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...First mooted by economist Arthur Okun in 1962, the law (it's really more of a rule of thumb) says that when the economy grows, it produces jobs at a predictable rate, and when it shrinks, it sheds them at a similarly regular pace. It's a labor version of how the accelerator on your car works: add gas, go faster; less gas, go slower...

Author: /time Magazine | Title: Jobless in America: Is Double-Digit Unemployment Here to Stay? | 9/11/2009 | See Source »

...most iconic economist, Milton Friedman, wrote in 1970 that a corporation's only moral responsibility was to increase shareholder profits. Since 1995, the number of socially responsible investment (SRI) mutual funds, which generally avoid buying shares of companies that profit from such things as tobacco, oil or child labor, has grown from 55 to about 260. SRI funds now manage approximately 11% of all the money invested in U.S. financial markets - an estimated $2.7 trillion...

Author: /time Magazine | Title: For American Consumers, a Responsibility Revolution | 9/10/2009 | See Source »

...gold, many corporations discovered that business was about a lot more than a profit-and-loss statement. At first, the corporate stance was defensive: companies were punished by consumers for unethical behavior. In the 1990s, companies like Nike and Walmart were attacked for discriminatory and unfair labor practices. People became alarmed about "blood diamonds," or "conflict diamonds" - gems mined in war zones and used to finance conflict in Africa. More recently, consumers have become concerned about the sourcing of metals used in computers. The nexus of activist groups, consumers and government regulation could not merely tarnish a company...

Author: /time Magazine | Title: For American Consumers, a Responsibility Revolution | 9/10/2009 | See Source »

...will be run by a consortium, coordinated by academics and supported in part by companies such as Procter & Gamble, PepsiCo and General Mills.) But Walmart is far from perfect. While the company has made great strides on the environmental front, it still has a ways to go on the labor front, especially in ensuring fair treatment for the people in developing countries who work for its vendors...

Author: /time Magazine | Title: For American Consumers, a Responsibility Revolution | 9/10/2009 | See Source »

Guess they weren't ready for summer vacation to end either. Doma employee Subash Khadka estimates they order roughly double the amount of alcohol during the school year. Imagine their surprise when a slew of students in search of alcohol turned up before Labor Day. You don't have to graph any supply and demand curves to figure out we were hit by an temporary liquor shortage...

Author: By June Q. Wu | Title: No Booze? Blame It On the Calendar Reform | 9/9/2009 | See Source »

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