Making Labor Less Expensive Helps Firms Hire

In The Four Decades After World War Ii, Manufacturing Jobs Paid More Than Other Jobs For Given Skills. But That Is Much Less True Today. Increased International Competition Has Forced American Manufacturers To Reduce Costs. As A Result, The Pay Premium For Low-skilled Workers In Manufacturing Is Smaller Than It Once Was.

As A Former Member Of President Obama's Economic Team, I Have A Soft Spot For The Fiscal Stimulus Legislation He Signed Just A Month After His Inauguration.

Recent Research Suggests That New Deal Programs May Actually Have Had Their Primary Impact On The Economy By Influencing Consumer And Business Expectations Of Future Growth And Inflation.

A Successful Argument For A Government Manufacturing Policy Has To Go Beyond The Feeling That It's Better To Produce 'real Things' Than Services. American Consumers Value Health Care And Haircuts As Much As Washing Machines And Hair Dryers.

There's A Joke In Economics About The Drunk Who Loses His Keys In The Street But Only Looks For Them Under The Lightposts. When Asked Why, He Says, 'because That's Where The Light Is.' That's The Problem With The Deficit.