Posts Tagged ‘unemployment’

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    Unemployment Questions

    Feb 6, 11 • 200 Views • No Comments

    Friday’s employment report had good news and bad news. There was considerably less unemployment and considerably less job creation. Moving from 9.4% to 9%, the unemployment rate decreased more than most people expected. However, the job creation number,...  [read more]

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    A New Way to See Friction

    Jan 4, 11 • 238 Views • No Comments

    Thinking about friction, most people picture 2 surfaces rubbing together. As economists, we should instead think of the Nobel Prize. Friction is one reason that Dale Mortensen won the 2010 Nobel Prize in Economics. Discussing unemployment, Dr. Mortensen says...  [read more]

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    Outsourcing and Immigration

    Nov 4, 10 • 210 Views • No Comments

    A recent economics paper provides a surprising solution to those who believe outsourcing is a problem. The story, as explained by George Mason economist Tyler Cowen, involves the connection between offshore jobs and immigration. Traditionally, economists say...  [read more]

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    A Phone Call From Adam Smith

    Oct 14, 10 • 228 Views • No Comments

    The phone rings. The caller says he is Adam Smith and you have won the Nobel Prize in Economics. Your response? As you know, the 18th century author of The Wealth of Nations, Adam Smith, is perhaps the greatest economic thinker. Seemingly chaotic, the market...  [read more]

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    More On Unemployment

    Oct 11, 10 • 246 Views • No Comments

    These are great graphs! In just a minute or 2, through a series from The Washington Post, you can understand our employment problems. Our starting point is potential output during the past decade. We see how much we could have produced if our land, labor, and...  [read more]