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Federal Reserve Board nominee Peter Diamond, under whom Ben Bernanke studied; Dale Mortensen and Christopher Pissarides have won the Nobel Peace Prize in Economics. Marginal Revolution has an excellent summary of Diamond’s works. MarketWatch explains the economists’ Nobel-winning theory in layman’s terms: Diamond, Mortensen and Pissarides reject (the economic theory that all unemployment is voluntary), […]
Image: Pantomime Voiceover
India’s currency, the rupee, now has its own symbol, thanks to Indian Institute of Technology post-grad D Udaya Kumar, whose design was chosen in a national contest. Kumar will get an award of Rs 250,000, nearly $5,400–and India will get a new currency symbol. The Times of India has more: The Indian rupee will soon […]
The International Monetary Fund (IMF) has projected that the global economy will grow 4.6% this year, 0.4% more than its initial projection. That’s the most growth since 2007, according to Bloomberg, which has the story: Canada and the U.S. are leading advanced economies out of the worst recession since World War II, trailed by euro-area […]
What global business markets make people the most money? It depends. If following the law and paying taxes plays a role, oil, weapons, and alcohol are decent bets. For those who prefer the black market side of things, however, you can’t beat illegal products like drugs and counterfeits. We’ve combined the best of the world’s […]
There is a price to be paid for morality. Laws prohibiting alcohol, marijuana, same-sex marriages and gambling which promote community morals and standards also have another effect — a major loss of revenue from sales and taxes.
Image source This is a guest post by Jacob Cherian of SourcingLine. In a recent statement, President Barack Obama implied that he would cut tax breaks to companies offshoring jobs overseas. It appears the move is to arrest the outflow of jobs from the U.S. But analysts are not sure if this new regulation will […]
One reason for the growing disparity between the rich and the poor is the fact that most new jobs that are created pay low wages and often do not offer retirement plans or health coverage. Here is a graphic look at the widening gap between the nation’s rich and poor.
Share Now that the dust has settled on yet another holiday season, now is the time that we bask in our takings. Even though the holiday spending spikes that most businesses see during December have come to an end, big profits are still made thanks to the overwhelming popularity of gift cards in recent years. […]
As 2009 winds to a close, time has once again come to make your new year’s resolutions. If personal finance is important to you, you undoubtedly wish to set financial goals for yourself in 2010.
In the U.S., our dependence on oil not only makes for wealthy oil companies, it also supports our federal, state and local governments. Gas taxes add up quickly and some areas of the country are taxed more heavily than others. However, one surprising thing holds true: The government profits even more from our oil addiction than the super-rich oil companies do.
European researchers have concluded that a big enough shadow economy can protect a country from recession. The Financial Times reports: Unofficial, or “shadow”, economies can help shield European countries during a recession – but illicit activity has to be on a sizeable scale, according to report by Germany’s Deutsche Bank. Countries with a high prevalence […]
