Word: economisters
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...Industry spokespeople argue that such luxury pricing is needed to keep the base fares low, and is no different from the extravagant prices you pay at concerts and sporting events. "You go to a baseball game and pay six bucks for a hot dog," says John Heimlich, chief economist for the Air Transportation Association. Pillows, blankets, the best seats-"those luxuries are things that we're not baking into the price anymore," he says. "Every little bit helps...
...visas currently available to foreign workers (including highly skilled ones). That's like adding a city the size of Atlanta each year. But it's a small fraction of the U.S. workforce of 139 million. "No credible estimate exists that [shows] immigrants cause unemployment," says James Smith, a senior economist at the Rand Corp. On the other hand, immigrants at least cause displacement by taking low-paying jobs from some Americans...
Primarily those without high school degrees. Harvard economist George Borjas estimates that the influx of foreign-born laborers has shaved the incomes of U.S. high school dropouts as much as 8%--and taken their jobs in industries like food service and construction. Of the 4.8 million net new workers who entered the labor force from 2000 to 2005, 4.1 million were recent immigrants, says Andrew Sum, director of the Center for Labor Market Studies at Northeastern University. "If you're young and male and a high school dropout, chances are you've been displaced by an illegal immigrant," he says...
Many employers already pay minimum wage to illegal workers. Although some shifty employers may still exploit workers they can keep off the books, "I really don't think most serious corporations want that," says Jagdish Bhagwati, an economist at Columbia University. That's because, says John Gay, a lobbyist for the National Restaurant Association, "a steady supply of dependable labor is more important [than minimum wage] to employers trying to grow their business." Forecasts of labor shortages spook some employers; restaurants expect 15% job growth over 10 years, while the labor force is predicted to grow only...
...Economist Juliet Schor, who at the First Parish Church conceded to being incredibly afraid to enter a Harvard classroom, articulates upon ideas of family spending and leisure time in “Global Values 101.” Her ultimate message to students: “Do not sell your soul for some purpose. Do something that you really believe is really right...