Myths of Economic Statistics
The American economy is growing. It's not roaring, but it's growing, and at a good pace. According to the latest figures from the Bureau of Economic Analysis, real US gross...
Policy
Let the Government Default on Its Bonds — And Build a Better Budget on the Ruins
Conventional wisdom in Washington and New York is that a US default on its interest payments due to bond investors is unthinkable. Editorial after editorial proclaims that a US default...
How a Progressive Tax System Made Detroit a Powerhouse (and Could Again)
Detroit’s property tax base, diminished and badly-assessed, could still fund a renewal if Michigan would only read its history and find the political will. By Mason Gaffney and Polly Cleveland...
The Economics Anti-Textbook: A Critical Thinker’s Guide to Microeconomics
It was the perfect “natural experiment:” in April 1992, New Jersey’s minimum-wage was scheduled to rise from $4.25 an hour to $5.05, while neighboring Pennsylvania’s minimum wage remained unchanged. Princeton...
Satisfaction and Smiles in an Unequal World
Happiness, modern science shows, has many dimensions besides the economic growth we usually zero in on.
The Pothole in Our Political Psyche
The more wealth concentrates, the more feeble a society’s investing in infrastructure.
Here’s What Democracy, Economically, Looks Like
The global media spotlight may be gone, but Egypt's revolutionaries are still making history, with a spirited campaign for a 'maximum wage.' The global press corps is no longer hanging...
Finding the Good in the ‘Good Old Days’
It’s federal budget time, and they’re talking 1950s on Capitol Hill. Well, sometimes we can move forward by turning the political clock back. But we have to know exactly where...