Where financial reward was once presumed to be the only motivator, we now see the striking roles played by several factors, such as complexity and the desire to be seen as intelligent.
To assess the future, it helps to understand the past. We have spent the past six years or so battling the fallout from the Great Financial Crisis (GFC). This fallout includes broken growth models around the globe, both developed and emerging, leaving the world to await the next great growth model.
In the latest statement from the Federal Open Market Committee, Fed Chair Janet Yellen seemed to set aside some of her earlier concern about slack in the labor market and sounded a note of optimism that lower unemployment signaled a stronger economy.
The Next Big Thing
In 2014 emerging markets have shown remarkable resiliency despite negative news and record foreign investor outflows. Jay Pelosky, founder of J2Z Advisory LLC, suggests the answer lies with financial asset expansion in the emerging economies themselves—or what Pelosky calls “a rising tide of middle-class wealth.”
How the U.S. Could Generate Over 1.3 Million Private Sector Jobs in Six Months and Still be in a Slump
At first glance, the U.S job picture continues to improve with the U.S. economy generating an average of 222,000 new private sector jobs a month in the first half of 2014. But as Daniel Alpert, a founding member of the World Economic Roundtable, explains in his latest review of America’s job market there is a more sobering reality behind these headline numbers.
How Private Debt Is Holding Back Growth and Hurting the Middle Class
Over time, the US economy has become more dependent on debt to fuel economic growth. American households, in particular, have become dependent on debt to maintain their standard of living in the face of stagnant wages.
How American Socio-Economic Policy Is Falling Short
Staring headlong into a difficult – and changing – world economy that has yet to fully recover from the Great Recession, many middle class families are trapped between low, stagnant wages and an increasingly expensive set of social and economic supports.
Policies for Cheaper, Cleaner Auto Transportation in California's Central Valley
Income inequality in California is already high, and it continues to increase. This income inequality is exacerbated by unequal access to jobs, credit, and efficient vehicles.
America's Deleveraging and Recovery Experience
The bursting of the housing bubble in 2008 plunged the U.S. economy into a serious crisis, leaving American households with a huge debt overhang and the economy with a large gap in output and employment.
By improving productivity, we can continue improving our health while not sacrificing too much of our material well-being in the process.
It’s Time to Focus on The Income Effect to Understand the Sluggish Economy
The “wealth effect” concept is remarkably simple: spending increases (decreases) as perceived wealth increases (decreases). When people perceive themselves to be richer, they spend more. With the prices of stocks and bonds near all-time highs and home prices on the rebound, consumer spending should be on a tear. But it’s not -- much to the consternation of many economists, particularly those at the Federal Reserve. As a result, many believe the wealth effect is somehow broken.