Daily Policy Digest

Economic Issues

American Wages Remain Low

The average hourly pay for a nongovernment, non-supervisory worker, adjusted for price increases, declined to $8.77 last month from $8.85 at the end of the recession in June 2009...

California Homes Require Real Reach

Data indicates that the median house price in California in the early 1970s was 7 percent above the national average; by 2013, the price differential had risen to 109 percent...

Did Taxes Cause the Financial Crisis?

Financial firms in the United States pay about 34 percent of their profits in taxes, and, while they can deduct interest payments to creditors from taxable income, equity is not taxed as favorably...

Welfare Pays More than Minimum Wage in Most States

Welfare pays more than a minimum-wage job in 35 states, creating little incentive for Americans to take entry-level work and likely increasing their long-term dependency on government help...

Your Mortgage, Their Rent

The housing finance reforms that have the most bipartisan support appear to do nothing about the perverse capital requirements that penalize banks that originate safe loans while rewarding banks that hold securities backed by dodgy loans...

Stimulus Is Not the Solution to Greece's Economic Woes

Most New Deal programs had a multiplier effect on the private sector that was either small or sometimes even negative...

The Social Responsibility of Economists

The only social responsibility of economists is to maximize their career advancement within the scientific community of economists...

Troubled Teens Are More Likely to Be Successful Entrepreneurs

Self-employed workers with incorporated businesses were almost three times more likely to engage in illicit and risky activities as youth than were salaried workers...

You Don't Need Uncle Sam to Purchase a House

The American dream is not reflected in homeownership, but in the ability to decide for oneself whether the positive aspects of homeownership outweigh the costs and headaches of it...

Obama's Economic Approval Falls

According to a new poll, just 35 percent of Americans approve of the president's job on the economy, down from 42 percent in June; 62 percent disapprove...


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