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Economics Professor


Tea with Nouriel Roubini, professor of economics. economist.com/video
Not all doom and gloom. The professor of economics on America's banking reforms, the risk of deflation in advanced economies and China's growth

Headlines from The Economist online

Politics, Philosophy & Economics current issue

Distributive and relational equality

Is equality a distributive value or does it rather point to the quality of social relationships? This article criticizes the distributive character of luck egalitarian theories of justice and fleshes out the central characteristics of an alternative, relational approach to equality. It examines a central objection to distributive theories: that such theories cannot account for the significance of how institutions treat people (as opposed to the outcomes they bring about). I discuss two variants of this objection: first, that distributive theories fail to account for the importance of how institutions cause good shortfalls and, second, that they fail to account for the normative attitude of social and political institutions expressed in different ways of treating people. The article argues that the causal variant of the objection has only very limited reach, and endorses the expressive variant: the attitudes expressed by institutions in their treatment of persons, such as contempt or neglect, generate potentially unjust social relationships and hierarchies. This should be the focus of a relational egalitarian approach to social justice. The article proceeds to explain how it is possible that artificial agents such as institutions have attitudes and how these attitudes are not reducible to those of the individuals that sustain them, and argues that distributive theories cannot be so modified as to account for such attitudes. It concludes by indicating several directions for the development of more worked-out conceptions of relational equality on this basis.


Just interactions in value conflicts: The Adversary Argumentation Principle

This article discusses a procedural, minimalist approach to justice in terms of fair hearing applicable to value conflicts at impasse in politics. This approach may be summarized in the Adversary Argumentation Principle (AAP): the idea that each side in a conflict should be heard. I engage with Stuart Hampshire’s efforts to justify the AAP and argue that those efforts have failed to provide normatively cogent foundations for it. I suggest deriving such foundations from a basic idea of procedural equality (all parties in a conflict should be granted an equal chance to have a say) which all conflicting parties could be thought to endorse. But what happens once all parties have been heard if no agreement is reached? Borrowing a distinction well known to scholars of peace studies, but surprisingly neglected by justice-driven political philosophers, I claim that although the AAP might be inconclusive with regard to resolving a conflict, it is a promising principle for managing value conflicts justly. The AAP is thus considered anew through the lens of conflict management: as a principle of justice to characterize normatively the way conflicting parties should interact for their interaction to be morally justifiable to such parties with a view to changing antagonistic conflict dynamics into cooperative ones.


Life is not a camping trip - on the desirability of Cohenite socialism

In Why Not Socialism?, GA Cohen defines socialism as the combined application of two moral principles: the egalitarian principle and the principle of community. The desirability of a social order organized around these two principles is illustrated by the ‘camping trip’ example. After describing the fundamental features of the camping trip scenario at reasonable length, Cohen argues that the desirability of such a social model is nearly self-explanatory, concluding therefore that the most significant challenges to socialism lie in its feasibility. This article argues that the desirability of the camping trip model as an appropriate ideal for society is less obvious than Cohen acknowledges. To argue my point, I shall compare the camping trip with another social practice that is equally small sized and characterized by strong emotional ties among its members, but in which the conditions of what I shall call ‘goal-monism’ and discontinuity in time do not hold, namely, the family.


Non-domination and pure negative liberty

The central insights of Philip Pettit’s republican account of liberty are that (1) freedom consists in the absence of domination and (2) non-domination is not reducible to what is commonly called ‘negative liberty’. Recently, however, Matthew Kramer and Ian Carter have questioned whether the harms identified by Pettit under the banner of domination are not equally well accounted for by what they call the ‘pure negative’ view. In this article, first I argue that Pettit’s response to their criticism is problematic insofar as it produces the following dilemma: either Pettit must concede that domination which one regards as consistent with one’s own best interests does not limit one’s freedom or he must embrace the implication that one can be forced to be free, a result he explici tly wants to avoid. Second, I argue that, despite the inadequacy of Pettit’s response, he is ultimately right in thinking that domination and negative liberty are sometimes compatible. My central contention, then, is that neither Pettit’s non-domination view nor Carter and Kramer’s pure negative view are able to account for the loss of liberty one suffers under conditions of domination.


Temporary labour migration, global redistribution, and democratic justice

Calls to expand temporary work programmes come from two directions. First, as global justice advocates observe, every year thousands of poor migrants cross borders in search of better opportunities, often in the form of improved employment opportunities. As a result, international organizations now lobby in favour of expanding ‘guest-work’ opportunities, that is, opportunities for citizens of poorer countries to migrate temporarily to wealthier countries to fill labour shortages. Second, temporary work programmes permit domestic governments to respond to two internal, contradictory political pressures: (1) to fill labour shortages and (2) to do so without increasing rates of permanent migration. Temporary work programmes permit governments to appear ‘tough’ on migration, while responding to employer pressure to locate workers willing to work in low-skilled, poorly remunerated positions. The coincidence of national self-interest and global justice generates a strong case in favour of expanding guest-work. We evaluate the moral benefits and burdens of expanding guest-work opportunities, and conclude that although there are benefits to be gleaned from the perspective of global wealth redistribution, at present, temporary work programmes are generally unjust. We will argue that just temporary work programmes, in time, permit temporary workers to attain citizenship. This spells the end of traditional temporary work programmes, which require that workers return to their home country in time; instead, what is temporary is the employment obligation that must be fulfilled as a requirement to access citizenship. As long as this requirement is met, we endorse guest-work programmes as a tool to respond to global inequality.


Most Popular Economics Articles from About.com

Value of the U.S. Dollar
The value of the U.S. dollar can be measured in three ways - exchange rates, Treasury yields and foreign currency reserves. find out how the worth of the American dollar compares using these three methods, and how changes in the dollar's value affects the US economy.

U.S. National Debt
A description of the US national debt, how the US debt got so large, and who owns it. How the US debt impacts you and the economy.

Dollar Collapse Imminent
Is the U.S. dollar in danger of an imminent collapse? What would cause the dollar to collapse? If the dollar does collapse, what will happen? What is the best way to protect your finances against a dollar collapse?

Cause of Recession
The causes of economic recession and the major causes of both the 2008 and 2001 recessions.

Obamacare
What is Obamacare? Find out the facts about its costs. Opponents want to repeal it because they say its unconstitutional. What are the full pros and cons of this controversial health care reform law.

Why Are Gas Prices So High?
High gas prices are caused by high oil prices, which are usually caused by supply and demand. More recently, high gas prices have been caused by oil futures speculation.

Great Depression of 1929
Causes of the Great Depression of 1929. Life during the Great Depression of 1929. What ended the Great Depression. Unemployment during the Great Depression

History of NAFTA
NAFTA was negotiated by President H.W. Bush in 1992 and enacted by President Clinton in 1994. Its purpose was to increase trade between the U.S., Canada and Mexico. Find out the history of NAFTA, and whether its achieved its purpose.

Economic Stimulus Package
What was in President Barack Obama's economic stimulus package?

GDP
Defines GDP and describes how Gross Domestic Product acts as the most important economic indicator of the US economy. Most important, explains how GDP affects you.

NATO
The purpose of NATO has expanded beyond the historial reason why it was created, which was to defend Europe. In recent years NATO countries have fought terrorism in Afghanistan, protected civilians in Libya, and combated piracy in the Indian Ocean. The existence of NATO set the stage for today's economic alliances, as well.

Fiscal Year
A Fiscal Year can start in any quarter. Find out why companies and the U.S. government use fiscal, rather than calendar, years. See when each Federal Fiscal Year starts, and summaries for each budget from FY 2006 to the most current.

Auto Bailout
The specifics of the auto bailout received by GM, Ford and Chrysler. What the Big 3 promised to give back in return. How the government bailout of the auto industry affected the economy.

Business Cycle
Definition of a business cycle, including the stages of a business cycle and business cycle indicators. The meaning of the business cycle in economics. What GDP growth rate you should expect in each phase of the business cycle.

Advantages of NAFTA
The advantages of NAFTA for Mexico, Canada and the U.S. include an increase in trade which has contributed to economic growth.

Disadvantages of NAFTA
NAFTA cost many workers their jobs in the U.S., and led to exploitation of workers in Mexico. Find out the other disadvantages of NAFTA, and why NAFTA had so many ill effects.

Hurricane Katrina Damage
The effects of Hurricane Katrina's damage to the U.S. economy still linger. Why was Katrina the most destructive natural disaster in U.S. history? Many factors contributed, including Katrina's path through the Gulf oil fields and the heavily-populated City of New Orleans. The damage was worsened when the levees broke, causing massive flooding.The facts around Hurricane Katrina's damage.

Unemployment Solutions
A summary of the most popular unemployment solutions. There are many solutions proposed for unemployment, but which ones really work? Monetary policy feeds liquidity to employers, but what if they still don't hire? Fiscal policy through spending puts cash into the economy right away. Or fiscal policy cuts personal taxes, which might stimulate demand. If it cuts business taxes, then that works like monetary policy -- both add cash to businesses. What's the most cost effective solution?

How Is Unemployment Defined?
Definition of unemployment, including the difference between the real, natural and structural unemployment. How unemployment statistics are used, and causes and consequences of unemployment.

What are Treasury Bonds?
Treasury bills, bonds and notes have different maturities. Notes are issued at 2,3,5 and 10 years (the most popular). Treasury notes fund the U.S. debt, and their yields are the benchmark for bank interest rates.

Components of GDP
What are the four general components of GDP? Find out what makes up those components, and why personal consumption drives more than 70% of the economy.

GDP Growth Rate
Defines the difference between the measurement of GDP and the GDP growth rate.

Liquidity
What is liquidity? It has two different definitions. In the economy, liquidity means how much money there is to spend and invest. In business, liquidity is defined as how easily an asset can be converted to cash.

GDP Current Statistics
The economy grew 2.2% in the first quarter 2012, according to the BEA's Final estimate. Find out why, and compare it to each quarter's GDP statistics, with links to each GDP statistical report from Q4 2006 to the current quarter.

U.S. Recession History
The history of recessions in the United States since the Great Depression. How long ago was the last recession, and how long it lasted. The major causes of each recession.

What Is Inflation?
Inflation is defined as when prices rise over an extended period of time. However, this definition doesn't take into account the types of inflation, and what causes them. Understand all this, as well as how inflation impacts your life, so you can best protect yourself.

What Makes Oil Prices So High?
Oil prices breached $100 a barrel in February 2012. This was earlier than in 2011, when prices hit a recent peak of $113 in April. Will prices go as high as in 2008, when they hit an all-time record of $145 a barrel? Find out why high oil prices are not just based on supply and demand.

Banking
What is banking? The definition of banking, its critical role in the US economy, and how that has changed.

China Economy
China's growing economy makes China a major influence in the U.S. economy. China's low standard of living allows it to export cheaply, keeping U.S. inflation low. China is the largest buyer of U.S. Treasuries, which keeps U.S. interest rates low. Find out how the economies of China and the U.S. are interdependent.

Bank Bailout Bill
What exactly was in the 2008 bank bailout bill, both as it was initially submitted and how it was eventually carried out. How much of the $700 billion bill was actually spent, and how well did it address the financial crisis?

The U.S. Trade Deficit
The U.S. trade deficit in 2011 was just under $560 billion. It was driven by imports of oil, consumer products and automobiles. The top four trading partners are Canada, China, Mexico and Japan.

Gas and Oil Prices
The relationship between oil and gas prices, how crude oil prices affect gas prices, and how both affect the US economy.

Mitt Romney 2012 Economic Plan
Republican 2012 Presidential Candidate Mitt Romney's economic plan is focused on undoing what Obama has done. Like many other Republican Candidates, Romney believes the economy will right itself with lower taxes and reduced government spending. Unlike the other candidates, Romney describes exactly what he would do on Day One, if elected President. What would be the economic impact of Romney's Presidency, and what is Romney missing?

Impact of Inflation
The consequences of inflation and the effects of inflation on buying power.

U.S. Trade Deficit with China
The US trade deficit with China is the largest in the world, and a symptom of global economic imbalance. Find out why there a deficit, and what is being done to correct it.

U.S. Debt and Deficit
The US Deficit contributes to the US Debt, and vice versa. As both escalate, they negatively impact economic growth.

Treasury Yields
What exactly are U.S. Treasury yields and how yields are determined. Understand the relationship between Treasury bond prices and Treasury yields. Find out how Treasury yields affect mortgage interest rates, and the U.S. housing market.

Unemployment Rate
Explains what the national unemployment rate is, why it is important, and how it affects the U.S. economy. Explains how the unemployment rate affects you.

New Home Builder
New home builders have been hit hard by the recession. Some even blame overbuilding by new home builders for causing the housing bubble that created the recession. Find out how new home builders affect the economy.

Japan Earthquake Impact
How the 2011 earthquake in Japan affects the global economy.

The Dust Bowl
What was the Dust Bowl of the Great Depression, why did the Dust Bowl happen, and could the Dust Bowl happen again?

Control Inflation
What is the Federal Reserve doing to control inflation? Find out the tools the Fed uses to manage inflation and even the expectation of inflation.

Federal Reserve System
The Federal Reserve System was created in 1913 to be the nation's central bank. Its primary function is to manage inflation. It does with monetary policy, which includes setting interest rates through the Fed funds rate, the discount rate and the discount window. The Federal Reserve Banking System also manages banking liquidity and the money supply through the reserve requirement and many bank regulations. The Federal Reserve is directed by its Board of Governors, which sit on the FOMC. Find out how the Federal Reserve System functions and how it affects you.

Trade Protectionism
Trade protectionism is how countries try to protect their domestic industries. What is trade protectionism, how does it work, and what are the advantages and disadvantages?

How Are Oil Prices Determined?
An easy-to-use description of the factors that impact oil prices in the commodities market.

LIBOR Rates
The LIBOR rate is what banks charge each other for short-term loans. It's usually close to the Fed funds rate, which is for overnight loans for members of the Federal Reserve banking system. If LIBOR diverges, as it did in 2008, it's a sign that a financial crisis is imminent.

U.S. Federal Budget Deficit
The U.S. Federal budget deficit hit a record of $1.4 trillion in FY 2009. Stimulus spending wasn't the only reason. There were three other factors, and only two of them had anything to do with the financial crisis. Find out what really caused government budget deficits, how they affect the U.S. economy and why you should be concerned.

Financial Markets Introduction
An introduction to the financial markets, including a definition of financial markets, a description the components of the financial markets and how the markets impact the U.S. economy.

Monopoly
Definition of monopoly and how monopolies used to threaten the U.S. economy by restricting free trade.

Dollar Decline or Collapse
Reasons for the decline in the value of the US dollar, why it won't collapse, and what you can do about it.

Crude Oil Prices Definition
How crude oil prices are measured, recent oil prices and current oil price trends. Where will oil and gas prices go in the next year?

U.S. Unemployment Rate Statistics
The unemployment rate for April 2012 dropped to 8.1%. Here's all the current unemployment rate statistics for every month from April 2007 to the most recent report.

Economic Depression
Definition of economic depression.Why a depression won't happen again. How a depression was averted in 2008. The cause of the Great Depression of 1929.

Dow Jones History
A brief history of the Dow Jones Averages since the Great Depression.

FY 2013 Military Budget
An summary of the US Military Budget for FY 2013, and how defense spending affects the U.S. economy. How the Department of Defense can cut spending without threatening national security.

Federal Funds Rate
The definition of the Federal funds rate is the target interest rate banks charge each other to borrow funds overnight to maintain the Federal Reserve's reserve requirement. More important, the Fed funds rate is critical because it dictates the availability of capital in the economy. That's how the Federal Reserve uses the Fed funds rate is to manage the U.S. economy, especially inflation.

What Is a Recession?
What is an economic recession? Most textbooks say that a recession is when you get two consecutive quarters of economic contraction. However, most recessions don't go by the book. Find out what a recession really is, and, most important, how it affects you.

A Primer on Interest Rates
Basic primer on interest rates, including Fed funds rate, Treasury Bonds, mortgage interest rates and the rates on revolving and non-revolving interest rates. Explains how different interest rates are determined. Discusses future interest rate trends, and the impact of an inverted yield curve.

What Are Exchange Rates?
Exchange rates determine how much the dollar, or any other foreign currency, is worth compared to another country's currency. Exchange rates can be fixed or flexible. Find out how exchange rates change over time, and how they affect the U.S. economy and your life.

Black Tuesday
Black Tuesday was a stock market crash that kicked off the Great Depression of 1929. What is Black Tuesday and what caused it.

Causes of Inflation
There are three major causes of economic inflation: demand-pull, cost-push and monetary expansion. However, there are many circumstances that lead to those causes -- including the expectation of inflation itself. Regardless of the causes, the effects of inflation are devastating and difficult to counteract.

CDOs
CDOs, or Collateralized Debt Obligations, are a derivative that contributed to the banking liquidity crisis and subsequent recession. Banks repackaged loans, including subprime mortgages, credit card debt and corporate debt, and sold them to investors who didn't really know the value of what they were buying. Neither did the banks.

Real GDP
What is real GDP? Find out the difference between real and nominal GDP. Learn how to calculate real GDP.

What Are Hedge Funds?
Hedge funds are usually defined as private investment funds. They promise great rewards, but also present great risks to both investors and the economy. Investments by unregulated hedge fund managers contributed to the global crisis in 2008. Find out what hedge funds really are, how they work, and whether their high returns are worth their high risks.

Stock Market Crash of 1929
The Stock Market Crash of 1929 kicked off the Great Depression. Find out the facts behind this devastating crash, what caused it and what the effects were.

Contractionary Monetary Policy
Contractionary monetary policy definition and how the Federal Reserve uses it to avoid inflation. Examples of contractionary monetary policy, including how it caused the Depression and deflation.

Subprime Mortgage Crisis
The subprime mortgage crisis put the U.S. economy into the worst recession since the Great Depression. Find out how the subprime mortgage crisis unfolded, affecting first the real estate market and then the economy overall. It gives you definitions of important terms. It also explains how interest rates and real estate play an integral role in the U.S. economy. Finally, it provides resources for those who are suffering from the subprime mortgage crisis directly.

Value of a Dollar Today
The value of a dollar today is less than it was in the past, thanks to inflation. Calculate the value of a dollar compared to different times in the past.

Natural Unemployment Rate
The natural unemployment rate is the amount of unemployment that even a healthy economy will have simply due to job turnover, mismatch between jobs and skills, and minimum wage laws.

Savings and Loans Crisis
The Savings and Loans Crisis in the late 1980's resulted in the bankruptcy of half of the Savings and Loan banks in the U.S.

History of the Gold Standard
A brief history of the gold standard, including when the U.S. went off the gold standard, and why.

FY 2013 Mandatory Budget
An easy-to-understand analysis of the FY 2013 Federal Budget for mandatory spending programs. The outlook for Social Security and health care, such as the Medicare and Medicaid programs. What can be done to solve the mandatory budget dilemma. Whether Social Security will go bankrupt.

What Is Deflation?
What exactly is deflation? A simple definition is that it's when prices fall. But deflation is actually a greater threat to the economy than inflation.

Securities
Securities is a term used to loosely describe stocks, bonds and other investments. Securities allow ownership of corporations and other investments without taking physical possession. They are usually highly liquid, allowing you to sell them easily on the secondary market.

Dodd-Frank Reform Act
The Dodd-Frank Wall Street Reform Act regulates the financial practices of Wall Street to prevent another financial crisis. Here's a summary of the Act, along with an overview of the new consumer protection regulations it provides. You are probably benefiting from many of them, and don't even know it.

Supply-side Economics
Supply-side economics is an important economic theory that states that tax cuts stimulate the economy enough to recoup any lost revenue. This profile analyzes the studies that show whether this is true or not.

Health Care Reform
Health care reform will cost billions, but will also save the economy billions in sick time, emergency room costs and improved child care. Find out the economic impact of health care reform.

FY 2013 Discretionary Budget
An easy-to-understand summary of the U.S. Federal Budget's discretionary spending programs, including Defense, Education, Housing and Urban Development, State Department, Health and Human Services and NASA. How it affects the U.S. Economy.

Interest Rate
A definition of interest rates, including the APR. How interest rates work to stimulate or slow economic growth.

Facts About NAFTA
Facts about the NAFTA agreement, including history of NAFTA, the benefits and problems with NAFTA for it members Mexico, Canada and the U.S.

Obama's Economic Policies
A summary of Barack Obama's economic policies, plans and programs since becoming President in 2009.

Global Warming Consequences
Effects of global warming on the economy and the facts about its consequences.

What Is the Gold Standard?
What the gold standard is, and why a return to the gold standard would adversely affect the U.S. economy

CPI
The Consumer Price Index (CPI Index) measures U.S. price changes each month. Find out how it's used to measure inflation and deflation, the importance of the Core CPI, and exactly how it's calculated.

Expansionary Monetary Policy
A definition of expansionary monetary policy.

Greece Debt Crisis
The debt crisis in Greece threatened the entire concept of the eurozone, and put the brakes on the global economic recovery. What were the reasons behind the economic and financial crisis of Greece? Find out what happens if Greece defaults, if Greece leaves the eurozone, and what the likely solution will be.

World Bank
The World Bank's purpose is to provide financial and technical support to developing countries.Its history dates back to 1944, when it was started to finance the reconstruction of Europe after World War II. Since then, it also provides extensive statistics about the world's economy.

US Federal Budget Spending
A summary of the US Federal Budget, with a focus on FY 2013. Understand how mandatory programs now account for 60% of total spending. Did you know the single largest budget item is defense spending? Find out where your tax dollars go.

Japan Economy
Before the 2011 earthquake, Japan's economy was emerging from deflation and recession. Find out how what caused Japan's recession, and how Japan's economy affects the U.S. economy.

Mortgage-backed Securities
What are mortgage-backed securities? Just like the name says, they are securities that are backed by mortgages. This innovative investment revolutionized the housing industry by providing banks more money to make loans. All went well, until housing prices went south.

IMF
The IMF, or International Monetary Fund, to the U.S. economy is based in part on the IMF's history.

9/11 Attacks Economic Impact
The 9/11 attacks had long-ranging economic impacts. Not only did they deepen the 2001 recession, they led to the War on Terror. These costs helped create the largest debt in U.S. history.

Gold Prices
Gold prices say a lot about the health of the U.S. economy. When gold prices are high, the economy is usually either in crisis or inflation. When gold prices are low, the economy and the stock market are healthy. Learn about how gold should used by investors, the history of gold, and more about the gold standard.

What Is the US Debt to China?
The U.S. debt to China was more than $1 trillion in 2011. This was 25% of the U.S. debt owned by the public. Find out how the U.S. got in this predicament and how it threatens its economic growth and independence.

What Is NASDAQ?
Definition of NASDAQ. Explains what the acronym NASDAQ stands for, and how many companies are traded on NASDAQ.

Subprime Mortgage Crisis Cause
The subprime mortgage crisis has put the U.S. economy into the worst recession since 1982. This primer explains the innovative financial tools that allowed lenders to lend to subprime borrowers without taking responsibility for the risk of future default. As adjustable mortgage interest rates reset, and borrowers defaulted, these tools spread that risk into every corner of the globe. This has created a widespread crisis that shows no signs of ending.

LIBOR Rate History
Throughout its history, the LIBOR interest rate has been close to the Fed funds rate, except during the 2008 financial crisis. Compare the LIBOR rate to the Fed funds rate during that time. Understand when, how and why LIBOR was created.

What Are Stocks?
A definition of stocks.

The Second Great Depression?
Is the U.S. headed towards the Second Great Depression? The financial crisis left the economy in a weakened state. Recent news developments lead many to believe another depression is inevitable if it hasn't started already. Here's the arguments pro and con,and what the probable outcome will be.

Recession
Definition of recession, including the technical definition of recession and the general definition of recession.

Obama and Bush Economy
Find out the similarities and differences between the economic policies of President Obama and President Bush.

Purchasing Power Parity
Understand purchasing power parity and you can compare the standard of living in one country with another.

EU Now World's Largest Economy
The EU has replaced the US as the worlds largest economy

Hooverville
The Farm Security Administration hired photographers to document the living conditions of the Great Depression. They are a landmark in the history of documentary photography. The photos show the adverse effects of the Great Depression and the Dust Bowl. Some of the most famous images portray people who were displaced from farms and migrated West or to industrial cities in search of work.

Haiti Earthquake Impact
Credit card companies profit from donations to charities such as Haiti's earthquake relief efforts.

Mexico's Economy
Mexico's economy is larger than that of Canada, Spain or South Korea. It's the same size as Saudi Arabia, but exports just 25% of the oil. Mexico's economy is dependent on the U.S., which is both a help and a hindrance.

Obama and Health Care Reform
A summary of Obama's plans to reform health care and how it affects the economy.

Global Financial Crisis of 2008
What was the global financial crisis of 2008? What were the causes and effects? How did it impact the world and U.S. economy?

Patient Affordable Care Act
A summary of the Patient Protection and Affordable Care Act of 2010. Timeline of how the impact of the Act will roll out.

Ideal GDP Growth Rate
The ideal GDP growth rate is one that enable the economy to grow at a healthy rate. If growth is too fast, the economy risks inflation. If growth is too slow, the economy risks recession or even depression.

WTO Membership Benefits
Membership in the WTO (World Trade Organization) confers many trade benefits to its members. That's why 153 countries are members. Find out who they are, and why WTO membership is important to them and to the global economy.

OPEC
What is OPEC, who are OPEC members, and how does OPEC affect oil prices?

Cultural Diversity
What is the definition of cultural diversity, especially cultural diversity in the workplace.

Real Estate Affect on Economy
An easy-to-understand description of real estate, both commercial and residential, and how it affects the U.S. economy.

Current Employment Statistics
Current employment statistics: In April 2012, 115,000 jobs were added to the economy. Behind the scenes, there were major sector winners. Find out the monthly Bureau of Labor employment statistics since January 2008.

Stagflation
Stagflation is when economic growth stagnates while inflation is rising. This can only happen under unusual circumstances, and probably won't happen again. Find out why.

Trickle-Down Economics
The theory of trickle-down economics promises that reducing taxes on the highest income population fuels economic growth. It seemed to work during the Reagan Administration, but did it really? More importantly, does it work today?

Credit Default Swaps
Credit default swaps were supposed to protect lenders against debt default. Instead, they provided a false sense of security that helped create the Greek debt crisis, the 2008 financial crisis, and even JPMorgan's recent loss.

Monetary Policy
A definition of monetary policy and how monetary policy affects the U.S. Economy.

Imports and Exports Components
Two of the largest components of U.S. imports are oil and consumer goods. Even though the U.S. exports many of the same things it imports, it has a trade deficit. However, it has a trade surplus in services. Find out the details on U.S. import and export components.

Panama Canal Expansion
Evaluates the impact of the Panama Canal expansion on the U.S. economy.

Other Fed Tools
The Federal Reserve uses many tools in addition to the fed funds rate. These tools prevent inflation and shorten recessions. These Federal Reserve tools include reserve requirements, discount window, and the money supply (M1 and M2). In addition, the Fed created many new tools to deal with the Great Recession.

Federal Reserve Interest Rates
The current Federal Reserve interest rate is between zero and .25%. It was lowered by 1/2 point on December

Exxon Valdez Oil Spill Effect
Estimates of the economic impact of the Exxon Valdez oil spill.

Peg
Many countries peg their currency to the dollar. This means they use a fixed exchange rate to keep the value of their currency at a certain level relative to the dollar. Find out how they do they, and why.

What Are Commodities Futures?
An easy-to-use definition of commodities futures, how they work, and the investment risks.

What Are Commodities?
A definition of commodities, the commodities markets and how commodities futures work.

Derivatives
A definition of how financial derivatives, such as options and futures contracts, are used in to trade in the stock market.

Reagan's Economic Policies
A summary of President Ronald Reagan's economic policies, Reaganomics, supply-side economics and the recession of 1981.

Eurozone Crisis
The eurozone crisis

Most Favored Nation Status
Most Favored Nation Status definition, and what is the Most Favored Nation Status. Why the Most Favored Nation Status is important

Fiscal Policy
A definition of fiscal policy with links to descriptions of the components of fiscal policy, including revenue, taxes, mandatory spending, discretionary spending, and the budget deficit.

Income Inequality in the U.S.
Incomes have become more unequal in the past 30 years. What is the cause, what can be done about it, and how does it affect you?

Mississippi River Floods
Record flooding from the Mississippi River caused hundreds of millions in damage in May 2011. How much damage do Mississippi River floods cause, and how do Mississippi River floods affect the economy? What can be done to prevent further worsening do Mississippi River floods?

GCC
The Gulf Cooperation Council and its members represent the growing power of the Gulf oil-exporting countries. A list of GCC countries include every country in the Arab Peninsula except Yemen.

Current Inflation Rate
The current inflation rate (February 2012, the most recent month) is .4%, driven by rising gas and oil prices. When compared to last year, the inflation rate is 2.9%. Why is this good for economic growth, and how does it compare to prior months?

Inelastic Demand
Inelastic demand is when people's buying habits don't change, even when the price does.

multilateral
The definition of multilateral trade agreements.

US Federal Budget Breakdown
A breakdown of the U.S. Federal Budget, including: assumptions about the U.S. economy,revenue projections, discretionary and mandatory spending proposals, and the impact of deficit spending.

Fannie Cause Mortgage Crisis
Did Fannie Mae and Freddie Mac alone cause the mortgage crisis?

Trade Deficit
The trade deficit is when a country imports more than it exports. Find out what causes a trade deficit and what are the effects. Understand the difference between a trade deficit and a trade surplus.

Year-Over-Year Growth Rate
Definition of the year-over-year growth rate, how to calculate it, and why using it gives a better sense of a trend than comparing month to month or week to week.

GDP Per Capita
What is GDP per capita? Why understanding the definition of GDP per capita is important. GDP per capita by country for 2010 for the ten richest and ten poorest countries.

Unemployment Controls
How the government controls unemployment.

FY 2012 Federal Budget
An easy-to-understand summary of the U.S. Government's Federal budget for FY 2012. Includes income and taxes, as well as spending highlights. This includes discretionary, including military spending, and mandatory, including Social Security, Medicare and Economic Stimulus spending. Discusses the budget deficit and impact on economic growth.

Iceland Financial Crisis
The financial crisis in Iceland in 2008 led to its bankruptcy. Find out why the same could not happen in the U.S.

Stocks and U.S. Economy
A brief description of how stocks and stock investing affects the U.S. economy.

Regulate Exchange Rates
An explanation of how the government regulates exchange rates.

Subprime Mortgages
A definition of subprime mortgages, which are granted to borrowers with less than perfect credit.

Yuan
The currency of China is the renminbi or yuan. exchange rate to the U.S. dollar is guided by the Chinese government to allow cheap exports to the U.S. However, China has been allowing the yuan/U.S. dollar exchange rate to rise to combat inflation. Find out how this affects China's holdings of U.S. Treasury debt.

Mandatory Spending
What is mandatory spending within the U.S. budget? It's the largest budget item, and includes Social Security, Medicare, Medicaid and now TARP. It's mandated by Federal law, and cannot be changed without an act of Congress.

ARRA Details
Details of the American Recovery and Reinvestment Act, better known as ARRA.

2012 Obama SOTU Address
A summary of the 2012 Obama State of the Union Address and how its proposals would impact the economy.

US Department of Treasury
The US Treasury Department manages Federal Government revenue, collects taxes via the I.R.S., and oversees the public debt. It also prints money and stamps, enforces Federal finance laws and freezes the finances of terrorists. Find out what else this critical government agency does, and how it affects you and the U.S. economy.

Consumer Debt Statistics
What are the statistics on average consumer debt? Studying these statistics show how consumer debt was one of the key forces of economic growth from 2000-2008, and created the housing bubble. Then, during the Great Recession, banks cut back on consumer debt lending just when the economy needed it the most.

Jobs Outsourcing
Jobs outsourcing has sent American jobs to foreign workers. Find out the types of jobs outsourcing, and how outsourcing jobs has affected the U.S. economy.

Chernobyl Disaster
The economic consequences of the 1986 Chernobyl nuclear power plant accident affected not only Russia, Ukraine and Belarus, but also the global economy. What we can learn from Chernobyl for the U.S. economy.

Reaganomics
Reaganomics promised to slash government spending and taxes to stimulate the economy out of stagflation and the 1980 recession. It worked, but at a cost. Reagan was fortunate that he had Fed Chairman Paul Volcker ready to combat double-digit inflation. More important, Reaganomics would not work today, because conditions have changed significantly.

Power of the U.S. Dollar
The power of the US dollar means that it is in little danger of a collapse. This strength comes from its position as an international currency and its backing by the power of the US economy.

Stock Market Correction
The difference between a stock market correction and a stock market crash.

Banking Crisis Intervention
Banking Crisis - Federal Intervention in the Banking Crisis

Euro
What is the euro? A summary of the euro's history, what countries are in the eurozone, the euro crisis, and how to convert the euro to other currencies like the dollar and pound. This will give you the impact of the euro on the U.S. economy.

Quantitative Easing
A definition of quantitative easing, including QE2 and Operation Twist. Why the Federal Reserve adopted this policy and whether it works. The effects of quantitative easing.

NASA Budget
How much does NASA cost? What's the impact of the NASA budget on the U.S. economy.

European Union
The European Union (EU) is the largest economy in the world. It got that way by lowering trade barriers, which was its basic purpose. It was formed in 1993 by the Masstricht Treaty and currently consists of 27 member countries. In 2002, the eurozone was formed around a common currency. The nature of the EU is changing daily thanks to the eurozone crisis.

Bonds and the Stock Market
An easy-to-use description of how bonds and stocks are different, and how the two market interact.

How Is Employment Defined?
Definition of employment by the Bureau of Labor Statistics. How to use employment data to gauge the health of the U.S. economy

Mortgage Bailout Prevention
The current mortgage crisis and bailout could have been prevented a year ago if the government had responded quickly enough to the signs.

Food Price Inflation
Food prices are forecast to rise 2.5-3.5% in 2012. Find out the real reasons why, how rising food prices affect the global economy, and why food price inflation will be a concern for years to come.

Bonds Impact on Mortgages
Treasury bonds directly affect fixed-rate mortgage interest rates because they are bought on the secondary market by similar types of investors. Treasury bonds are much safer, so their rates are lower. As Treasury rates rise, so do mortgage interest rates. Find out exactly how this works, and how it affects the economy.

Current Account Deficit
A current account deficit occurs when a country has to rely on foreign investors to fund its economic growth. Find out the causes and consequences of a current account deficit.

Secondary Mortgage Market
How mortgages are sold by the banks to investors.

Deregulation
Deregulation is when the government seeks to allow competition in highly regulated industries, usually some form of utility.

Euro to Dollar Conversion
What is the euro to U.S. dollar conversion? What the recent history of the euro to dollar conversion rate. How is the euro to U.S. dollar conversion rate determined?

Exports
Definition of exports and how exports impact the U.S. economy.

Bonds
Provides an easy-to-use definition of bonds and how they are used.

Bilateral Trade Agreement
Definition of bilateral trade agreements.

TARP Program
What is TARP funds, and what is TARP funds to be used for? An explanation of the TARP capital purchase program.

G-20
A profile of the G-20 and why it is so important to the U.S. economy.

Inverted Yield Curve
Inverted yield curve definition, why it happened in 2006, and why inverted yield curves forecast a recession. Find out why economists ignored the warning before the financial crisis of 2008 -- and why they shouldn't have.

Who Owns the U.S. Debt?
Who owns most of the U.S. national debt? Most of the news focuses on China's #1 position as the largest foreign holder of U.S. debt. The true answer is surprising...it's the U.S. government itself. How does that works, and what does it mean?

Germany's Economy
Facts about Germany's economy and GDP, the largest in Europe. Find out its impact on the EU and the U.S.

U.S. Current Account Deficit
The U.S. current account deficit was $473.4 billion in 2011, climbing slightly after falling during the financial crisis. As the deficit rises again, find out why some think it may be the greatest single threat to the global economy.

Natural Disasters
Natural disasters are a greater economic threat than terrorism according to Warren Buffett. The cost of hurricanes, floods, tornadoes and earthquakes seem to be increasing. What impact do these natural disasters have on the economy?

Asset Bubble
An asset bubble is when there is an inflation in specific assets, such as real estate or commodities. They may not show up in the overall inflation measurements, so are often ignored by the Federal Reserve and other inflation fighters. Find out how to recognize asset bubbles, and how to protect yourself.

Demand-Pull Inflation
Demand-pull inflation is the most common cause of inflation. It's when the demand for a good or service becomes much greater than supply, allowing producers to raise prices. Find out the circumstances that create demand-pull inflation as illustrated by examples.

Types of Inflation
There are many different types of inflation, from hyperinflation to stagflation and even deflation. Furthermore, inflation can attack different asset classes. This asset inflation can show up in food, gas and oil prices. Find out how the different types of inflation can devastate the economy, even when general inflation is not a threat.

Treasury Notes Mortgage Rates
Explains the Relationship Between Treasury Notes and Mortgage Rates.

Budget Deficit
The U.S. budget deficit occurs whenever the government spends more than it makes, which is nearly every year. Find out why this occurs, how it leads to debt, how the deficit is financed

Competitive Advantage
A competitive advantage is what distinguishes you from all others. Whether you are an employee, a business or a country, you need to have a clear competitive advantage and communicate it to your customers.

Stock Investing Benefits
Definition of stock investing and the benefits for the individual investor.

Discretionary Fiscal Policy
What is discretionary fiscal policy? It's probably the most hotly contested portion of the budget, yet it's not well understood. Find out how discretionary fiscal policy can prevent depressions, but usually heats up bubbles till they burst.

U.S.A. National Debt Clock
The USA national debt clock tracks the U.S. debt. Find out the history of the debt clock, where it is and what other ways you can measure the ever-increasing U.S. debt.

What Was the LTCM Crisis?
The Long Term Capital Management hedge fund was a highly respected investment company that used derivatives to earn high returns, until it collapsed. The LTCM crisis could have spread globally without the intervention by the Federal Reserve -- although some critics say it wasn't necessary.

Irrational Exuberance
Irrational exuberance is why investors create a stock market bubble.

MSCI Index
Each MSCI Index measures a different aspect of global stock market performance. The two most widely quoted indices are the MSCI World Index and the MSCI EAFE Index.

Money Supply
The money supply includes cash and all forms of credit, which is becoming by far much more important than cash. The Federal Reserve measures the money supply, and used to manage it. However, since 2000, the Fed stopped setting money supply targets because it is no longer really correlated to economic growth. Find out why.

Reserve Requirement
The Federal Reserve requires that banks in reserve a certain amount of cash on hand each night.

Savings and Loans
Savings and loans (S&L's) are special types of banks created to promote home ownership.

FY 2011 Federal Budget
An easy-to-understand summary of the U.S. Government's Federal budget for FY 2011. Includes income and taxes, as well as spending highlights. This includes discretionary, including military spending, and mandatory, including Social Security, Medicare and Economic Stimulus spending. Discusses the budget deficit and impact on economic growth.

 

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Anti Obama Bumper Sticker 2012, Sorry I'm Late, had to Drop Obama at Oval Office
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It's Still the Economy, Stupid : George W. Bush, The GOP's CEO by Pau 0743246470
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Women in Nineteenth-Century Egypt by Judith E. Tucker (2002, Paperback)
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How Russia Votes Comparative Politics & the International Political 1566430372
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Not for Sale at Any Price: How We Can Save America for Our Children b 1562827235
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Bush at War by Bob Woodward 0743244613
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No Apology: The Case for American Greatness by Mitt Romney (2010, Hardcover)
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Cosmopolis by Don DeLillo (2003, Unabridged, 5 CDs, Audiobook)
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Vilfrido Pareto, Manual of Political Economy, Economics
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America for Sale by Jerome R. Corsi Ph.D. - NEW Audiobook on 6 CDs
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nickel and dimed
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ADAM SMITH THE WEALTH OF NATIONS MP3 CD ~ PLAYS IN ANY MP3 PLAYER ~FREE SHIPPING
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Have You Seen My Country Lately? by Jerry Doyle - NEW Unabridged Audiobook on CD
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ADAM SMITH THE THEORY OF MORAL SENTIMENTS MP3 CD + MORE
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CHARLES & MARY BEARD FULL 6 AUDIO BOOKS U.S HISTORY ~ FREE SHIPPING
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Let's Stop Beating Around the Bush/Thieves in High Places by Jim Hightower - CDs
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