Posts tagged with: economics

keep-calm-and-expect-the-unexpected-18Today at Bloomberg we find this unexpected news about unemployment:

Applications for U.S. unemployment benefits unexpectedly climbed to a nine-week high, underscoring the difficulty adjusting the data for seasonal variations such as the Easter holiday and spring recess at schools.

Jobless claims rose by 14,000 to 344,000 in the period ended April 26, the highest level since Feb. 22, Labor Department data showed today in Washington. The median forecast in a Bloomberg survey of economists called for 320,000.

There are two things the media never expects: (1) The Spanish Inquisition and (2) increases in jobless claims. Over the past five years, in 30 of the past 60 months,  the media has considered it “unexpected” when jobless claims increase:

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Poor us. We women are being told we aren’t getting equal pay, and now we’re apparently lagging in confidence. The Atlantic recently published “The Confidence Gap,” saying we not only lack confidence, but it’s an “acute lack of confidence.” We “feel like an imposter” as we do our jobs, we can’t bring ourselves to ask for a raise, we are forever underestimating ourselves.

As my incredibly confident mother would say, “Horse feathers.”

Who are these women? Where are these women? The women I know were raised by confident women, had confident women that taught them, had confident aunts and grandmothers and godmothers who nurtured them. We read Anne of Green Gables and Little House on the Prairie, we studied about Marie Curie and Sally Ride, watched Mia Hamm and Chrissy Evert.

Amy Otto at The Federalist has some suggestions for these poor ladies who’ve lost their confidence. Fear not, Otto says, you can handle things. (more…)

Blog author: jballor
Thursday, April 24, 2014
By

cittfcSpeaking of Thomas Piketty, here’s a very helpful and revealing interview with Matthew Yglesias, “Thomas Piketty doesn’t hate capitalism: He just wants to fix it.” (HT: PEG)

A few highlights with some comment:

On the need for a historical perspective in economics:

Thomas Piketty: … It’s not only economists’ fault. Historians and sociologists are too often are leaving the study of economic issues to economists. Sometimes nobody does it.
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FeaturedImageOn this Earth Day, says Pierre Desrochers, we should spare a thought for the profit motive, an unheralded but long-standing champion of the environment. “The search for increased profitability,” ntoes Desrochers, “has long delivered both economic and environmental improvements by promoting the evermore efficient use of material resources.”

With Earth Day near (this Monday), we hear the usual annual litany of laments from environmentalists, urging us to mend the errors of our industrial ways. Greed and profits, we are told in no uncertain terms, inevitably result in unmanageable pollution problems, the depletion of non-renewable resources, habitat and species destruction, and a regulatory “race to the bottom” among competing jurisdictions.

[. . .]

Typically missing from this debate, however, is the notion that the search for increased profitability has long delivered both economic and environmental improvements by promoting the increasingly efficient use of material resources, or, in other words, the creation of ever more economic value while using ever less physical stuff. While this notion is obvious in an age where whole libraries can be stored on small electronic devices, perhaps the best statement on the subject still belongs to Jonathan Swift, who argued nearly three centuries ago in Gulliver’s Travels that whoever “could make two Ears of Corn, or two blades of Grass to grow upon a Spot of Ground where only one grew before, would deserve better of Mankind, and do more essential Service to his Country than the whole Race of Politicians put together.

One small quibble: Desrochers’ otherwise fine article is marred by the title’s equating of the profit motive with “greed.” While I’m sure the term was merely used for rhetorical effect, the promotion of free enterprise is always harmed by the unnecessary association with the sinful and destructive motive of greed.

On Saturday morning, Acton Institute President Rev. Robert A. Sirico joined host Larry Kudlow on the nationally syndicated Larry Kudlow Show for a wide-ranging Easter weekend discussion. Sirico and Kudlow talked about everything from the so-called “Gospel of Jesus’ Wife” to the collapse of poverty rates worldwide over the past few decades, and ended with a conversation about the upcoming canonizations of Pope John XXIII and Pope John Paul II, and a reflection on whether the march of secularism can be turned back in western society.

You can listen to the interview via the audio player below.

Acton Institute President and Cofounder Rev. Robert A. Sirico joined host Josh Tolley on The Josh Tolley Show on the GCN Radio Network to discuss the recent meeting at the Vatican between Pope Francis and US President Barack Obama. Sirico speaks about the discrepancy between the White House and Vatican recaps of the meeting and how that reflects the different purposes that the leaders had for the meeting as well as their different approach to dealing with social problems.

You can listen to the interview using the audio player below.

l_20121213-school-reform-145-600-300If you really care about income inequality, notes John Goodman, you need only focus on one thing — the inequality of educational opportunity:

The topic du jour on the left these days is inequality. But why does the left care about inequality? Do they really want to lift those at the bottom of the income ladder? Or are they just looking for one more reason to increase the power of government?

If you care about those at the bottom then you are wasting your time and everyone else’s time unless you focus on one and only one phenomenon: the inequality of educational opportunity. Poor kids are almost always enrolled in bad schools. Rich kids are almost always in good schools.

So what does the left have to say about the public school system? Almost nothing. Nothing? That’s right. Nothing. I can’t remember ever seeing an editorial by Paul Krugman on how to reform the public schools. So I Googled to see if I have missed something. The only thing I found was a negative post about vouchers. And Krugman is not alone.

You almost never see anything written by left-of-center folks on reforming the public schools. And I have noticed on TV talk shows that it’s almost impossible to get liberals to agree to the most modest of all reform ideas: getting rid of bad teachers and making sure we keep the good ones.

(Via: AEI Ideas)