In an October 12 commentary, University of Massachusetts economist Nancy Folbre discussed the importance of two-earner couples in cushioning the impact of a high unemployment rate. She calls it the “spousal safety net” and references a new study by University of New Hampshire sociologist Kristen Smith.
In an October 12 commentary, Morgan Stanley economists Richard Berner and David Greenlaw are somewhat more optimistic about near-term growth than most economists. They cite rising exports, growing personal income, mortgage refinancings that are freeing up consumer cash flow, and continuing fiscal stimulus.
On October 11, the Royal Swedish Academy of Sciences announced that the Nobel Prize in economics this year was awarded to MIT economist Peter Diamond, Northwestern economist Dale Mortensen, and Christopher Pissarides of the London School of Economics for their work on unemployment. (Note: Diamond has been nominated to a seat on the Federal Reserve Board, but has been blocked by Republicans in the Senate.) In an October 11 commentary, Harvard economist Ed Glaeser explains the importance of their work.
In an October 8 commentary, Columbia University economist Jeffrey Sachs complains that short-run stimulus dominates economic thinking at the expense of policies that would improve the economy’s long-run growth potential.
An October 8 working paper from the Federal Reserve Bank of Boston finds that eliminating financial constraints of small firms could add up to 850,000 jobs to the economy.
An October 7 study from the International Centre for Science in Drug Policy is highly critical of U.S. policy toward marijuana, arguing that prohibition has clearly failed and urging a new policy of regulation and taxation.
In September, Goldman Sachs published a study on the geography of global innovation. Although the U.S. and Japan remain on top, China is rising rapidly. The study says that the ability to attract and retain skilled workers is key to sustaining innovation.