Puerto Rico’s economic woes have led some analysts to compare it to Greece. Paradoxically, Puerto Rico’s colonial status explains both its growth and the impending financial debacle.
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Articles on US economy
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Inflation-adjusted wages for most private-sector workers are the highest since 1979.
While a surge in hiring by small companies is helping lower the jobless rate, larger firms paying higher salaries play a bigger role in keeping the recovery alive.
Janet Yellen and her Fed colleagues know that wage growth and inflation are still too low to support an increase in interest rates in June.
Every year I ask my class on “Wealth and Poverty” to play a simple game. I have them split up into pairs, and imagine I’m giving one of them $1,000. They can keep some of the money only on condition they…
The recent political standoff that shut down the US government for 16 days and came uncomfortably close to the debt ceiling extension deadline is now thankfully over — for the moment. Given the current…
The US government shutdown is in its second week, but attention in the country has shifted elsewhere: to the looming debt ceiling crisis. On October 17, the US runs out of money to pay its bills. Both…
Most commentary on the US government shutdown concerns the apparent disregard some pigheaded Republicans have for the harm it could do to the American and global economies. While the shutdown will likely…
Republican Speaker John Boehner faced a choice between two unappetising gambles on Monday night. One option was to cut a deal with Democrats to continue federal government spending at present levels, and…
In both the US and UK, policymakers have been excited to see a small but significant increase in manufacturing activity and exports. While growth in manufacturing jobs has been sporadic, the creation of…
With the US economy experiencing an extremely slow recovery from the recession of 2007-09, debates over the role of monetary policy have come to the forefront, especially given the variety of new powers…
Recent years have demonstrated the enduring strength of a core Keynesian insight: deficit spending may result in higher growth and enable states to move more quickly into surplus. In this light, Australian…
Is it 2013 or 1999? Barack Obama’s evolution into a more successful Bill Clinton may be complete with the issuance of his recent budget. On the one hand, Obama’s budget cuts entitlement spending by adopting…
The maelstrom surrounding budget cuts that has engulfed the United States over the last twelve months seems no nearer to reaching a satisfactory conclusion. The U.S. Congressional House and Senate currently…
The first thing you should know about the sequester is that nearly everyone agrees that it’s a bad idea. In fact, that was the point. In the summer of 2011, with congressional Republicans refusing to raise…
In his State of the Union address, US President Barack Obama reignited a perennial debate in his proposal to increase the minimum wage from its current level of $7.25 an hour to $9.00 an hour. Advocating…
Barack Obama opened his fourth state of the union address to Congress with words from another Democratic president, John Kennedy: “The Constitution makes us not rivals for power but partners for progress…
President Obama left little doubt during his State of the Union address as to what his top priority will be in the years ahead. “A growing economy that creates good, middle-class jobs”, the President declared…
In the midst of genuine economic and political challenges, Tea Party Republicans have been hard at work generating additional problems. From the debt-ceiling showdown that cost the US its AAA credit rating…
Fiscal cliff. Grand bargain. Shared sacrifice. The buzzwords on Capitol Hill this December tell a dramatic story. The United States, hurtling toward an unavoidable economic disaster, can be saved only…
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Associate Professor of Markets, Public Policy and Law, Boston University
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Part-Time Professor of Economics, The New School
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Professor of Economics, UNSW Sydney
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Associate Professor of International Relations, Australian National University
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Associate Professor of Finance, Mississippi State University
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Professor of Economics, University of Nebraska Omaha
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Visiting Faculty in Economics, Emory University
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Professor of Management, Co-Director of the MIT Sloan Institute for Work and Employment Research, MIT Sloan School of Management
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Assistant Professor, Miller Center, University of Virginia, and US Studies Centre, University of Sydney
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Associate Professor of Economics, Lehigh University
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Professor/Economist, Massachusetts Institute of Technology (MIT)
