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With the labor market release, we have a new read on real wage growth. Figure 1: Year-on-Year growth rate of average hourly earnings for private sector production and nonsupervisory workers adjusted by CPI (blue), production and nonsupervisory workers in leisure and hospitality services (tan), median hourly earnings of all workers (green). October CPI is the […]

Education policy, in general, reflects the past and present embrace of science and technology as progressive forces to be further cultivated. Technology has a profound effect on education policy. It serves to divert rather than enhance critical thinking about the future of our race and planet. In addition, the emphasis on technology has dramatically increased vocational emphases that elevate instrumental pedagogical concerns over philosophic reflection on ends. The technology-driven, vocationally rooted school agendas ignore alternative cultural reflections as powerful forces and directions remain exempt from scholarly examination. "How to" triumphs over "why?" The corporate-financed business-education partnership movement gathering momentum in schools across the nation raises a question: If pervasive environmental and human problems are endemic to the emerging technology-supported and technology-driven global order, how will schools end their denial of needed cultural change?

Inflation has not kept with wage growth over the last year. Figure 1: Cumulative growth of average hourly earnings from CES adjusted by Chained CPI (blue), leisure and hospitality services (tan), median average hourly earnings calculated from CPS data (teal squares), relative to 2019M09. CES hourly wages for production and non-supervisory workers. NBER defined peak-to-trough […]

This study expands existing research by considering both exports and tourism as potential influencing factors for economic growth. While trade of goods has been proven as a means of growth for countries, inbound tourism as non-traditional exports, has been scarcely examined in the literature. Using data for Italy and Spain over the period 1954-2000 and 1964-2000 respectively, both exports of goods and tourism exports are included in the same model. Standard cointegration and Granger causality techniques are applied. The main results reveal the significance of both exports and tourism towards longterm growth with some peculiarities for each country.

Anonymous tells a story about an old engineer regaling people with aphorism like "you may know the significant digits but do you know the significance of the number", in talking about what the average joe is experiencing. Here are some easily calculated numbers showing the distinction between mean and median average hourly earnings (note that […]

O N 1 January 2016 the Chinese government formally abolished the one-child policy, replacing it with a two-child policy.

The Gini coefficient is widely used in academia to discuss how income inequality affects development and growth. However, different Lorenz curves may provide different development and growth outcomes while still leading to the same Gini coefficient. This paper studies the development effects of ?mean division shares?, i.e., the share of income (mean income share) held by people whose household disposable income per capita is below the mean income and the share of the population (mean population share) with this income, using panel data. Our analysis explores how this income share and population share impact development and growth. It shows that the income and population shares affect growth in significantly different ways and that an analysis of these metrics provides substantial value compared to that of the Gini coefficient.