Several days ago, the Bureau of Labor Statistics issued a report based upon their last Establishment Survey of Employment, which covers other topics as well, one of which is labor productivity. Besides reporting a dismal sub-par increase in jobs...
Our concern is for our future (both near and far) ability to conduct effective monetary policy and fiscal policy. Let’s examine the alarming data and the theoretical reasons for this concern. It is very clear that the U.S. federal government’s...
Even though a person is in the Civilian Noninstitutional Population, if they are not working and are not seeking employment, they are not considered to be part of the labor force. As this phenomenon occurs and widens, we encounter what is called...
Has the wedding thought to be made in Heaven really been one forged in hell? Do you remember when Margaret Thatcher stopped referring to the European Union and began to champion an ‘Atlantic Union’? While the U.S. borders on the Atlantic Ocean, the...
Oil Prices, Market Size, Division of Labor, Productivity and the Standard of Living are all related and Waving Red Flags at mounting Problems Economics textbooks have become much larger and much, much, more expensive. Nonetheless, it seems that they...
Mr. President, members of both houses of the Congress of the United States of America, elected officials of all State and Local governments in this nation and its territories and all appointed bureaucrats: TEAR DOWN THIS WALL OF RESTRICTIONS ON THE...
According to recent testimony by Federal Reserve Chairman, Ben Bernanke: Nevertheless, as shown by indicators like the rate of unemployment and the ratio of employment to population, we still have a long way to go before the labor market can be said...
There is a real life story that has haunted me since it occurred 25 or so years ago. The University of Detroit, at which I was teaching at the time, had a very diverse student body from many nations and nearly every continent. As Chair of the...
