Since September 11, U.S. media have focused their attention strongly on terrorism, Osama bin Laden, anthrax, Afghanistan and Israeli-Palestinian conflict. But other international news, especially economic, has largely dropped off the screen. This is unfortunate. Ongoing economic crises in Japan…
Deficits can teach lessons
Earlier this week Minnesota officials said that the state faces a budget deficit of about $2 billion through the middle of 2003. Minnesota is not alone—some 46 states reportedly face budget shortfalls. A few, such as Arizona, already have their…
Long-run projections are often misleading, even silly
“Based on current demographic trends and labor force participation rates, the workplace is expected to face a shortage of 26.9 million employees by 2031.” That prediction comes from a study released in late August by the Employment Policy Institute, a…
Danger: data drama
On Monday, the National Bureau of Economic Research announced that the United States has been in a recession that began last March. This was generally known, but the economists’ declaration made it quasi-official. And on Tuesday, the Conference Board said…