Word: laborer
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...mill economist would define deflation as the loss of money supply and credit in the markets. Simply stated, the value of money erodes as prices drop sharply. The value of labor and goods and services goes into free fall...
...same set of dynamics hold true for businesses. If they have any cash flow at all, they put it toward improving their balance sheets and hoarding cash. But, when labor which once cost $20 an hour moves down to $8, the temptation to make very modest investments in adding employees and expanding production eventually becomes irresistible...
...plants; wetlands restoration in the Everglades and coastal Louisiana; repairs for aging dams, bridges and airports - plus broadband networks, research, job training and, as Obama has suggested, anything else that seems like a good idea. This is an ideal time for the government to spend money on infrastructure, because labor and equipment are cheap. And improving our shameful infrastructure will improve our competitiveness...
...results, some critics in higher education are concerned that cash incentives will encourage students to start taking easier courses to ensure they'll do well enough to pocket the money. "Everyone knows what the gut classes are when you're in college," notes Kirabo Jackson, an assistant professor of labor economics at Cornell who has studied cash incentives for high school students. "By rewarding people for a GPA, you're actually giving them an impetus to take an easier route through college." Other critics note that students' internal drive to learn may be sapped as they focus on getting...
...Italy, there was a mix of relief and anger. Labor unions, which struck as recently as last Wednesday, have virulently opposed the new consortium, which has trimmed the 20,000 work force by some 3,000, and cut pay and benefits to those employees who remain. Unions say that joining up with Air France is essentially the death knell for the Italian carrier. More labor unrest is expected. But many ordinary Italians will finally be satisfied that an apparently viable solution had been found to avoid more public investment or outright failure of the national carrier...