What Counting Cranes Can Tell You

To our list of less traditional economic indicators like the men’s underwear index, we can add the cranes that help to build our skyscrapers and stadiums.

Weekly Roundup: From Marijuana to the Metric System

Our everyday economics include globalization, opportunity cost, inflation, employment, monetary policy, negative externalities, recession, business cycle.

A Short Version of the Housing Crisis Story

Problems in the housing market frequently signal a contraction in the business cycle as they did through the subprime mortgage crisis.

Where Have All the Milkmen Gone?

Structural change in the economy involves new technology replacing old and eliminating jobs like milkmen, icemen, gas lamplighters and typists.

The Reason That Recession Dates Matter

Asked to define a recession, you can give the mechanical answer. It is 2 or more adjacent quarters of a real GDP decline. So, if Q1 GDP grows by 3%, Q2 by 2% and then Q3 by 1%, is that…

More On Unemployment

These are great graphs! In just a minute or 2, through a series from The Washington Post, you can understand our employment problems. Our starting point is potential output during the past decade. We see how much we could have…

It’s Official

We now know when the recession officially ended. But I still wonder whether we are moving along a “V”, a “U”, a “W” or an “L”. According to the National Bureau of Economic Research (NBER), the recession began during December,…

Big and Little Worries

1.  Sovereign debt: Contemplating big worries, I could place sovereign debt at the top of the the list. Should we currently be concerned about Greece, Spain and other EU nations with excessive obligations?  Beyond, should we be focusing on the…