Source: Wall Street Journal
News
Feb. 1, 2017
New York, Miami, Los Angeles, Houston and Dallas are home to half of new business startups—and Americans are increasingly unwilling to move to such hotspots for the jobs they are spawning. At no time in recent history has entrepreneurship been so heavily concentrated in a handful of big cities, according to a bipartisan team of economic policy advisers at the Washington research and policy shop.
News
Jan. 30, 2017
The Trump order aims to prevent such waste by requiring the agencies to repeal two old rules for every new one they publish. . . the text of the order suggests that for every dollar of new cost imposed on the private economy, each agency will have to find two dollars of burden to relieve. . . many civilized countries use such budgets to manage the regulatory state and stay competitive. Canada requires every rule that creates another hour of paperwork for business compliance to be offset one for one. The United Kingdom and Australia have harder versions that require the costs of new rules to be offset by deregulation of comparable net value.
News
Jan. 27, 2017
"The total number of union members fell for both private- and public-sector workers last year, the first overall decline in four years, the Labor Department said Thursday. New policies from the Trump administration threaten to put more downward pressure on organized labor’s last stronghold, government employees, but might help stem membership losses among manufacturing and construction workers. Only 10.7% of workers were union members last year, down from 11.1% in 2015, and from more than 20% in the early 1980s. It is unclear whether any of Republican President Donald Trump’s policies could reverse this decadeslong slide in private-sector union membership, especially when unions were unable to gain traction with a union-friendly Democrat in the White House."
News
Jan. 27, 2017
"U.S. economic output decelerated in the final three months of 2016 to a 1.9% growth rate, returning after a brief spurt to the stubbornly lackluster pace that has prevailed through most of the current expansion and which President Donald Trump has pledged to double. Growth of gross domestic product, a broad measure of the goods and services produced across the economy, exceeded the pace of growth in a slow first half of 2016, but marked a slowdown from the third quarter’s seasonally and inflation adjusted 3.5% growth rate. More broadly, it was in line with the 2% growth rates that have made this the slowest economic expansion in post World War II history."
News
Jan. 24, 2017
The paper, by Daron Acemoglu of the Massachusetts Institute of Technology and Pascual Restrepo of Boston University, argues aging populations have not had a negative effect on the growth of per-capita gross domestic product. In fact, some aging countries have seen faster growth. . . The economists find that countries where the population over age 50 is growing faster than the 20- to 49-year-old population have been more likely to acquire robots to do a worker’s job. Those investments make it easier for firms to replace departing workers even when there are fewer younger workers to take the retirees’ place.
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