Leading economists' misdiagnosis of inflation in 2021-22 was the latest episode in a long-running series of failures. Either mainstream economists need to re-examine their core beliefs, or the profession needs a new mainstream.
Increased militancy after pandemic sacrifices and tighter labor market contributed to impressive contract deals in the last year.
The Biden administration is getting bad data and bad advice — but there’s a way out.
The Fed’s pursuit of its 2% inflation target will slow economic growth, repress wage gains, make almost everyone’s job less secure, and put us at risk for a recession.
A POLITICO analysis shows that pandemic-era policies reversed the trend toward a widening income gap. The move away from them threatens those gains. Which way will Biden turn?
Inflation has been slowing but mainstream news reports that it is still high, and the Fed continues to talk about "high wages," and is raising interest rates to slow the economy and stop wage growth.
The study is the latest piece of evidence to demonstrate the depth of New York City’s affordability crisis, which is reshaping local demographics and culture.
Economic models do not, and never can, fully reflect the extraordinary complexity of human markets. The point is to create useful abstractions to provide decision-makers with a sense of the budgetary and economic impacts of a given policy proposal.
The deal boosts some wages to $31 an hour. It reflects pressure hotels face to raise pay amid inflation and labor shortages. The hike is closing the gap between the 7,000 covered suburban workers and their union counterparts in New York City.
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