Economics

The share of adults who live in middle-class households fell from 61% in 1971 to 50% in 2021, according to a new analysis.

Gini index - Canada, France, Germany, Italy, Japan, United Kingdom, United States from The World Bank: Data

The metal has entered a bear market before every recession in the last 30 years.

Bay Area cities have started banning the construction of new gas stations to combat climate change. Some lawmakers hope Los Angeles could join the movement soon.

Insulin management has improved dramatically over the past decade, but the price of insulin has nearly tripled. California has proposed a new solution to curb the price.

COLOMBO, Sri Lanka (AP) — Miraj Madushanka never thought he'd need government rations to ensure his family could eat two meals a day, but Sri Lanka’s economic crisis, the worst in its history, has recast his life and those of many others in its burgeoning middle class.

As more companies bring manufacturing stateside, here’s what they can and can’t say about being American-made.

The FDA's unnecessary and protectionist rules that effectively ban foreign-made baby formula from being imported into the U.S. led to the crisis.

What's your new rate for your student loans?

Buy now, pay later could pose a challenge to credit cards’ leading position in US payments. To sustain profitable growth, issuers may need to rethink their products, economics, and value propositions.

Fish, please.

NPD Group reports that sales of lipstick are rising more than twice as fast as other products in the beauty category this year. This lends more credence to the Lipstick Effect theory that in tough economic times, sales of lipstick rise.

You may be aware of a recent meta-analysis I did with some colleagues—Tim Kaiser, Annamaria Lusardi, and Lukas Menkhoff. We look at all experiments that randomize who did—and did not—receive financial education across every single experiment ever written! On average: financial education improves financial behaviors in a cost-effective way. Figure 3 from the research brief linked above shows that financial education improves behaviors across many domains!  While those findings are exciting for the financial education field, they say very little about what works and for whom.

Between December 2020 and 2021, wages and salaries for civilian workers rose by 4.5 percent, the fastest annual increase since 1983. This fast growth has driven salaries 1.2 percent above their pre-pandemic trend. But prices have also risen rapidly.

Public policy experts call income and wealth inequality one of the defining challenges of this century. Recent crises have accelerated these divisions, and the COVID-19 pandemic has deepened them fur…

Politicians blame “corporate greed” for the formula shortage. But it’s their own destructive policies that are to blame. ————To make sure you see the new w...

This graphic shows how to plan for sufficient retirement savings, and how the U.S. population measures up at each step.

Eighty years after a segregation wall rose in Detroit, America remains divided. That's not an accident.

Author Gerald Van Dusen tells the story of Detroit's Birwood Wall: Hatred and Healing in the West Eight Mile Community. This isolated black enclave transformed a symbol of discrimination into an expression of hope and perseverance.

Engage with History, Inspire our Tomorrow Begin Your Journey Here

The Detroit riot of 1967, The Great Rebellion, was Detroit's defining moment. Fifty years later, what have we learned?

Every problem is the trolley problem.

The economy has been surprisingly disappointing 👎