Economic Roundup

Economic Roundup

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On March 21, the journal National Affairs published an article by Stanford economist John Taylor that is critical of discretionary economic policy and favors a more rules-based system.

A March 21 working paper from the Federal Reserve Bank of Atlanta examined the impact of having a child on women’s labor force participation.

Also on March 21, the National Bureau of Economic Research published a working paper found that fiscal stimulus in the U.S. was quite modest compared to other countries.

On March 18, Regulation magazine published an article by Texas Tech economist Michael Giberson that is highly critical of price gouging laws.

On March 17, International Economy magazine published an interview with recently departed National Economic Council director Lawrence Summers.

On March 16, the Spectrem Group released data showing that the number of households with a net worth of $1 million or more (net of home equity) rose to 8.4 million in 2010 from 7.8 million in 2009.

On March 16, the Census Bureau published a report on how long people spend in poverty. It finds that between 2004 and 2006, 29 percent of the population was technically below the poverty level for at least two months; however, only 3 percent of people were in poverty continuously.

A March 15 ABC News/Washington Post poll found that the percentage of people who believe that an economic recovery is underway has risen to 46 percent from 34 percent October.

A March 15 study by the Center for Economic and Policy Research argues that the bulk of unemployment is cyclical, not structural. Therefore, additional stimulus would reduce unemployment.

And on March 15, the Economic Policy Institute published a study on the growing disconnect between productivity and wages. Rising productivity should lead to higher wages, but for the last 20 years productivity has risen but wages have been stagnant.

On March 14, historian Melvyn Dubofsky posted a commentary that reviews the history of union-busting efforts.

On March 12, Yale economist Robert Shiller posted a paper on the economists’ worldview. He believes that in recent years it has become too narrow, thus contributing to the economic crisis; he urges a more philosophical approach to the discipline.

Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column at The Fiscal Times. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including the New York Times best-seller, Imposter: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday, 2006).

Bruce Bartlett’s columns focus on the intersection of politics and economics. The author of seven books, he worked in government for many years and was senior policy analyst in the Reagan White House.