Economics

Cracking the Mystery of Labor's Falling Share of GDP

Economists are very worried about the decline in labor’s share of U.S. national income. One reason they’re concerned is because when less of an economy’s wealth flows to workers, it exacerbates inequality and increases the risk of social instability. But another reason is that this trend throws a …

Paul Krugman

Trump seeks 15 percent corporate tax rate, even if it swells the national debt

President Trump is pursuing a drastic cut in the corporate tax rate, a move that is likely to grow the national debt and breach a long-held Republican goal of curbing federal borrowing.<p>The president has instructed advisers to propose cutting the corporate tax rate from 35 percent to 15 percent, …

Government

Australia's Real Estate Bubble Is On The Verge Of Popping With A Surge Of Inventory

Increasing prices are being met with increasing inventory. A lot of this inventory is coming on line right now.<p>Real estate prices have not kept up …

Business

Donald Trump 'to order corporate tax rate to be cut to 15 per cent despite fears for US national debt'

Donald Trump has ordered aides to draft a tax reform plan that cuts the corporate tax rate to 15 per cent despite the fact that such a move would increase the national debt and expand the government's budget deficit, according to reports.<p>The US president, who is seeking a first major legislative …

Business (UK)

Bernie’s brilliance: Sen. Sanders sums up Republicans’ entire economic model in one word

The Vermont senator gets a warm reception in Miami on day three of his multi-state unity tour<p>Sen. Bernie Sanders’ multi-state unity tour with Democratic National Committee Chairman Tom Perez continued for a third day in Miami Wednesday, where he spoke to a crowd of approximately 2,000 at the James …

Bernie Sanders

Could the IMF's 'world currency' help encourage global unity?

Amid the rise of populism and nationalism, some are asking if revamping the SDR could re-energise multilateralism<p>The rise of anti-globalisation political movements and the threat of trade protectionism have led some people to wonder whether a stronger multilateral core for the world economy would …

Business (UK)

Why Slavery Wasn't Just A Monstrous Evil, It Was Also Bad Economics

It should be clear to all right-thinking people that slavery was and is a moral abomination. Most would leave the matter at that, hoping that never again will the practice become entrenched in any society.<p>Not so, Robert E. Wright, chair of political economy at Augustana University and treasurer of …

Business

Trump’s first 100 days have been rocky at home. Abroad, they’re cause for relief.

For President Trump, his fellow Republicans and his supporters, his failure to yet deliver on many campaign promises has become a source of consternation. But for many of the foreign leaders who descended on Washington this weekend for one of the first international meetings of Trump's presidency, …

Globalization

Turkey Prime Minister Yildirim on Investment

Turkey's Prime Minister says the country will boost economic growth by finding creative ways to reduce financing costs and boosting spending on large …

Turkey

Zombies of Voodoo Economics

According to many reports, Donald Trump is getting frantic as his administration nears the 100-day mark. It’s an arbitrary line in the sand, but one he himself touted in many pre-inauguration boasts. And it will be an occasion for numerous articles detailing how little of substance he has actually …

Taxes

The Fed has a problem after the biggest bond-buying binge in history

The Fed owns a lot of bonds, and policymakers think it’s time to reduce its $4.5 trillion balance sheet, a portfolio of assets that surged more than fivefold during the financial crisis and Great Recession.<p>There’s just one problem: Officials are rightly fearful that any big announcement about their …

Business

Small, mid-sized cars may cost more after GST rollout from 1 July

Small and mid-sized cars may see a small hike in prices after the Goods and Services Tax (GST) is rolled out from 1 July as different goods are …

Taxes

Disorder under heaven: America and China’s strategic relationship

Special report<p>Disorder under heavenAmerica and China’s strategic relationship<p>After seven decades of hegemony in Asia, America now has to accommodate …

China

The Infantization of the Campus Left

College protesters probably imagine that they’re engaging in war with certain speakers, and that silencing them will damage their careers or future …

Higher Education

Inclusive Growth Requires Maintenance of Full Employment

One reason for growing inequality is high rates of joblessness among those without much education. If you don’t have a job, your income plummets. And …

Business

How will the general election affect sterling?

Sterling is dominating the economic picture for this year - the weak pound means economists fear households will suffer from rising inflation, damaging their growth forecasts.<p>But the pound's value is currently driven by political concerns.<p>The Brexit vote last year, Theresa May's conference speech …

Brexit

Sell The Rip? SPY Rallies On French Election Ahead Of Crazy Data Week

Massive rally across European equities after French Election.<p>Interest rates are up as "risk on" is the trade (for now).<p>China suspiciously did not …

Stocks

The French Election: We May Have Avoided A Political And Economic Cataclysm

<b>PHEW! THAT WAS</b> a close call. Sunday’s first round in France’s presidential election–the runoff between the top two contenders is May 7–could have precipitated the most serious post-WWII crisis in Europe, with profoundly damaging consequences for both the Continent and the U.S.<p>One of the finalists …

Democracy

Inflation to hit the RBA's target

Consumer prices are expected to have inched up in the March quarter, mainly on the back of higher fuel and food costs, taking headline inflation into …

Inflation

Broken Politics and a Fragile World Economy

The global economy is gathering momentum, the International Monetary Fund has declared. That's probably correct and undeniably encouraging, but there's an ominous discord between this economic expansion and what's euphemistically called "political uncertainty" -- that is, the stresses caused by …

President Donald Trump

News Highlights: Top Global Markets News of the Day

European Markets Leap on French Election Result<p>European stocks and the euro jumped as results from the first round of French presidential elections eased investors' concerns about the future of the eurozone.<p>Global Economy Week Ahead: U.S. and U.K. GDP, Bank of Japan and ECB Meetings<p>Gross domestic …

The Taylor Rule Could Put Fed on Autopilot

First, AI came for our jobs, now it wants to set monetary policy. With Fed Chair Janet Yellen's first term as the leader of the Federal Reserve …

Central Banks

IMF says surrogate currency will not solve Zimbabwe's economic problems

HARARE (Reuters) - Zimbabwe's "bond note" surrogate currency will not solve its economic problems, the International Monetary Fund said, adding that only comprehensive reforms would address a fiscal crisis.<p>The southern African nation last year introduced bond notes, which officially trade at par …

Business (UK)

Figures on government spending and debt

WASHINGTON (AP) — Figures on government spending and debt in millions of dollars. The government's fiscal year runs Oct. 1 through Sept. 30.<p>Total public debt subject to limit April 21<p>$19,808,747<p>Statutory debt limit<p>$19,808,772<p>Total public debt outstanding April 21<p>$19,846,252<p>Operating balance April 21<p>…

Business

It is time for the ECB to work out an elegant exit from QE

Few interventions in history of central banking have been as dramatic as the European Central Bank’s expansion of its balance sheet to over €4tn to …

Banking

How Trump Can Destroy Democrats and Keep Congress

It’s the economy, stupid. Which means Trump and the GOP better find some unanimity and pass tax reform.<p>On the eve of the first 100 days of the new administration, the president has predicted a “massive tax cut,” that could be “bigger I believe than any tax cut ever.”<p>This is the Republican Party’s …

Taxes

There's nothing conservative about Puerto Rico's political status

The governor of Puerto Rico, Ricardo Rosselló, is set to keynote an address at The Heritage Foundation on Wednesday. In the past, policy analysts and …

Puerto Rico

"Master and Commander's" Prize Money

In Patrick O’Brian’s <i>Master and Commander</i>, Stephen Maturin, indifferent to wealth but desperately impoverished, accepts Commander “Lucky Jack” …

Foundation for Economic Education

How a Macron Presidency Could Bring About ECB Tapering

An ascension of Emmanuel Macron to France's presidency could trigger a much-anticipated event in European financial markets: Tapering of the European Central Bank's massive stimulus program.<p>ECB policy makers have been wary of signaling an end to their massive monetary stimulus amid the risk posed …

Commodities

Turkey Cabinet Overhaul Coming as Erdogan Eyes Party Return - Bloomberg

Turkey’s Prime Minister Binali Yildirim said he’ll discuss an overhaul of the cabinet with President Recep Tayyip Erdogan in coming months, signaling …

Turkey