a conference of policymakers and financial industry executives last month, Treasury Secretary Steven Mnuchin said that the nascent Trump tax plan, which consists mostly of individual and corporate tax cuts, “will pay for itself with growth.” Economists surveyed by the University of Chicago’s Booth School of Business say otherwise. The survey, published […]
COMPETITION from Chinese imports may have cost some Americans jobs, but economists have done pretty well out of it. Since 2013 David Autor, David Dorn and Gordon Hanson have published nine separate studies digging into the costs of trade. They have found that, of the fall in manufacturing jobs between 1990 and 2007, one-quarter could […]
