The U.S. Department of Labor just proposed raising the overtime threshold – what you can be paid and still qualify to be paid “time-and-a-half” beyond 40 hours per week – from $23,600 a year to $50,400.
This is a big deal. Some 5 million workers will get a raise (see video).
Business lobbies are … More >
Uri Regev, a teacher and friend of mine, passed away on April 22 in Israel at the age of 80. Uri grew up in Kibbutz Yagur in Israel, studied economics at Hebrew University and came to Berkeley, where he got his Ph.D. in agricultural economics in 1968. He spent most of … More >
Recently I was interviewed for an article published in California Magazine. It is a well-written article about the controversy surrounding genetically modified organisms (GMOs). I made my usual points: GMOs have actually done much good by reducing commodity prices, increasing yields, saving land and reducing greenhouse gas emissions, and improving … More >
I recently attended the annual research conference of the Association for Public Policy Analysis and Management. For those who do not frequent academic conferences, this is a get-together of people like me and several of yr. obdt. bloggers, where we break up into “sessions” of about an hour and a half, … More >
Brazilians will head to the polls on Oct. 5 to vote in a tight presidential race. President Dilma Rousseff’s leading challenger is Socialist Party candidate Marina Silva. A key component of Silva’s economic platform is her support for a more independent central bank. Central bank independence, long a topic of interest to … More >
Slovenia is a small Slavic nation in the middle of Europe, between Latin and Germanic countries (Italy and Austria), and is an embodiment of all three. It has been under Austrian rule for 1000 years, and was freed by Napoleon, who is considered a hero (they have a nice statue … More >
After years of mismanagement and looting, Ukraine faces a number of economic challenges. The situation is so critical that weak economic performance in the next few years could undermine the very independence of the country. Just yesterday, President Poroshenko signed a degree setting up the National Council for Reforms to … More >
Over at Equitable Growth: The extremely wise Robert Skidelsky has an excellent rant against Anglo-Saxon economics departments:
Robert Skidesky: Knocking the scientific halo off mainstream economists’ teaching and research: “The growing discontent of economics students…
…with the university curriculum…. Students at the University of Manchester advocated an approach ‘that begins with economic … More >
Financial Networks and Contagion,” a recent paper by Matthew Elliott, Benjamin Golub, and Matthew Jackson, uses network theory to study how financial interdependencies among governments, central banks, investment banks, and other institutions can lead to cascading defaults and failures.
While the model is quite technical, the main theoretical findings are … More >