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He contributed articles to Justice, the newspaper of the ILGWU, and became editor in 1952. Rising labor and energy costs in the United States in the ’60s and ’70s forced domestic steel manufacturer NUCOR to find ways to lower production costs. Social scientist expert on the welfare state and a key player in the creation of New Deal and Great Society programs. He was also the U.S. representative for meetings of the European Economic Community in Geneva and the Organization for Economic Co-operation and Development in Paris. These stories all deal with differences in income and how public policy and private funding is used to reduce poverty. ‘If the teacher goes too fast, we normally ask each other questions.’, ‘It’s interesting to see how college courses are going to be’ said another student.”, “Economics U$A examines major historic and contemporary events that have shaped 20th century American economics. Bloomberg Economics created a model last year to determine America’s recession odds. from Harvard University and Ph.D. from the Massachusetts Institute of Technology. Dr. Chandler received his B.A. Economics USA: The Federal Reserve Audio Transcript, Unit 22 Mr. Boies received his B.S. The Perry School for Community Services, a Washington, D.C. poverty-reduction program, offers after-school programs for kids and vocational programs for adults, including recently released convicts. He also held the Organization of American Historians/American Studies Association residency in Japan and was a specialist abroad for the United States Information Agency in Nigeria and the Republic of Korea. His articles were published in The Conservative Papers, The Republican Papers, and Fortune magazine, and by several university presses. These stories showcase the Fed’s capabilities while exploring how responsibilities and challenges have expanded over the years. from Tufts University, and Ph.D. in Economics from Columbia University. Unit 1 from the University of Wisconsin and M.A. 2000 Avenue of the Stars, Suite 1000S, Los Angeles, CA 90067 © 2020 Annenberg Foundation. Gross National Product (GNP), the nation’s total output of goods and services. He was a Fulbright Scholar at the Delhi School of Economics. Economic Analyst A recognized authority in the field of economics and Professor of Economics at Harvard, where he held teaching and administrative positions over a span of 22 years. The need to mobilize resources overseas quickly was palpable. The series covering macro, micro, and international economics features Milton Friedman, Paul Samuelson, John Kenneth Galbraith, Alice Rivlin, and Ben Bernanke, among others. from Georgetown University and Ph.D. in Economics from the University of Maryland. He came to Washington in 1941 to work for the National Resources Planning Board and, in 1946, joined the Commerce Department’s Bureau of Economic Analysis. in Education, and Ph.D. in Developmental Psychology at UNC, Chapel Hill. Dr. Blinder received his B.A. During the Depression he served in the Treasury Department, the Securities and Exchange Commission, and the Commerce Department. Economics USA: Labor and Management Audio Transcript Mr. Weil received his B.A. 19. from the University of Missouri and Ph.D. in Economics from Yale University. An early proponent of environmental protection, he took action against 149 Wisconsin companies for pollution and authored legislation to establish the Ice Age National Scenic Trail. For 26 years preceding the creation of his company, he was Managing Director for Salomon Brothers, Inc., where he made a name for himself predicting the rise and fall of bond prices. He taught at Princeton and Columbia Universities, then served as a Senior Staff Economist on President George H.W. After 1970, Los Angeles was looking for a broad-ranging smog-reduction policy to reflect recently amended Clean Air Act standards. Dr. Spero received her B.A. Subsequently, he was acting Director of the Federal Bureau of Investigation and Deputy Attorney General of the United States, and he served a second term as EPA Administrator, 1983-1985. Economics USA: Economic Growth Audio Transcript, Unit 13 She has authored several books, many articles in professional journals, and is active in professional associations in foreign affairs and economics. Boom and Bust Some thought that productivity was at an end, but government-supported technological innovation spurred productivity to new heights. But a large tax cut in 2001, three wars, a down market and huge entitlement costs pushed the deficit and the national debt to an alarming new height that forced a fierce confrontation between Congressional Democrats and Republicans. A perfectly competitive market does not always provide the right amount of goods, so government fills the gap with public goods. By 1980, a new group of economists called “supply-siders” were calling for government deregulation to spur productivity, amidst great objections from Democrats and some economic experts. from Denison University and Ph.D. in Economics from Princeton University. 23. In 1973 President Ford and Fed Chairman Arthur Burns tried to control inflation by choking the money supply. In the 1990s the U.S. had three ways to ease inflation: Technological innovation, market globalization, and expenditure restraint. The chance of a recession now stands at 100%, confirming an end to the nation’s longest-running expansion. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Mr. Brock received his B.A. This figure is projected to increase to 75 percent by 2050, at a growing rate of 65 million urban dwellers annually. His academic achievements and on-stage talent led to his becoming the economic analyst for Economics U$A in the original and updated versions of the series, currently revised as Economics U$A: 21st Century Edition. President George W. Bush appointed him a member of the President’s Foreign Intelligence Advisory Board, and, in 2009, President Barack Obama appointed him a member of the President’s Economic Recovery Advisory Board. from Columbia University, and Ph.D. in Banking and Finance from the New York University Graduate School of Business Administration. In 2009, the House of Representatives introduced the first piece of comprehensive clean energy legislation, known as the American Clean Energy and Security Act, which both economists and energy providers could support. He is also Chairman of Criterion Economics. He held positions in the federal government, labor movement, and academia, serving in the U.S. Office of Education, Department of Labor, and on the National Labor Relations Board. He has spoken and written extensively on banking, finance, and economic development. Earlier, he was the Director of the Financial Research Program at the National Bureau of Economic Research, where he invoked the usage of government-developed “economic indicators” (statistics about the economy). Economics USA: Economic Efficiency Video Transcript Mr. Riedl received his B.A. Dr. De la Calle received his Ph.D. in Economics from the University of Virginia. Dr. Thorp received his B.A. He attended Capitol Page School in Washington, D.C., and was a page in the House of Representatives from 1938 to 1943, prior to his service in the U.S. Army during World War II. He develops strategies affecting health-care providers and insurers, pharmaceuticals, consumers, and U.S. healthcare initiatives, as well as federal and state development and implementation of communication and advocacy efforts. When the Observer lost its funding, he worked for Inc. magazine before joining the Washington Post. She is a Director of the Council on Foreign Relations, a Trustee of Columbia University and the Brookings Institution, and a member of the Trilateral Commission, the Atlantic Institute, and the American Academy of Diplomacy. Additionally, his support for the A-10 and the lightweight fighter program (later the F-16) helped ensure that they were carried to completion. This notion gave him the reputation of being a pragmatic conservative, jokingly referred to as a “liberal’s conservative and a conservative’s liberal.” He was author of The Fiscal Revolution in America and was on the board of contributors of the Wall Street Journal. Classroom Resources > To begin the seventh edition of our series comparing policy in Texas and California (previous entries in March 2010, February 2013, April 2013, October 2018, June … He … He opposed a revival of mandatory wage and price controls, favored by some economists. In 1937 the Tennessee Valley Authority (TVA), a government-owned utility company, was created to electrify rural communities and control flooding. In World War II, he won a Bronze Star as an infantryman and after the war served as deputy general counsel for the Marshall Plan. A video instructional series on micro- and macroeconomics for college and high school classrooms and adult learners; 28 half-hour video programs; 28 audio programs; and website. President Donald Trump last month signed the largest relief package in U.S. history, which provides approximately $2 trillion in support. The Internet is a technological innovation that paved the way for other innovations such as smart phones. from Columbia University. Mr. Volcker received his B.A. In 1998, the U.S. government filed a suit against the world’s largest software company, Microsoft, for participating in anti-competitive practices. Dr. Holtz-Eakin received his B.A. 11. He served as an adviser to Presidents John F. Kennedy and Lyndon B. Johnson, and to the United States Treasury, the Bureau of the Budget, and the President’s Council of Economic Advisers. During World War II, he served with the Office of Price Administration and other agencies that designed strategies for price controls. Governor of the Bank of Israel and former U.S. adviser to Israel’s economic stabilization program. While unemployment peaked at 10% in 2009, and rose even higher in the early 1980s, other downturns have brought still-painful but smaller increases in the jobless rate. These stories illustrate the pros and cons of free trade. Dr. Stein received his B.A. Quarterly change in U.S. unemployment rate in past recessions. Chairman of President Richard Nixon’s Council of Economic Advisers (CEA), now the Edmund Ezra Day Distinguished University Professor Emeritus of Business Administration, Economics, and Public Policy at the University of Michigan. In 2002 the Euro became the standard currency for the entire European Union and threatened to compete with the dollar. In 1977, the federal court system told the Reserve Mining Company to build a $400 million disposal site for carcinogenic materials. 26. Selected key indicators from recession probability model, Note: An Employment Diffusion Index lower than 50 means more industries are reducing employment than increasing employment, Sources: Labor Department, Bloomberg Economics. But in the wake of the 2008 Great Recession and the failure of regulators to act, the Dodd/Frank Wall Street Reform and Consumer Protection Act became law. She received a MacArthur Foundation Fellowship, has taught at Harvard University, George Mason University, and New School University, and has served as President of the American Economic Association. Senior fellow at the American Enterprise Institute and Chairman of the Council of Economic Advisers under presidents Richard Nixon and Gerald Ford. His solution to the problems of inflation and short-run fluctuations in employment and real GNP was a so-called money-supply rule, which stated that if the Federal Reserve Board were required to increase the money supply at the same rate as real GNP increased, inflation would disappear. from William Penn College and his M.A. In preparation for WWII, the Roosevelt administration instituted wage price and price controls to curb inflation and better focus production on war materials. Economics USA: Boom and Bust Video Transcript By 1925 Great Britain went off the gold standard, managing to increase exports and lessen imports. from the London School of Economics, and Ph.D. from the Massachusetts Institute of Technology. Economics USA: International Trade Video Transcript, Unit 28 from the Wharton School at the University of Pennsylvania and L.L.B. This paper. from the University of Washington and a Ph.D. in Economics from Harvard University. Stagflation Dr. Crandall received his M.S. The jobless rate differs greatly between downturns depending on the breadth and severity of the recession.