Because of the recent financial crisis, teaching the basic principles of economics is harder than ever.
Retailer J.C. Penney announced a new pricing policy that will make its prices more rigid and other retailers are moving in that direction.
As many as 70 percent of Americans believe that the United States is in decline. And who can blame them? High unemployment. Crushing debt. Political gridlock. For all the unrelenting gloom, Old Dominion University political science professor Steve Yetiv explains that America remains strong in key areas, unlikely to be superseded by another country anytime soon. He urges readers to consider these 8 facts:
After attending a European Central Bank workshop on global liquidity, the author learned that European monetary economists sound surprisingly like Austrian economists.
The annual World Economic Forum in Davos, Switzerland, will discuss not only the Europe's debt woes but also the future of capitalism. Even some billionaires in Davos are worried about income inequality.
The European debt crisis provides Germany the opportunity to preach its disciplined approach to monetary policy. Should it succeed in remaking Europe in its monetary image, Europe will prosper. Those who follow the Anglo-American model of Keynsian loose money must fall in line.
Europe’s debt crisis has roiled financial markets and populations. But beyond nationwide strikes and gyrating markets, Europe has put its crisis to good use. Here Jacob Funk Kirkegaard, a research fellow at the Peter G. Peterson Institute for International Economics points out five trends that will ultimately strengthen the European Union and the euro currency.
Supply side economic practice deepens the deficit and worsens inequality
An other-worldly market for goods would increase demand for exports and prop up the economy, some Keynesians suggest.