The length of the recovery has allowed the unemployment rate to fall to 3.7 percent, the lowest rate in almost 50 years. And the tighter labor market has also meant rising wages for those at the middle and bottom of the income ladder.
Trade policy has been an important factor in the upward redistribution of wealth over the prior four decades. This is a path definitely worth changing.
The economist and policy types who have been pushing the trade agenda of the last four decades often make assertions like “everyone gains from trade.” This is what is known in the economics profession as a “lie.”
Few of the people retiring 10 or 15 years from now will be receiving any income from a defined benefit pension Under the plan put in place in New York, workers who do not have a plan at their workplace would automatically have 3 percent of their pay deducted and placed into an account managed by the government.
The soaring price of Bitcoin is a useful lesson about markets for people who seem to very quickly forget the last lesson. Bitcoin, a digital algorithm, backed by absolutely nothing, has been selling for more than $16,000.
The Trump administration assures us that ordinary workers will still come out ahead because their corporate tax cuts will lead to a huge surge of investment. There is pretty much zero reason to believe this.