Acton Institute Powerblog Archives

Post Tagged 'recession'

Talented but Unemployed? God May Be Calling You to Grubby, Unglamorous Work

“When People Give Up Looking for Work, What Do They Do?” A Wall Street Journal story looks at the “millions of working-age men” sidelined by the economic slump, and warns that “the longer they’re out of work, the more their skills deteriorate and the harder it is to land the next job.” “Those who can’t find work often turn to safety net programs, such as food stamps, unemployment benefits and disability — programs that have ballooned since the recession began,” the article continues. Continue Reading...

University Study: Obamacare Cost West Michigan 1000 Jobs

A new study by Grand Valley State University professors Leslie Muller and Paul Isely suggests that the Affordable Care Act has already cost West Michigan 1000 jobs. Muller summarized the results in a Wood TV story: “Firms are actually holding off on hiring or their reducing their hiring that they were thinking they were going to be doing because of the ACA,” said Muller. Continue Reading...

Texas: Big, Hot, Cheap and Right in the New York Times!

Brian Burrough has a mostly enjoyable New York Times review of a book that’s mostly positive about my native state’s mostly small-government formula for economic growth. Some excerpts: Ms. Grieder, a onetime correspondent for The Economist who now works at Texas Monthly, and a Texan herself, has written a smart little book that … explains why the Texas economy is thriving. 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 Age of Uncertainty

If you continue to wonder why the U.S. economy, long after it has shown signs of life and has started to recover from the Great Recession in fits and starts, refuses to take off, here’s a pretty good answer: “Our entrepreneurs have lost faith in the federal government,” says Michael Franc. Continue Reading...

The Downside of Michigan Jobless Pay

I have close friends here in Michigan who are out of work–talented, principled, hard-working people who are either unemployed or seriously underemployed. My heart breaks for them and for everyone eager to work who has been blindsided by the current recession. Continue Reading...

The Economic Blame Game

Yesterday’s Grand Rapids Press had an attention-grabbing feature graphic, which highlights an online interactive “game” that gives more information about each of the candidates for the “economic blame game” bracket. Press Graphic/Milt Klingensmith The four brackets are broken down by group, so the four major categories at fault are 1) the financial industry; 2) consumers; 3) government; and 4) inexplicable forces. Continue Reading...

Free Trade Follies

Last week presidential candidate John McCain distanced himself from economic adviser Phil Gramm, after Gramm’s comments that America had become a “nation of whiners” and that the current concerns over a lagging economy amounted to a “mental recession” rather than any real phenomena. Continue Reading...

A Single-State Recession

The number of jobs (nonfarm, not seasonally-adjusted) added to the US economy since 2004 numbers around 6 million. But over the same period, Michigan has lost over 50,000 jobs. What’s going on? Continue Reading...