Ed Dolan's Econ Blog

Archive for August, 2014

  • US Corporate Profits Rebound from Winter Slump as GDP Growth Looks Even Stronger than Thought

    The latest data from the Bureau of Economic Analysis show that US GDP grew at a 4.2 percent annual rate in the second quarter of 2014, even more strongly than previously reported. Corporate profits showed the beginnings of a rebound from their winter slump. Although they remain short of the all-time highs reached over the […]

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  • A Universal Basic Income and Work Incentives. Part 2: Evidence

    In Part 1 of this series, I outlined some basic economic theory regarding a universal basic income (UBI) and work incentives. By a UBI, I mean an income support policy that provides a set monthly benefit to every citizen. A UBI, as I define it, would to everyone, regardless of income, wealth, or employment status. […]

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  • A Universal Basic Income and Work Incentives. Part 1: Theory

    Everywhere you look, it seems, people are talking about a Universal Basic Income (UBI)—a monthly cash benefit paid to every citizen that would replace the existing means-tested welfare system. Supporters maintain that a UBI would not only provide income support to people in need, but would also increase work incentives. That is because, unlike the […]

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  • Krugman vs. the Libertarians on Phosphorus and Freedom

    Paul Krugman is at it again with a stunningly ignorant NYT op-ed on libertarians and the environment, “Phosphorus and Freedom.” As the author of a book on the libertarian perspective on environmental policy, I would like to respond. Phosphorus comes into the picture in the form of agricultural runoff that pollutes Lake Erie, recently making […]

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  • How Many Miles Can You Drive on an Hour’s Wages? 100 Years in One Chart

    Recently I came across this assertion in a comment box on one of my favorite websites: “The cost to fuel your car has never been higher as a percentage of disposable income.” Really? I know gasoline prices are high, but you just can’t make that assertion without looking at incomes and fuel economy, too. I […]

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  • US Job Market Turns in Best Six-Month Run Since Recovery Began

    Today’s report from the BLS showed that the US economy added 209,000 payroll jobs in July. With upward revisions for May and June, total job growth for the past six months comes to 1,400,000, making it the best six-month stretch since the recovery began. Private sector employers added jobs in both goods and services. The […]

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