by Timothy Taylor, Conversable Economist
The role of US women in the (paid) labor force has shifted dramatically in the last half-century or so. For example, the figure shows the labor force participation rate (which includes both those holding jobs and those who are unemployed and looking for work) for men and women since the late 1940s.
by Philip Pilkington
A few days ago I wrote a post outlining Joan Robinson’s criticisms of the logical structure of marginal utility theory. It got quite a good response. Robinson’s point was that the manner in which the theory was constructed rendered it useless. Examined carefully it said or could say nothing of substance.
by Elliott Morss, Morss Global Finance
We have heard a lot of “loose” statements from Trump on what he will do to countries “cheating on trade” when he becomes President. In this piece, I examine the underpinnings of his assertions and speculate on what his trade policies will actually be when he becomes President.
-- this post authored by Michael Bordo and Arunima Sinha
A Comparison of the 1932 Open Market Purchases with Quantitative Easing
In the wake of the Great Recession, the Federal Reserve took unprecedented measures to stem economic decline. This column uses the Fed’s open-market operations in 1932, another period of short-term rates near the zero lower bound, as a comparison for the QE1 operation of 2008-09. Although the 1932 policy boosted output and inflation, if the Fed had announced the operation in advance and carried it out for a full year, the Great Depression could have been attenuated considerably earlier.