Acton Institute Powerblog Archives

Post Tagged 'Gross domestic product'

A Policy Solution to Fix Inequality and Boost GDP

Andrew Biggs of AEI has a piece up today at Forbes addressing the gender pay gap and provides a neat solution: “forbid women from staying at home with their children.” As Biggs points out, such a policy would address perhaps the greatest root cause of gender pay inequality: varied work experience attributable to choices women make. Continue Reading...

How to Understand GDP

What is Gross Domestic Product (GDP)? The definition is rather straightforward: GDP is the market value of all finished goods and services, produced within a country in a year. But that’s not very useful in trying to understand the concept. Continue Reading...

How to Measure an Economy

Among the most significant economic challenges in America today is getting Americans to understand what an economy is. When the Latin term oeconomia was first used in the 1500s it meant “household management.” A few centuries later, the term political economy was used in reference to the economies of states or polities. Continue Reading...

Recessions and Recoveries

Stanford economists Russ Roberts and John Taylor offer a helpful discussion potential GDP, recessions, and recoveries. Their comparison of previous recession/recovery cycles to the most recent one helps to illuminate just how unusual (read: terrible) our current recovery has been. Continue Reading...

The Real Both/And Budget Solution

I had the pleasure of appearing on Relevant Radio last Friday to talk to Sheila Liaugminas on her show, “A Closer Look.” I discussed the idea of “intergenerational justice,” a term favored by evangelicals (Roman Catholics tend to talk about “intergenerational solidarity”), and how that concept relates to much of today’s discussion about the federal budget. Continue Reading...