This tag is associated with 19 posts

Slow Growth in US – At the actual rate, it will take about 160 years to double GDP per person

Over the last decade, the growth rate of real G.D.P. per person has averaged just 0.44 percent per year, compared with the historical norm of 2.0 percent. At a rate of 2.0 percent, incomes double every 35 years. At a rate of 0.44 percent, it takes about 160 years to double. via One Economic Sickness, … Continue reading

Only the U.S. and Japan are growing at similar rates compared with their precrisis growth

Among industrialized economies, only the U.S. and Japan are growing at similar rates compared with their precrisis growth rate after adjusting for changes in the working-age population, but their economies have still grown more slowly than expected. Chosen excerpts by Job Market Monitor. Read the whole story at  Five Trends That Will Shape the Future of … Continue reading

Can growth alone tackle unemployment? No, fiscal policy must be as growth-friendly as possible

Can growth alone tackle unemployment? Evidence is summarized in Figure 2, which shows the growth-jobs nexus using two alternate measure of the state of labor markets, the unemployment rate and the growth rate of employment. The left panel of Figure 2 shows that, among advanced economies on average, unemployment falls by a third of a … Continue reading

Greece – The economy shrinks by 1.1 pct in Q1

The Greek economy shrank by 1.1 percent in the first quarter of the year on a 12-month basis, Greece’s statistics agency said on Thursday.  The data, unadjusted for seasonal factors showed that output by the bailed out economy “decreased by 1.1 percent in comparison with the first quarter of 2013,” the ELSTAT agency said. Based … Continue reading

US – What would explain the slowdown in growth ?

What would explain the slowdown in growth, if the culprit isn’t some version of unused capacity? It’s not as if the entire U.S. woke up one morning in 2008 and decided, “I’m going to be less productive today and every day going forward.”… Investments to expand capacity don’t happen when the capacity that already exists … Continue reading

US / Population Growth Does Not Equal Economic Growth writes Richard Florida

There is little, if any connection, between population growth and economic growth Continue reading

Slashing top tax rates has had none of the positive effects on economic growth

The rich just keep getting richer — not only by gobbling up more income, but also by paying less in taxes. That means less support for the poor, who are getting increasingly poorer relative to the top one percent. One chart in a new study of income inequality in developed nations, published by the National … Continue reading

The Obsession with Growth Rates

For progressives, the economy of the mid-20th century constitutes a kind of paradise lost. Between 1947 and 1973, mean family income doubled, rising as much among the poor as among the rich. By contrast, from 1973 to 2007, income growth was half as great. While growth was less equally distributed than in the earlier “Golden … Continue reading

Eurozone / Panic-driven austerity: the more intense the austerity, the larger is the subsequent increase in the debt-to-GDP ratios study finds

“How well did this panic-induced austerity work?” “Some will say that this is the price that has to be paid for restoring budgetary orthodoxy. But is this so?” Those are the questions asked by Paul De Grauwe andYuemei Ji in Panic-driven austerity in the Eurozone and its implications. (Quotes to follow) We provide some answers in Figures … Continue reading

Japan / Growth and Quality of Life

To answer that question, we need to do two things. First, we need a way of measuring the quality of life. Second, we need to distinguish between the effect on quality of life of a country’s level of income and the effect of growth per se. Putting these two things together allows us to formulate … Continue reading

Inequality, Source of Macroeconomic Instability – Keynes View

While Keynes rejected the view that over-saving could be a cause of slump, he recognized that it was more difficult to maintain continuous full employment in an economy in which wealth and income are highly unequal…. So what should governments do? Keynes suggested three expedients: they could either increase their own spending out of loans, … Continue reading

The effect of population growth on per capita GDP growth is negative in developing countries | Minh Quang Dao

Based on data from the World Bank and using a sample of forty-three developing economies, the author finds that the growth rate of per capita GDP is linearly dependent upon population growth, both the young and old dependency ratios, the mortality rate. Continue reading

India Gov’t unveils big bang reforms

After months of dithering on the economy, India’s beleaguered government roared back to life in dramatic fashion on Friday, announcing big bang reforms as part of package of measures aimed at reviving growth and staving off a ratings downgrade. A day after sharply increasing the price of heavily subsidized diesel, the government said it was … Continue reading

China – Growth rate slowed for a sixth successive quarter

China’s growth rate slowed for a sixth successive quarter to its slackest pace in more than three years, highlighting the need for more policy vigilance from Beijing even as signs emerge that action taken so far is beginning to stabilize the economy. Year-on-year growth of 7.6 percent in the second quarter was a whisker above … Continue reading

Migrant Workers | A8 Countries | Great Britain: Overall, have contributed to the growth of the UK economy

“In May 2004 the UK, Sweden and Ireland were the only EU countries to fully open their labour markets to migrant workers from A8 countries.[1]” write Nick Clark and Jane Hardy in Free Movement in the EU – The Case of Great Britain, a report publisher on Bibliothek der Friedrich-Ebert-Stiftung. “The same access to labour … Continue reading

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