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Trade Deficit at $42.6 Billion in October

From the Department of Commerce reported:The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $42.6 billion in October, up $6.4 billion from $36.2 billion in September, revised. Show More Summary

Global markets climb on Wall Street’s new high

Across Asia and Europe, nearly every exchange marks rising stock prices even as the crude oil rally peters out

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Most-Recent Must-Reads: Neville Morley: _[When It Changed][]_: "Eric Hobsbawm['s]... short twentieth century... [an] idea... found in Stefan Zweig’s _Die Welt von Gestern_... (Tu) James Kwak: _[The Deduction Fairy][]_: "Incoming Treasury Secretary Steven Mnuchin promised a big tax cut for corporations and the 'middle class', but not for the...

Bill Black: Jobs, Jobs, Jobs – Not Austerity

Any plan by Democrats to “Help Working People” should begin with the word “jobs.” But an obsession with austerity makes that impossible.

If you really want to go – Germany and Brexit

A recent Vox eBook examined the the potential issues facing various EU members when it comes to negotiating with the UK over Brexit. This column, taken from the eBook, focuses on Germany and argues that as the country's prosperity is...Show More Summary

Saudi Arabia Surrenders To U.S. Shale

Saudi Arabia has finally blinked. What does that mean in practical terms?

What America Can Learn About Smart Schools in Other Countries

The U.S. fared poorly, as usual, in a worldwide ranking of students’ test scores, but it showed significant gains among disadvantaged teenagers.

Will Donald Trump's two Steves clash over banks?

Unlike Treasury Secretary-designate Steve Mnuchin, chief strategist Steve Bannon is a Wall Street-loathing bomb thrower

6 top women's subscription gift boxes

Holiday shoppers now have hundreds of boxes to choose from, but picking a winner depends on budget and taste

How will U.S. home prices fare in 2017?

Home buyers and sellers must factor the prospect of rising interest rates as they consider when to pull the trigger

Mixing charity and shopping: Check before you spend

It often seems like a good idea to buy a product and have some portion of the sale go to charity, but sometimes it’s not

Employment fell because of the Great Recession, not the minimum wage: Study claiming the minimum wage harmed low-wage workers fails conventional tests

There is no significant evidence that job losses in the post-2007 period were driven by minimum wage increases. Rather, industrial and geographic exposure to the Great Recession account for the employment differences between states with and without significant minimum wage increases.

Unequal public-sector pay in Connecticut? Yes—taxpayers are getting a bargain!

Summary The Yankee Institute for Public Policy has published a report claiming that compensation for public-sector workers in Connecticut is 25 percent to 46 percent higher than for comparable workers in the private sector.

Macroeconomics in the Crossfire (Again)

Economists are finally 'fessing up to the fact that macroeconomics was never all that good and has regressed in recent decades.

Tuesday: Trade Deficit

From Matthew Graham at Mortgage News Daily: Mortgage Rates Begin Week HigherMortgage rates were slightly higher today relative to last Friday's levels, leaving them near the 2-year highs seen last Thursday. Volatility continues to run...Show More Summary

Banking regulatory reform: The way forward

As with previous systemic crises, the 2007-2009 crisis has created regulatory reform, but is it adequate? This column argues that prudential regulation should consider interactions between conduct – capital, liquidity, disclosure requirements, macroprudential ratios – and structural instruments, and also coordinate with competition policy. Show More Summary

Henderson on Extending Hayek's Insight

(December 5, 2016 04:40 PM, by David Henderson) Hayek's conclusion about the importance of local knowledge can be extended far beyond markets into many parts of our lives. In this essay, I summarize Hayek's argument and then apply it to some good things that happened on September 11,... (0 COMMENTS)

Is a Higher Minimum Wage the Key to More Rapid Productivity Growth?

Economists have been disappointed by the extraordinarily weak productivity growth of the last decade. Low productivity growth mean that there is less room for improvements in living standards and more leisure. Fortunately there may be an answer. Show More Summary

Amazon's newest shopping disruption is a doozy

Its planned Amazon Go grocery stores will let customers buy goods and pay automatically -- no checkout lines needed

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