Written by Steven Hansen
This past week, the electoral college confirmed Donald Trump was going to be the next USA President. He did not win the majority of popular votes cast - but won the majority of electors in the system designed by the founding fathers which was intended to prevent the more populous states from dominating the election process. Much of our economic policies seemed geared towards higher population areas, and falling short in rural America.
by Philip Pilkington
I was going to run a blog on Hans Albert’s critique of the quantity theory of money but it appears that Lord Keynes has gotten there ahead of me. I just wanted to pull out one point in this short note that he raised, as it proved to be one of the most difficult I encountered when trying to formulate a general theory of pricing.
-- this post authored by Sandra Black, Jason Furman, Laura Giuliano, and Wilson Powell
Over the past three years, 18 states plus the District of Columbia have implemented minimum wage increases, joining ten other states that have raised their minimum wages at least once since the last Federal increase in 2009. This column examines the impact of the more recent state increases on wages, weekly earnings, and employment among workers in the low-wage leisure and hospitality Industry. A comparison with states with no minimum wage increase since 2009 suggests that the recent legislation contributed to substantial wage increases with no discernible impact on employment levels or hours worked.
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.