Economics

The restaurant industry has been boosting wages to attract workers as it faces a labor crunch.

The U.S. minimum wage is $7.25 an hour, although 29 states have a higher minimum wage. A higher minimum wage fights poverty but raises costs.

El Salvador has voted to adopt Bitcoin as legal tender.

Openings in accommodation and food services saw the largest increase in new opportunities reported in April.

After years of a simmering “techlash” on Capitol Hill, this is the biggest effort yet to make Big Tech into Still Big But Slightly Smaller Tech

This issue explains how the output gap, the difference between potential and actual output, is useful for checking the health of the economy.

Chip shortages and other factors haven't helped, either.

The Girl Scouts have an unusual problem this year: 15 million boxes of unsold cookies. The 109-year-old organization says the coronavirus — not thinner demand for Thin Mints — is the main culprit.

Billionaire hedge fund manager Paul Tudor Jones told CNBC he would "probably buy commodities, buy crypto, buy gold" if the Fed shrugs off inflation.

Texas’s main power grid is currently dealing with more planned outages than normal at this time of year

Still, experts think the lumber market will run hot for years

“Employers are becoming much more cognizant that yes, it’s about money, but also about quality of life.”

Consumers Energy implemented a new summer pricing program that will increase rates for its 1.6 million residential homes by 50% during peak hours.

PARIS (AP) — Google is being fined 220 million euros ($268 million) by France’s antitrust watchdog for abusing its ‘dominant’ position in online advertising. The search engine giant is also promising to overhaul the way its platform is used for buying and selling digital ads, at least in France, which could have repercussions on its ongoing legal fights with regulators elsewhere in Europe, the U.S.

Biogen's drug will cost $56,000 a year

This is the first new drug approved for Alzheimer's disease since 2003. It's the first to show significant progress against the sticky brain plaques that are the hallmark of Alzheimer's disease.

WASHINGTON — The Biden administration has completed a 100-day review of supply chains and will form a task force to address the bottlenecks in the semiconductor, construction, transportation and agriculture sectors.Administration officials said their goal is to increase domestic…

Patrick and Sara McGuire have been growing apples since they were married 25 years ago. Their 150 acres in Ellsworth in northern Michigan— dubbed Royal Farms — are a mix of sweet apples and the bitter varieties suited for making hard cider.Last spring they put in a new crop of…

Your time on Earth is precious and limited. Here’s how to waste it.

DENVER — The Rangers weigh the rewards vs. the risks of having towering Jonah Heim set up on one knee to get his body lower for pitchers. The rewards: He’s...

Answer: 94% of investment pros underperformed (see below), so 6% outperformed.  Questions: Why do you think investing professionals struggle to "beat the market? Why do you think investors continue to invest their money with professionals despite their record of not being able to "beat the market?" Your friend says "you are better off investing with professionals instead of buying a simple index fund (e.g., S&P 500) that matches the market return." Do you agree or disagree based on the data above? Click here for the ready-to-go slides for this Question of the Day that you can use with your students. Behind the numbers (SPIVA report, 2020): A UNIQUE SCORECARD FOR THE ACTIVE VERSUS PASSIVE DEBATE There is nothing novel about the index versus active debate.

Which countries have the highest GDP per capita? This map breaks down the top 25 richest countries in the world.

JEFFERSON CITY, Mo. (AP) — Just a year ago, the financial future looked bleak for state governments as governors and lawmakers scrambled to cut spending amid the coronavirus recession that was projected to pummel revenue.

Much of the Central American country already operates outside the bounds of formal finance

This is a landmark ruling, but they have lots of people to convince

The Group of 7 nations agreed to back a new global minimum tax rate that companies would have to pay regardless of where they are based.

Treasury Secretary Janet Yellen said President Joe Biden should push forward with his $4 trillion spending plans even if they trigger inflation that persists into next year and higher interest rates.

Sports leagues, franchises, and civic boosters tout the economic benefits of professional sports as an incentive for host cities to construct new stadiums or ar...

This article uses an extensive unique data set to investigate the efficiency of government subsides for minor league baseball teams and stadiums by measuring pe...

(Spring 2016) - In this paper, we explore the costs and benefits of hosting the Olympic Games. On the cost side, there are three major categories: general infrastructure such as transportation and housing to accommodate athletes and fans; specific sports infrastructure required for competition venues; and operational costs, including general administration as well as the opening and closing ceremony and security. Three major categories of benefits also exist: the short-run benefits of tourist spending during the Games; the long-run benefits or the "Olympic legacy" which might include improvements in infrastructure and increased trade, foreign investment, or tourism after the Games; and intangible benefits such as the "feel-good effect" or civic pride. Each of these costs and benefits will be addressed in turn, but the overwhelming conclusion is that in most cases the Olympics are a money-losing proposition for host cities; they result in positive net benefits only under very specific and unusual circumstances. Furthermore, the cost–benefit proposition is worse for cities in developing countries than for those in the industrialized world. In closing, we discuss why what looks like an increasingly poor investment decision on the part of cities still receives significant bidding interest and whether changes in the bidding process of the International Olympic Committee (IOC) will improve outcomes for potential hosts.