By any economic measure, we are living in disappointing times. In the United States, 7.2% of the normal productive labor currently stands idle, while the employment gap in Europe is rising and due to exceed that of the US by the end of the year. So it is important to … More >
Business & Economics
Why should anyone thank you for just doing your job? And why should you ever thank your coworkers for doing what they’re paid to do?
These are common questions in American workplaces, often posed rhetorically—and sometimes with hostility.
Elsewhere in American life, we say “thank you” to acknowledge the good things we … More >
By Martha L. Olney and Aaron Pacitti
Recovery from recessions takes longer than it has in the past.
The current crisis aside, this change has not happened because recessions themselves are longer. Nor has it occurred because recessions are deeper than in the past. Instead this change is the result of slower … More >
I just spent a few weeks in Japan and China on a book tour for the Japanese and Chinese versions of the Startup Owners Manual.
In this series of 5 posts, I thought I’d share what I learned in China. My post about Japan will follow. All the usual caveats apply. I was … More >
Their agreement is very preliminary and hasn’t yet even been blessed by the so-called Gang of Eight Senators working on immigration reform, but the mere fact that AFL-CIO President Richard Trumka and Chamber of Commerce President Thomas J. Donohue agreed on anything is remarkable.
The question is whether it’s a good … More >
In a recent column in the Atlantic called “Building the Wealth of the Poor and Middle Class,” Noah Smith suggests a few ways to improve the unequal distribution of wealth in America. He notes that “one obvious thing we could do to make wealth more equal is – surprise! -redistribution…Giving the poor … More >
Recently I learned one of my dear colleagues, Bob Evenson from Yale University, passed away. Bob grew up on a farm in the Minnesota and got his PhD at the University of Chicago. He became a leading development economist, and taught for more than 30 years mostly at Yale.
My early … More >
Differences in attitudes towards welfare and redistribution are an important source of political tension, especially during recessions. What factors shape people’s attitudes towards welfare and redistribution?
There are two main strands of thought on this question in the literature. One strand emphasizes economic self-interest as a key determinant of attitudes toward … More >
“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to … More >
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