Is GDP Over?

Is GDP Over?

Crossposted from Inequality.org.  Organizers of October’s fifth OECD World Forum on Statistics, Knowledge, and Policy could barely contain their sense of satisfaction when the three-day event opened in Guadalajara, Mexico. Why all the good cheer? Officials at the...
The Class War Goes Retail

The Class War Goes Retail

For the first time since 1997, the U.S. economy just added at least 200,000 jobs per month for six months running. GDP grew at a 4 percent annual clip between April and June. The percentage of Americans who describe the economy as “good” has climbed to the...
Wall Street Bonuses vs the Minimum Wage

Wall Street Bonuses vs the Minimum Wage

Purveyors of Ferraris and high-end Swiss watches keep their fingers crossed toward the end of each calendar year, hoping that the big Wall Street banks will be generous with their annual cash bonuses. New figures show that the bonus bonanza of 2013 didn’t...
Money Still Can’t Buy Happiness

Money Still Can’t Buy Happiness

What makes us happy? In America, we’ve been asking this question ever since 1776, the year we declared for “life, liberty, and the pursuit of happiness.” Back then, Americans seeking more happiness had little more than guesswork to go by. Now we have...
How Sandy Reveals the GDP’s Twisted Logic

How Sandy Reveals the GDP’s Twisted Logic

As he waded knee-deep in an Atlantic City street, pummeled by Superstorm Sandy’s winds, CNN’s Chief Business Correspondent Ali Velshi declared that it was too early to tell whether Sandy would be a plus or a minus for the U.S. economy. The authorities are...
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