Category Archive: Macro related

Aug
12

The Macro Economy, Education, and Race in Employment

Which racial group in the US has the highest employment rate for 16-24 year olds with a college degree (recent college graduates)?  Which racial group in the US has the lowest employment rate for people aged 25 and over with a college degree?  The answers may surprise you. In her August 7th 2015 article on …

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Permanent link to this article: http://wkubbtcenter.com/2015/08/12/the-macro-economy-education-and-race-in-employment/

Aug
15

Youth Employment and The Last 30 Years of the Minimum Wage in the United States

The below chart illustrates the impact of minimum wage changes on the youth (aged 16-19) employment rates in the US over the last thirty years. The red line represents the real minimum wage from 1983-2012 (in 2012 $ x 7 for scale purposes) as provided by the US Department of Labor.  The blue line represents …

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Permanent link to this article: http://wkubbtcenter.com/2014/08/15/youth-employment-and-the-last-30-years-of-the-minimum-wage-in-the-united-states/

Jul
21

Should We Transfer Money from the Top 1%?

Are you ready to forcibly redistribute income from the top 1% of income earners to the other less fortunate 99%?  Don’t answer too quickly.  An income of just $32,400 places you in the top 1% of the world’s population.  For $32,400 a year you can be richer than seven billion other people. World’s Top      Income …

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Permanent link to this article: http://wkubbtcenter.com/2014/07/21/should-we-transfer-money-from-the-top-1/

May
02

The Rest of the Story: Employment Recovery?

The Bureau of Labor Statistics released the April Jobs numbers today.  The AP reported the following as their big story: US Gains 288K Jobs, Most in 2 Years; Rate 6.3%.  The unemployment rate fell in one month from 6.7% to 6.3%.  That sounds great, but in honor of the late Paul Harvey, “and now, the …

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Permanent link to this article: http://wkubbtcenter.com/2014/05/02/the-rest-of-the-story-employment-recovery/

Nov
21

Seven Habits of Highly Effective Economies

Stephen Covey first published The Seven Habits of Highly Effective People in 1989.  My children can name all seven habits because they are drilled into them at their local public school.  More effective people undoubtedly would create a more effective economy.  Below I attempt to apply the seven habits to an effective economy. Habit 1: …

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Permanent link to this article: http://wkubbtcenter.com/2013/11/21/seven-habits-of-highly-effective-economies/

Sep
05

Minimum Intelligence: Recent History of the Minimum Wage and Teenage Employment

Between 1955 and July 2013, the employment rate of teenagers aged 16-19 fell from 43.4% to 26.6%.  Rising family incomes surely allowed some youngsters to avoid the workforce altogether and rely on their parents for their material needs and wants.  However, rising incomes is only a small part of the story. The teenage unemployment rate …

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Permanent link to this article: http://wkubbtcenter.com/2013/09/05/minimum-intelligence-recent-history-of-the-minimum-wage-and-teenage-employment/

Aug
30

Pain and Gain: The Economic Principle, not the Movie

What’s not to like about increasing living standards for everyone?  Most people agree that economic growth is good because it allows people to have better access to food, clothing, shelter, health care, education, entertainment, and other nicer stuff.  A few don’t like economic growth because they mistakenly believe growth is bad for the environment or …

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Permanent link to this article: http://wkubbtcenter.com/2013/08/30/pain-and-gain-the-economic-principle-not-the-movie/

Feb
28

Political Game Theory: Why no one likes what comes out of Washington

The field of Public Choice extends the study of economics to governments.  It assumes that people in government behave the same as do people in the private sector.  By behave the same, they (according to Steven Horwitz) mean that people have intentions, use information, respond to incentives, and act in accordance to institutional rules set …

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Permanent link to this article: http://wkubbtcenter.com/2013/02/28/political-game-theory-why-no-one-likes-what-comes-out-of-washington/

Feb
22

A Sequester of Competence

The world did not end in December 2012.  The Mayans were wrong.  So too were those who prognosticated that the Fiscal Cliff would end the world as we know it on January 1st 2013.  But wait, we are supposed to believe that the four horsemen of the apocalypse will begin their ride on March 1st …

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Permanent link to this article: http://wkubbtcenter.com/2013/02/22/a-sequester-of-competence/

Feb
11

Economic Hail Maries

Now that American rules football is over for the season, and the Pope has resigned, people may fear for a drought of Hail Maries.  No worries.  Politicians who have enacted growth retarding economic policies continue to supply economic Hail Maries.  Even then, they don’t always know which end zone to aim for. To combat runaway …

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Permanent link to this article: http://wkubbtcenter.com/2013/02/11/economic-hail-maries/

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