A week has passed since more than 17 million voters in Great Britain chose to leave the European Union, leading to confusion and plummeting stock markets throughout the world. And while the immediate economic fallout from the “Brexit” decision has tapered off in that time, political leaders as well as regular people still don’t know what will happen next. In fact, British citizens aren’t even sure who will be running their country in a few months. Prime Minister David Cameron Continue reading

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March 23, 2016

According to economists and government officials, the Great Recession officially ended in the middle of 2009. If you ask an average American, however, you’ll likely hear a different answer. 64 percent of people surveyed last year in a Fox News poll said they believed the U.S. economy was still in a recession. A poll conducted by NBC News and the Wall Street Journal the year before came up with similar results. And now thanks to an in-depth study by the Continue reading

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July 30, 2015

Trading commodities is a complicated business. Employees in the industry not only have to possess financial intelligence, they also must be able to seemingly predict the future based solely on projections and estimates. For years traders like these thrived in the “pits” of Chicago and New York’s stock exchanges, shouting about everything from livestock to produce as they searched for deals. These financial foot soldiers eventually became pop culture icons, with frantically yelling floor traders appearing in everything from serious Continue reading

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March 30, 2015

Near the end of February, the Wisconsin legislature passed a controversial bill that could change the face of labor in the state. Under the new “right-to-work” law, employees in unionized, private sector workplaces can choose whether or not to pay their union dues. According to Governor Scott Walker and his supporters, the law grants more freedom for individuals to choose where they work. “This legislation will ensure that Wisconsin’s workers have the sole power to determine whether they wish to Continue reading

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January 16, 2015

In 2007 the American birth rate was clipping along at a steady pace. With an average of 69.3 infants being born for every 1,000 fertile-age women, U.S. citizens were making enough babies to keep the population stable. Then the economy took a nosedive the next year and the birth rate quickly followed suit. According to the National Center for Health Statistics, as of 2013 Americans were making only 62.5 babies per 1,000 potential mothers, an amount that falls well below Continue reading

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November 30, 2014

The stock market crash of 2008 sent shockwaves across the world’s economies, leading many to speculate about the future of American financial policy on the global stage. In the eyes of many experts at the time, the U.S. dollar was especially at risk of losing its decades-long dominance. After all, the inferno of the financial crisis spread so fast because many nations measure their own currency against the dollar. When its value plummeted, so did countless other currencies.

The debacle Continue reading

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August 26, 2014

Economists have long argued that a skills gap is growing among the American workforce. Hundreds of businesses both large and small have echoed this sentiment, claiming that there aren’t enough qualified people to perform certain jobs. However, in most cases this line of thinking simply doesn’t add up. According to the Bureau of Labor Statistics, the number of unemployed people exceeds the number of jobs available in every industry. In durable goods manufacturing, for instance, there are approximately 576,000 idle Continue reading

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August 5, 2014

Even though the U.S. has a gross domestic product (GDP) valued at nearly $17 trillion, that huge figure still doesn’t come close to providing a complete picture of the American economy. Each year billions upon billions of transactions go undocumented, untaxed, and ultimately unrecorded by official GDP statisticians. Whether it’s earning a few bucks by mowing a neighbor’s lawn or by selling drugs, these concealed deals all form what’s known as the underground economy.

Many economists have said that it’s Continue reading

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August 1, 2014

For decades big companies have done their best to avoid hefty corporate tax rates levied by Uncle Sam. The U.S. government collects 35 percent of a domestically based corporation’s income, a figure based on the entirety of the company’s worldwide revenue. This mighty bite from the bottom line leads many firms to reincorporate their companies in places like the Cayman Islands or Ireland, where the corporate tax rate is just 12.5 percent. While this process of “inversion” is entirely legal, Continue reading

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July 20, 2014

 

In early June, Seattle Mayor Ed Murray signed a bill into law that will raise the city’s minimum wage to $15-an-hour. At more than double the federal level, Seattle’s new wage floor will become the highest in the country once it is fully implemented. Large businesses have until 2017 to reach the $15 mark while small businesses can wait as late as 2021. In both cases, wages will be slowly raised in the intervening years to make the process Continue reading

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