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...will graduate into will be one characterized by ever-increasing income inequality and a drop in standards of living. And yet, while studying just a few days ago, a ray of hope shone forth to me from an unlikely source: the otherwise tinder-dry pages of my Ec 10 textbook...
...textbook had the answer: While increased productivity may produce short-term joblessness, there is no evidence that rising productivity leads to increased long-term unemployment. As an economy progresses technologically, it creates new industries, new consumer goods and new services which absorb the jobs lost to more efficient, older industries. America's productivity has grown twelve-fold in the past century, but our employment rate is certainly not one-twelfth of what it used...
Karakasidou case is not one of censorship or academic freedom. It is the textbook example of the market system doing its job. Matt Howitt...
...anti-interventionist instincts aren't so tidy. Forbes has railed against industrial policy, for example, decrying the government-sponsored Sematech chip consortium and the Clinton Pentagon's development of flat-panel computer displays. Yet he heartily endorses Kemp-style enterprise zones that, whatever their worthy aims, amount to a textbook use of government subsidies to improve upon markets...
Borjas, an expert in the impact of immigration on labor markets, has served as an advisor to California Governor Pete Wilson. He has also written a textbook on Labor Economics, according to the release...