Article Artículo
Latin America and the Caribbean
New Report: Sexual Exploitation and Abuse at the Hands of the UN in HaitiJake Johnston / March 22, 2017
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Latin America and the Caribbean
Elecciones en el Ecuador: Por qué la soberanía nacional importaMark Weisbrot / March 21, 2017
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The Fed's Interest Rate Hike Will Prevent People From Getting JobsDean Baker
Truthout, March 20, 2017
Dean Baker / March 20, 2017
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What We Learned From Just Two Pages Of Trump’s 2005 Tax ReturnEileen Appelbaum / March 20, 2017
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Why No One Is Taking Robert Samuelson's Medicaid Deal SeriouslyCEPR / March 20, 2017
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The United States Has Been for Selective Protectionism, Not Free TradeCEPR / March 20, 2017
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Latin America and the Caribbean
Elections in Ecuador: Why National Sovereignty MattersMark Weisbrot / March 19, 2017
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Washington Post Misinforms Readers, Texas Trump Supporter is Eligible for Health Care AssistanceCEPR / March 19, 2017
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The Public is Clueless About the Federal Budget and It's the New York Times' FaultPaul Krugman criticized the Trump administration for its budget, which would cut or eliminate many programs that benefit low- and moderate-income people. In his piece, Krugman points out that the public is incredibly ignorant on the budget, with most people having virtually no idea of where most spending goes.
In particular, he referenced an analysis that found people on average believed we spend more than 30 percent of the budget on foreign aid. The actual figure is less than one percent.
This is the sort of item that inevitably leads people to deplore the ignorance of the masses. While ignorance is deplorable, instead of blaming the masses, we might more appropriately look at the elites.
The overwhelming majority of people are never going to look at a budget document. Insofar as they get any information on the budget, it is from reporters who tell them how much we spend in various areas of the budget. (They may get this information indirectly from their friends who read the newspaper or listen to news.)
When they hear about spending, they will invariably hear things like we spend $40 billion a year on foreign aid or $17.3 billion on Temporary Assistance for Needy Families (TANF). Most people will think these figures are large sums, since they dwarf the sums that people see in their daily lives. In fact, the former is less than one percent of the $4.1 trillion that we will spend in 2017, while the latter is just over 0.4 percent of total spending.
The media could do a much better job of informing the public about spending (i.e. by doing their job) if they made a point of putting these figures in context. As it is, giving people these really huge numbers without context is essentially telling them nothing. As an alternative, they could make a point of always referring to these numbers as a share of the budget and/or expressing them on a per person basis (e.g. the spending on TANF comes to a bit more than $50 per person per year from every person in the country).
CEPR / March 17, 2017
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The NYT Meant to Say "In Cutting Social Security and Medicare"CEPR / March 17, 2017
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Government Granted Patent Monopolies Cause People to Skip Cancer TreatmentsCEPR / March 16, 2017
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Declines in Employment by Demographic GroupOverall, January’s unemployment numbers show that the current unemployment rate is only 0.1 percent higher than the June 2007 unemployment rate. This is good news for many American workers, as it suggests that the labor market has fully recovered from the last recession; however a recent CEPR post on prime-age employment goes into more detail of why that might not be entirely true. But when just analyzing the unemployment rate through varying demographics, CEPR found that some workers have fared better than others.
Teen unemployment (workers 16 to 19 years), although still significantly higher than that of adult workers, has actually dropped below 2007 levels. Black teens in particular now have 3.3 percent lower unemployment. White teen unemployment rates have also decreased 0.8 percent. Both remain high, and the unemployment rate for black teen workers is nearly double that of white teen workers. Black teen workers also experienced a greater increase in unemployment from 2009 to 2011 than white teens, with their highest unemployment rate 46.1 percent in 2010.
CEPR and / March 15, 2017
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Higher Inflation Driven by Rising Fuel PricesMarch 15, 2017 (Prices Byte)
CEPR and / March 15, 2017
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Stick Shift: Autonomous Vehicles, Driving Jobs, and the Future of WorkKevin Cashman, Cherrie Bucknor, and / March 14, 2017
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Trends in Employment and School Enrollment Among 16–24 Year-OldsOver the past three decades, there have been two major changes in how young people spend their time. First, rates of both high school and college enrollment have gone up, leading to an increase in the share of 16–24 year-olds enrolled in formal schooling:
CEPR and / March 14, 2017
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Update: Are Lower Private Equity Returns the New Normal?Eileen Appelbaum and Rosemary Batt / March 13, 2017
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Latin America and the Caribbean
Un año después del asesinato de Cáceres, la política estadounidense respecto a Honduras sigue sin cambiarAlexander Main
The Huffington Post México, 11 de marzo, 2017
Alexander Main / March 13, 2017
Article Artículo
The Wrongest ProfessionDean Baker
The Baffler, Spring 2017
Dean Baker / March 13, 2017
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The Real Rate of Recovery, March 2017Kevin Cashman / March 10, 2017