US unemployment shot up sharply during the Great Recession of 2008-2009. Since then, it has dropped back to more normal levels. Is unemployment now low enough? Let’s look at some facts. Multiple unemployment metrics The unemployment rate is defined as the percentage of the overall labor force that is jobless. Simple enough, right? Not really. … Continue reading Has unemployment dropped enough since the Great Recession?
Some people believe that corporations in a capitalist economy wield tremendous power. Hollywood movie plots reinforce this view by depicting corporations as powerful and shadowy entities. Is this accurate? Not really. In the real world, (a) corporations wield far less power than imagined, (b) consumers and employees hold more power than they think, and (c) … Continue reading With capitalism, who holds power?
Most products and services have become more affordable over the past half century due to lower prices or wages growing faster than prices. But not all products and services are more affordable. College stands out as a stark exception. Why has college become less affordable? Skyrocketing college cost First, let’s look at some data to … Continue reading Why is college expensive?