In 2013, a graduate student discovered a flaw in a spreadsheet, renewing the debate about austerity and debt. Emerging economies tanked, and Bitcoin boomed. In the U.S., unemployment fell and the Federal Reserve started to scale back its bond-buying program. Research focused on inequality and jobs gap between the highly skilled and everyone else. The Affordable Care Act began.
After serving time in a Virginia prison following convictions on gun and drug-possession charges, Sean Collins-Harris decided he would fight the odds against his ever returning to white-collar work with the only tool he had: education.
In January 1993, Joel Waldfogel asked 86 undergraduate students whether they liked their Christmas gifts. But Waldfogel is an economist, so he phrased the question more precisely, asking them how much they would’ve paid to buy those items for themselves.
Technology that first comes across as a gimmick, in a few years evolves into your trusty sidekick. Give it a few years more, and it will stab you in the back and take your job. Avoid "technological unemployment" by doing what the robots can’t. Be human.
Economist David Autor recently introduced me to a delightfully depressing concept: “now-more- than-everism.” Credit for the coinage goes to Larry Summers , the former U.S. Treasury secretary who is also former director of the National Economic Council, but anyone who follows politics will recognize the premise.
Michael White says he wishes he still could pluck the bass line to Hank Williams Jr.’s “Born to Boogie” and pay bills with money he earns himself. High unemployment -- along with ailments that he says render his fingers inoperative and make him cough up blood -- have dashed his hopes.