Highly skewed income distribution reduces social mobility. The locked-in advantages of children at the top of the income scale may already be irreversible.
Germans seem to have forgotten that Germany was the beneficiary of debt forgiveness several times in the twentieth century, after mistakes far worse than Greece's.
"Austerity" has been the common language of the modern international economy, but is under attack now by the new interpretation of wealth accumulation and finance.
President Obama makes it clear that he thinks it’s more important to win a long-term argument with his ideological opponents than to pretend they'll work with him.
Most American pay packets are lagging behind the growth in the economy. Why? To answer this requires a little background on the Federal Reserve Board.
The nation faces problems that are real and pressing. Yet our political system remains stagnant—and that’s unlikely to change even after 2014.
After years of economic travail caused by Wall Street excesses and increasing worry over rising inequality and declining mobility, the culture shows signs of change.
A current policy debate once again pits the bulk of the economics profession against common sense.
The conviction is new that the exclusive purpose of the business corporation is to profit its professional managers and stockholders.
Lenders are often allowed to foreclose without significant judicial involvement, putting the burden on homeowners to prove the lender is not entitled to do so.
You wonder if the president might find himself singing a variant on Kermit the Frog's anthem about the burdens of being green: It's not easy being Barack Obama.
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