Recently, a number of economists and commentators have suggested that faster productivity growth would be a big way to boost the income of middle-class households. I’m all for faster productivity growth, though I’d argue no one knows how to reliably make it happen. But given the wedge of inequality between productivity and low and middle… Read more
Robert Samuelson has a few good words for full employment, coming off of our event a few weeks ago. He makes some useful points: –not only is full employment an important goal, but it’s a bipartisan one, or at least it should be; –no one really knows with any precision what the “natural rate” of… Read more
Just a look at the figure tells you pretty much what you need to know…over at PostEverything.
When it comes to the debate over whether the Trans Pacific Partnership trade agreement should include rules against managing currency, the recent, sharp rise in the value of the dollar offers a little something for everyone. For TPP supporters who oppose a currency chapter—i.e., explicit actions to be taken against signatories who push down the value… Read more
I’ve often touted the UK think tank, the Resolution Foundation, for their timely, accessible, and smart policy work on all the key issues–macro, micro, budgets. But their work has been particularly important in raising the issue of wage stagnation in the UK–basically, the Brits caught our wage disease–median and low-wage stagnation, growing dispersion–later than us, but… Read more