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Newsletter
The Rise (and Fall) of Inflation During the Early 2020s
Inflation has been on many people’s minds. There are several measures of inflation available, and each one plays a role in providing a more complete understanding of inflation’s causes and effects. This Page One Economics® Econ Primer describes key measures of inflation, including the consumer price index, and how the Federal Open Market Committee pays particular attention to these measures as it makes policy decisions—adjusting its policy stance when necessary to move the economy toward maximum employment and price stability.
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Education, Income, and Wealth
No surprise?people with more education often earn higher incomes and are unemployed less than those with less education. Those with higher incomes also tend to accumulate more wealth. Why? Research shows that well-educated people tend to make financial decisions that help build wealth. Their strategies, though, can be used by anyone. Learn valuable tips in the January 2017 issue of Page One Economics.
Newsletter
The great inflation: a historical overview and lessons learned
All inflation isn't bad?a moderate amount can signal a healthy economy. But high inflation, such as that during the Great Inflation, can lead to a viscious cycle where expectations of higher inflation lead to further increases in the price level. Read the October 2012 Page One Economics Newsletter to find out what caused the Great Inflation, how tough (and painful) policy brought it to an end, and two key lessons learned.
Newsletter
International Trade
As Adam Smith said, everyone lives by exchanging. They exchange?buy and sell?to make themselves better off. Does the same principle apply to international trade? Do nations benefit from importing and exporting? The November Page One Economics explains the basics of international trade and its importance to the economy.
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Smoothing the Path: Balancing Debt, Income, and Saving for the Future
The life cycle model shows that saving for the future requires people to limit consumption during their working years and save so they will have a ?nest egg? to draw on during retirement. Recent changes in how people save for retirement have shifted some responsibility from firms to individuals.
Newsletter
Examining the "Lump of Labor" Fallacy Using a Simple Economic Model
The lump of labor fallacy holds that there is a fixed amount of work to be done, which determines the number of jobs in an economy. If this were true, new jobs could not be generated, just reallocated. This essay provides some clear thinking about the role of labor in an economy.
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Traditional versus shadow banking
Modern economies rely heavily on financial intermediaries to channel funds between borrowers and lenders. In the first edition of the Page One Economics Newsletter, the role of traditional banking is outlined and a parallel system?shadow banking?is explored.
Newsletter
Will Robots Take Our Jobs?
Many economists see the current wave of new technology and automation as a trend that has been occurring for most of human history, and one that will continue in the future. The challenge is in equipping future workers with the skills they need to be competitive and productive in a changing economy.
Newsletter
Choices are everywhere: why can’t we just have it all?
As the Rolling Stones song says, "You can't always get what you want." So we make choices. Every day, governments and individuals choose how much money to spend and what to purchase. The January 2013 Page One Economics Newsletter, "Choices Are Everywhere: Why Can?t We Just Have It All?" discusses opportunity costs and scarcity and how they effect our spending decisions.
Newsletter
The Productivity Puzzle
Are many products made in the United States anymore? As it turns out, yes. In fact, U.S. manufacturing output is near its highest level ever?and with fewer workers. How is that possible? Productivity growth. The March 2017 issue of Page One Economics describes what affects productivity, why economists are concerned about its recent slowdown, and what can be done about it.