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...beginning in the early 1970s that created concern among economists such as Krugman. Low productivity growth explained much of what had gone wrong with the U.S. economy: stagnant wages, high inflation, ground lost to Japan. But what caused it? The most convincing explanation came from Northwestern University's Robert J. Gordon. In the early and mid-20th century, he argued, the U.S. benefited from a spectacular confluence of technological innovation involving electricity, the internal combustion engine, petrochemicals and communications. By the 1970s the economic impact of innovation in these fields had waned, and nothing came along to replace...
...just not going to evict innocent tenants. It stops today.' THOMAS J. DART, sheriff of Cook County, Ill., on suspending foreclosure evictions in the Chicago area because renters were not being properly notified about their landlords' financial problems...
...benefit of turmoil: the bear market of 2008 may have ended the spendthrift ways of the 80 million--strong boomer generation, which is now heading rapidly toward retirement, and refocused them on saving. "We must have a reset on consumer spending; frankly, it is out of control," says Daniel J. Houston, president of retirement investor services at Principal Financial Group in Des Moines, Iowa. The average contribution to a 401(k) plan is 7% of salary, yet the average person may need to save 13% to 15% of his salary to maintain his standard of living in retirement. For people...
...What is most interesting is what it means in terms of our backyard,” said Daniel J. Jacob, a professor of atmospheric chemistry and environmental engineering and Leibensperger’s thesis adviser. “One thing that Eric’s work has established is that with climate change you have more stagnant...
...last night at the Institute of Politics intended to provide clarity which they say is lacking on the national stage. Eva Z. Lam ’10 and Jonathan P. Hawley ’10—legislative director and events director of the Democrats—and Colin J. Motley ’10 and Jeffrey Kwong ’08-’09—president and president emertius the Republicans—sparred on a range of issues during the hour and a half debate, including the state of the economy, health care...