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Monday, December 29, 2014

The Opportunity Cost of Driving Your Car Has Never Been Lower

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In August, I posted an item showing  how many miles you could drive your car on an hour’s wages . At that time, the average US price for ga...
Saturday, December 27, 2014

Behind the Fall of Russia's Ruble: Inflation, Oil Prices, Sanctions, and More

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Russia’s economy is in trouble. Growth has come to a halt. A recession looms in 2015. Inflation, interest rates, and capital flight are up...
Wednesday, December 24, 2014

US GDP Grows at 5 Percent in Q3 2014, Best of the Recovery

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The US economy grew at a 5 percent annual rate in Q3 2014, the fastest rate of the recovery, according to the third estimate released yester...
Saturday, December 6, 2014

As Jobs Surge, Term Structure of US Unemployment Remains Distorted

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The US economy added 321,000 payroll jobs in November, the best in almost three years. Strong upward revisions to September and October nu...
Monday, November 24, 2014

Universal Basic Income vs. Unemployment Insurance: Which is the Better Safety Net?

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A universal basic income (UBI) and unemployment insurance (UI) are two possible forms of social insurance for an economy in which job loss ...
Thursday, November 13, 2014

The Economics and Politics of a Variable, Price-Smoothing Energy Tax

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Oil is down again. The price of Brent crude, which moves US gasoline prices, is below $100 a barrel for the first time (save a single mont...
Saturday, November 8, 2014

US Job Growth Running at Highest Level in Six Years, Unemployment Falls to New Low of 5.8 Percent

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The first major report on the health of the US economy for the fourth quarter of 2014 showed continued gains in the job market. Payroll jo...