Statement of Mark Blyth Eastman Professor of Political Economy The Watson Institute for International Studies and Brown University Before the Committee on the Budget United States Senate Hearing on “The Benefits of a Balanced Budget” March 11th 2015
Federal Reserve policy is absolutely critical for attainment of full employment. Moreover, the Fed is actually legally mandated to pursue policies that promote maximum employment with price stability.
The rise of “independent contractors” is the most significant legal trend in the American workforce. We need a simpler test for determining who’s an employer and employee.
Since the late 1970s, wages for the bottom 70 percent of earners have been essentially stagnant, and between 2009 and 2013, real wages fell for the entire bottom 90 percent of the wage distribution.
The role of Saudi Arabia, he main OPEC oil exporter, in leading the low price strategy. Lowering the oil price helps the friendly countries, and hits the Saudi competitors.
