The first estimate of fourth quarter US GDP was released this week. It showed that the US economy shrank in the fourth quarter. The White House’s response to slow US growth was to blame congressional Republicans and disband the US Jobs Council. Apparently there is no great need for more jobs now that the 2012 …
Category Archive: Macro related
Feb
01
Permanent link to this article: http://wkubbtcenter.com/2013/02/01/the-amateur/
Jan
17
Yes, We have no Manna Today
The economy continues to grow at a slower than normal pace. In Wednesday’s WSJ, Richard Vedder wrote The Wages of Unemployment. He argued that our slow economic growth since 2000 was the result of a declining labor force participation rate. In short, people are not working as much as they used to and it is …
Permanent link to this article: http://wkubbtcenter.com/2013/01/17/yes-we-have-no-manna-today/
Sep
21
Multiplying Stupidity
Work has become passé. The labor force participation rate fell to a 31 year low in August as another 368,000 people left the work force. It also represented the lowest labor force participation rate on record for men at 69.8%. That rate does not even include those who are incarcerated. The US has more than …
Permanent link to this article: http://wkubbtcenter.com/2012/09/21/multiplying-stupidity/
Sep
05
Corny (but not Funny) US Agricultural Policy
The mission statement for the US Department of Agriculture states, “We provide leadership on food, agriculture, natural resources, and related issues based on sound public policy, the best available science, and efficient management.” While that doesn’t immediately send the masses rolling on the ground in hysteria it should. That statement is pretty funny when you …
Permanent link to this article: http://wkubbtcenter.com/2012/09/05/corny-but-not-funny-us-agricultural-policy/
Aug
31
Unemployment and the Unemployable
The US unemployment rate rose to 8.3% in July and Jobless claims in August have risen by 10,000 over July. The slowly growing US economy is not denting the 8% unemployment rate. Keynesian economists believe that this must be due to some lack in demand for US goods and services. If only Congress could borrow …
Permanent link to this article: http://wkubbtcenter.com/2012/08/31/unemployment-and-the-unemployable/
Jul
27
Where’s the Growth?
You Didn’t Build That The government reported today that GDP growth in the second quarter was a mere 1.5%. The average growth rate over the last two years has been 2.1%. From 1950 through 2011, the economy averaged a growth rate of 3.3%. The economy that has been growing more slowly than normal is now …
Permanent link to this article: http://wkubbtcenter.com/2012/07/27/wheres-the-growth/
May
16
The Certainty of Bad Policy Makers
Do you know what your tax rates are going to be next year? Will the Bush tax cuts expire as planned? How will that affect you? Will the payroll tax “holiday” be extended? Will the debt ceiling be raised? Will it be another temporary last minute deal that involves no real spending cuts but makes …
Tags: debt, economic growth, entitlement reform, tax cuts, uncertainty
Permanent link to this article: http://wkubbtcenter.com/2012/05/16/the-certainty-of-bad-policy-makers/
May
04
All Play and no Work Makes the US a Poor Country
Sometimes looks can be deceiving. April’s unemployment rate fell from 8.2% to 8.1% which looks good. On the other hand, the labor force participation rate continued to fall and hit a 30 plus year low. Fewer people are in the labor force now than were there at the beginning of the economic recovery. If the …
Permanent link to this article: http://wkubbtcenter.com/2012/05/04/all-play-and-no-work-makes-the-us-a-poor-country/
Apr
24
All Play and No Work Makes Johnny a Poor Boy
I was eight years old when I began working six days a week, fifty two weeks a year delivering newspapers. By age 13, I had two jobs. I worked through high school and college. No, this isn’t the 1930’s I’m referring to but the 1980’s and 90’s. Times, they are a changing – particularly for …
Permanent link to this article: http://wkubbtcenter.com/2012/04/24/all-play-and-no-work-makes-johnny-a-poor-boy/
Mar
19
Blind(er) Faith in the Government
Alan Blinder was at it again in Monday’s WSJ, as he warned against a 2013 fiscal cliff. One wonders if he is not too blind to tell the difference between a cliff and a mountain. The cliff Professor Blinder worries about involves programmed tax increases and spending cuts set to take effect in January 2013. …
Tags: Alan Blinder, cliff, debt, deficit, economic growth, government spending, mountain, taxes
Permanent link to this article: http://wkubbtcenter.com/2012/03/19/blinder-faith-in-the-government/
Twelve Week Agenda
- No events listed in the next 12 weeks
Recent Posts
- Kentucky Tax Reform
- Where have Kentucky’s Workers Gone?
- The Macro Economy, Education, and Race in Employment
- Kentucky’s Labor Market Ranks 49th
- Youth Employment and The Last 30 Years of the Minimum Wage in the United States
- Should We Transfer Money from the Top 1%?
- The Lack of Slavery May Be Hurting Economic Growth; Or, How to Miss the Forest of Human Flourishing for the Trees of GDP Growth.
- The Rest of the Story: Employment Recovery?
- Give, Share, and Take are not Synonyms
- Kentucky’s Budget and Tax “Reform”
Blogroll
- August 18 2014 Kentucky Tongight: The Minimum Wage
- Feb 17 2014 Kentucky Tonight: Tax Reform
- John Goodman's Sept 17th WKU lecture: The Rights and Wrongs of Health Care Reform: Part 3
- July 16 2012 Kentucky Tonight
- Kentucky Tonight, July 25th 2011 Discussion of US Debt Limit
- Kentucky Tonight, June 6th, 2011 Discussion of Economic Recovery
- September 23 2013 Kentucky Tonight, Debt Ceiling
- September 24th 2012 KET Kentucky Tonight: Jobs and the Economy
Local Links
- "Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem
- 2011 Ranking of State Economic Freedom, Mecatus Center
- Economic Freedom & Quality of Life
- Economic Freedom In America Today
- Fight of the Century: Keynes vs. Hayek Round Two
- Hans Rosling's 200 Countries, 200 Years, 4 Minutes – The Joy of Stats – BBC Four
- Heritage Foundation 2011 Rank of Economic Freedom
- I Smartphone
- John Goodman's Sept 17th WKU lecture: The Rights and Wrongs of Health Care Reform: Part 1
- John Goodman's Sept 17th WKU lecture: The Rights and Wrongs of Health Care Reform: Part 2
- September 24th KET Kentucky Tonight: Jobs and the Economy
- WKU Center for Applied Economics