Daily Economy News
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Teachers Are Students at Our Workshops
AIER’s Teach-the-Teachers Initiative (TTI) is a multiday program that provides high school teachers in various disciplines with understanding of economic concepts. The novelty of the program is the Economics-Across-the-Curriculum approach, which encourages teachers to incorporate economic concepts into their various fields of study. The program, therefore, appeals not only to economics teachers but to teachers…
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Growth in the Money Supply Will Likely Push Inflation Higher
In the long run, growth in the money supply will likely cause inflation, meaning a decline in the dollar’s purchasing power. Following the Great Recession, the Federal Reserve undertook unprecedented measures to jump-start the economy. The Fed dropped its target for short-term interest rates to historic lows. When low interest rates failed to boost the…
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Fixing Too Big to Fail
Regulators misdiagnosed the causes of the 2007–8 financial crisis when they blamed private sector greed and largely ignored the role of government policy, which in fact laid the groundwork for the financial crisis. But the CBO has introduced an intriguing solution to the failed policies from before and after the crisis. In particular, the Community…
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Could Gold-Backed Digital Currency Conquer Fiat Money?
A freely traded digital currency backed by gold may be just around the corner. This week, at the MIT Technology Review’s Business of Blockchain conference, I heard Sandra Ro of CME Group (which operates the world’s largest futures and options exchange) discuss a partnership with the U.K.’s Royal Mint to offer a digital currency called…
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Transfer Payments Tend to Discourage Labor Force Participation
The labor force participation rate began a gradual decline after peaking in the spring of 2000. If the decline is to be reversed, we may need to reassess federal transfer payments that exacerbate the ongoing trend. As the dot-com crash and 2001 recession took hold, the rate was nearly 67 percent. During the economic expansion…
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Teach-the-Teachers Program Is Showcased in Boston
AIER’s founder Col. E.C. Harwood encouraged “the educational aspects of the Institute’s work to be specifically aimed at teachers.” In addition, Harwood was interested in integrating John Dewey’s approaches to stimulating students’ and teachers’ intellectual eagerness. Dewey considered a systematic education in the subject matter as the first and the most important step for a…
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Why Mandate Post-School Plans in Chicago?
One common question to ask high school seniors is what they will be doing after graduation. In Chicago, they may need to get ready to answer that question at the graduation ceremony itself. Mayor Rahm Emanuel has proposed that in order to graduate, Chicago Public Schools students beginning with the class of 2020 will have…
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Should Colleges Share in Student Loan Risk?
In my recent AIER article on student debt, I discussed proposed incentives to encourage colleges to spend more resources on retaining rather than recruiting students. Last week, Doug Webber of Temple University discussed one of these proposals in detail for FiveThirtyEight. The suggestion is for colleges to pay a portion of their students’ loan default.…
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Money School Receives an Award
AIER’s Money School is a financial literacy program that supports survivors of domestic and sexual violence. AIER developed a curriculum that helps the survivors gain the knowledge, confidence, and connections to build their financial future. We collaborate with the Elizabeth Freeman Center of Pittsfield, Mass., which administers the program in Pittsfield, Great Barrington, and North…
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Free-Market Principles Would Have Prevented the Use of Force
As airlines often do, last week, United Airlines overbooked a flight. But this time, all was not well. Overbooked flights are nothing new. According to the Federal Transit Authority, U.S. airlines convinced over 400,000 passengers to give up their seat on an overbooked flight in 2016. Thousands more passengers were simply not allowed to board…
-
Teachers Are Students at Our Workshops
AIER’s Teach-the-Teachers Initiative (TTI) is a multiday program that provides high school teachers in various disciplines with understanding of economic concepts. The novelty of the program is the Economics-Across-the-Curriculum approach, which encourages teachers to incorporate economic concepts into their various fields of study. The program, therefore, appeals not only to economics teachers but to teachers…
-
Growth in the Money Supply Will Likely Push Inflation Higher
In the long run, growth in the money supply will likely cause inflation, meaning a decline in the dollar’s purchasing power. Following the Great Recession, the Federal Reserve undertook unprecedented measures to jump-start the economy. The Fed dropped its target for short-term interest rates to historic lows. When low interest rates failed to boost the…
-
Fixing Too Big to Fail
Regulators misdiagnosed the causes of the 2007–8 financial crisis when they blamed private sector greed and largely ignored the role of government policy, which in fact laid the groundwork for the financial crisis. But the CBO has introduced an intriguing solution to the failed policies from before and after the crisis. In particular, the Community…
-
Could Gold-Backed Digital Currency Conquer Fiat Money?
A freely traded digital currency backed by gold may be just around the corner. This week, at the MIT Technology Review’s Business of Blockchain conference, I heard Sandra Ro of CME Group (which operates the world’s largest futures and options exchange) discuss a partnership with the U.K.’s Royal Mint to offer a digital currency called…
-
Transfer Payments Tend to Discourage Labor Force Participation
The labor force participation rate began a gradual decline after peaking in the spring of 2000. If the decline is to be reversed, we may need to reassess federal transfer payments that exacerbate the ongoing trend. As the dot-com crash and 2001 recession took hold, the rate was nearly 67 percent. During the economic expansion…
-
Teach-the-Teachers Program Is Showcased in Boston
AIER’s founder Col. E.C. Harwood encouraged “the educational aspects of the Institute’s work to be specifically aimed at teachers.” In addition, Harwood was interested in integrating John Dewey’s approaches to stimulating students’ and teachers’ intellectual eagerness. Dewey considered a systematic education in the subject matter as the first and the most important step for a…
-
Why Mandate Post-School Plans in Chicago?
One common question to ask high school seniors is what they will be doing after graduation. In Chicago, they may need to get ready to answer that question at the graduation ceremony itself. Mayor Rahm Emanuel has proposed that in order to graduate, Chicago Public Schools students beginning with the class of 2020 will have…
-
Should Colleges Share in Student Loan Risk?
In my recent AIER article on student debt, I discussed proposed incentives to encourage colleges to spend more resources on retaining rather than recruiting students. Last week, Doug Webber of Temple University discussed one of these proposals in detail for FiveThirtyEight. The suggestion is for colleges to pay a portion of their students’ loan default.…
-
Money School Receives an Award
AIER’s Money School is a financial literacy program that supports survivors of domestic and sexual violence. AIER developed a curriculum that helps the survivors gain the knowledge, confidence, and connections to build their financial future. We collaborate with the Elizabeth Freeman Center of Pittsfield, Mass., which administers the program in Pittsfield, Great Barrington, and North…
-
Free-Market Principles Would Have Prevented the Use of Force
As airlines often do, last week, United Airlines overbooked a flight. But this time, all was not well. Overbooked flights are nothing new. According to the Federal Transit Authority, U.S. airlines convinced over 400,000 passengers to give up their seat on an overbooked flight in 2016. Thousands more passengers were simply not allowed to board…
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