Should We Buy American?

How to diminish unemployment? The NY Times tells us about a Montana general contractor who plans to use only American-made goods for building his homes. Explaining, he said,  “I think we co…

Home Work

More unemployed means more people at home. One study asked, what are the unemployed doing? During every day’s “foregone market work hours,” unemployed people are occupied with home p…

Made in the USA?

One friend recently said to me, “The problem is we don’t make anything anymore!” Disagreeing, a San Francisco Fed report says that 88.5% of consumer spending is for goods and service…

Understanding Unemployment

A Washington Post article provided some insight about unemployment by suggesting that we place all US jobs into 2 buckets: One bucket contains firms participating in a global market. Some export goods…

Trade Deals

What if Mr. Jones, an assembly line worker, lost his job because of low cost imports? And, what if Mrs. Smith, a travel agent, also is unemployed but the reason is online firms like Expedia?  Pri…

Unemployment Questions

Friday’s employment report had good news and bad news. There was considerably less unemployment and considerably less job creation. Moving from 9.4% to 9%, the unemployment rate decreased more t…

A New Way to See Friction

Thinking about friction, most people picture 2 surfaces rubbing together. As economists, we should instead think of the Nobel Prize. Friction is one reason that Dale Mortensen won the 2010 Nobel Prize…

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