Jobs and economy (page 420)

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    The window is still broken and the shopkeeper still needs a new suit

    Cato’s  David Boaz reminds journalists that hurricanes don’t create jobs, they destroy property and lives making us poorer not wealthier. Oh, dear. Oh, dear. No matter how many times economists debunk the broken window fallacy, not a natural disaster goes by that journalists don’t try to cheer us up…
    Michael Sanera, August 29, 2011
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    Steve Jobs = real jobs

    Burt Folsom notes the job creation of entrepreneurs in history in this post that highlights Nick Schulz’ tribute to Steve Jobs. Kudos to Nick Schulz of the American Enterprise Institute for his comments on Steve Jobs, the now-retired genius at Apple. “Jobs gave people products they didn’t know they…
    Michael Sanera, August 29, 2011
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    Give thanks to “price gougers”

    Some things never cease to amaze me, like yesterday’s news release from North Carolina’s attorney general, Roy Cooper. As far as superficial demagoguery and economic illiteracy go, his comments are right up there. He warns: “price gougers… you can’t use a crisis as an excuse to make an unfair profit off consumers… If you think someone is ripping you off, let me know about it.” Click below to hear my rebuttal on the Bill LuMaye on WPTF (four minutes). [audio:http://bit.ly/nmovlC]
    Fergus Hodgson, August 26, 2011
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    Unemployment data prompt the question: Should we worry about an annual event that seems to have no lasting impact?

    The N.C. Employment Security Commission has released its latest report on county-by-county unemployment figures, and the ESC once again focuses on the loss of government jobs: RALEIGH — Unemployment rates decreased in 48 of North Carolina’s 100 counties in July. Rates increased in 39 counties and remained the same in 13. Not seasonally adjusted, government sector job loss offset small private sector gains. State and local government educational services were mostly affected. “All metropolitan areas across North Carolina experienced a loss in government employment, mainly in educational services,” said ESC Chairman Lynn R. Holmes. “The goal of Gov. Perdue, the ESC and our workforce development partners, is to grow jobs and put people back to work.” Read the first three paragraphs of this press release, and you're left with the impression that the government sector — especially "educational services" — is shedding jobs, more jobs than the private sector can replace. Click the link below for a different side of the story.
    Mitch Kokai, August 26, 2011
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    A budget triumph: Canada’s recent past

    In 1993, Canada's federal debt was equal to 67 percent of the nation's annual economic output, and in 1995 the Wall Street Journal called it an honorary member of the third world. How times have changed. By 2009, that level of debt had fallen to 29 percent of economic output, and Canada's debt appears to be far more manageable than that of the United States. So how did they do it?
    Fergus Hodgson, August 24, 2011
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    More stimulus won’t work any better than the earlier versions

    As politicos bandy about the notion of another round of economic stimulus, the following excerpt from the latest edition of Carolina Journal Radio comes to mind. Economist Paul Cwik of Mount Olive College discusses the key element of a concept labeled Say’s Law. If you’ve ever heard of…
    Mitch Kokai, August 24, 2011
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    Obama’s budget chief knows what Obama doesn’t?

    There’s plenty to make fiscal conservatives and anti-Keynesian economists grumble in the latest Bloomberg Businessweek interview with federal Office of Management and Budget Director Jack Lew. But Lew deserves at least some credit for delivering the following answer to a question about projected unemployment levels: I…
    Mitch Kokai, August 24, 2011
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    Education jobs report: NC public schools need hundreds of teachers

    A Charlotte Observer editorial stated that, as of last week, the Charlotte-Mecklenburg Schools had “a whopping 500 teaching vacancies.”  Editors added, “Officials expect about 350 classrooms to start the year without permanent teachers. Assistant principals and others will fill in.” The North Carolina Public Schools Application System lists…
    Terry Stoops, August 22, 2011