As unemployment continues to rise, the question of extending the maximum term of unemployment benefits keeps coming back. Expected effects of the economic stimulus passed last fall always were dubious. Now, for most households, the stimulus effects of the $600…
Understanding the futures markets
Most people don’t understand how futures markets work. Unfortunately, one needs to understand the basic mechanics of these markets to understand much of the news in recent weeks. The Commodity Futures Trading Commission has launched an investigation into the possible…
Social Security needs new incentives
As baby boomers retire, we are confronted with a dilemma. On the one hand, it will be good for society if more people work later into life. But Social Security, the primary source of retirement income for most U.S. households,…
High commodity prices revive argument about what’s best for poor nations
Talk to a farmer about the high prices for commodities these days, and it’s likely you’ll hear how much more a combine or other farm equipment now costs. The relationship between the prices of raw materials and manufactured goods was…