Marriage sure is simpler nowadays than in the world depicted in Jane Austen’s novels (and the public TV versions of them). But the relative economic simplicity of marriage in contemporary America contrasts with complexities still faced by many people in…
Cure the disease, not just the symptoms
Politicians and journalists are missing a key question when talking about ongoing U.S. economic problems: Is the current slowdown in economic activity and decline in asset prices cyclical or structural? Without answering that question, much public discussion is pointless. Cyclical…
Recession onset is an “unknown unknown”
Talk of recession in the United States has gotten louder recently. Last summer Alan Greenspan saw a 30 percent chance. Now he describes a greater than 50 percent probability. An Associated Press article last week quoted one Wall Street economist…
Data show rich indeed get richer
The World Bank says India and China are poorer than previously thought. Though both are still among the world’s largest economies, the adjustment was not minor: the value of the two countries’ output dropped 40 percent. Yet despite this drastic…