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ARTICLES
Oct. 24, 2005
Pity, Rather Than Envy, Felt for Rich, The Patriot-News
The baker bakes bread, said Adam Smith in 1776, not to feed the people of the village, but to improve his lot in life.
The idea that people act to promote their self-interest is not surprising, but what is remarkable is Smith's contention that the actions of these individuals, driven by the desire to make themselves better off, result in the greatest improvement in society's welfare. ...
July 24, 2005
For Economists, Happiness is Still a Difficult Territory, The
Patriot-News
Happiness. It’s not a subject that economists pay much attention to. Not
professionally, that is—although, in their personal lives, economists are
quite likely to engage in the “pursuit of happiness” with as much vigor as
other mortals. But, as a matter of scholarly study, happiness has proved
to be of less interest than fluctuations in gross domestic product and
changes in the consumer price index. ...
Sept. 15, 2004
Free markets or no, U.S. trade
woes continue, The Patriot-News
In the 1990s, the United States signed off on two major trade agreements
-- NAFTA and WTO. Overcoming significant opposition, most of it directed
by fellow Democrats, President Clinton shepherded the agreements through
Congress and served notice to the world that the U.S. was committed to
the goal of advancing free trade. ...
April 4, 2004
Bitter Rivals Show Signs
of Diplomacy, The Patriot-News
"For a country long associated in the West with tigers and elephants,
colorful spices and curry powder, and sages of dubious merit, India has
of late come under the international spotlight for decidedly different
reasons. ..."
November 2003
China and the Level Playing
Field, The Patriot-News
"In an op-ed piece in the Nov. 5th Wall Street Journal dealing
with U.S.-China trade, Commerce Secretary Don Evans asserted that China
was not playing by the rules. If China wished to retain access to the
U.S. market, he warned, trade between the two countries would have to
occur on a level playing field. In fact, Evans used the phrase “level
playing field” seven times, and apparently fearing that this wasn’t
enough, in his eighth usage, referred to the need for a genuinely level
playing field. ..."
Aug. 8, 2003
Democrats Pin Their
Hopes on Weak Economy, The Patriot-News
"In their bid to reclaim the Presidency next year, the Democrats
appear to be outgunned. President Bush’s approval ratings, although
down a bit recently, remain fairly robust. The controversies surrounding
the Iraq war seem to have faded from the public mind. The discredited
16-word sentence in the State of the Union address claiming to show Iraq’s
intent to procure nuclear weapons, the continuing failure to unearth weapons
of mass destruction, the inadequate efforts at reconstruction of a battered
economy, the inability to develop the vestiges of a civil society in Iraq,
the sharp disapproval of U.S. policy from the international community
– these no longer figure prominently in public discourse...."
May 11, 2003
Cutting taxes not best
remedy for the economy, Green Bay Press-Gazette
[A version also appeared in The Patriot-News: Comments often confuse
supply, demand. May 14, 2003.]
"The radio talk-show host was explaining Bush's supply-side tax cuts
to his unseen audience.
'When the government cuts taxes, you see, consumers are left with more
disposable income. They will then go and buy more stuff. This increased
spending will encourage businesses to hire more workers and produce more
goods. The economy will thus grow faster.'..."
Mar. 10, 2003
Bush’s economic team faces challenges, Green Bay Press-Gazette
"During a CNBC talkfest, Treasury Secretary John Snow’s attention
was drawn to recent polls showing a glaring lack of confidence in President
Bush’s economic team. Don’t the unfavorable numbers, asked
the talk show host, make his (Snow’s) job of selling the Bush tax-cut
package all the more difficult?..."
Feb. 09, 2003
Deficits balloon quickly under Bush, Green Bay Press-Gazette
[A version also appeared in The Patriot-News, Feb. 20, 2003.]
"President Bush has presented a federal budget of $2.23 trillion
for fiscal year 2004 beginning Oct. 1. It calls for increased spending
on defense, Medicare and education. It also seeks deep tax cuts, and as
a result, the federal government is expected to post a deficit of $307
billion in 2004...."
Dec. 06, 2002
Productivity increase good news for workers, Green Bay Press-Gazette
"'The productivity numbers are in! BLS has come out with the numbers!'
Anand was prone to excitement in such matters, but his exuberance in this
case, Sylvia felt, was fully justified.
Labor productivity, defined by the Bureau of Labor Statistics as output
per hour of all workers, is the key to the citizenry’s living standards.
Growth in labor productivity enables firms to raise wages without commensurately
increasing the prices of their goods, thereby increasing the real purchasing
power of workers. ..."
Sep. 03, 2002
Life in Hershey isn’t sweet right now, Green Bay Press-Gazette
"Life in Hershey, also known as Chocolatetown USA, has not exactly
been sweetness and light in recent months.
In April, workers at Hershey Foods Corp. staged a strike over management
plans to cut health-care benefits. The strike, the first in 22 years,
turned unusually rancorous, with the CEO Rick Lenny being forced to hire
bodyguards while attending the annual shareholders meeting...."
Aug. 18, 2002
Faltering economy tests this Bush, too, Green Bay Press-Gazette
"Amid deepening gloom on the immediate prospects for the U.S. economy,
President Bush presided over an economic forum at Baylor University in
Texas...."
July 11, 2002
Scandals a painful reminder: CEOs are human, Green Bay Press-Gazette
"Another day, another accounting scandal.
Sylvia was reminded of Professor Homer’s microeconomics class dealing
with the principal-agent problem facing a corporation’s shareholders.
' The shareholders, or the owners, of a corporation are the principal,"
said Homer. "They hire the agent--the managers--to run the corporations.
But this leads to an immediate problem.'..."
More articles ...
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