As the pandemic wreaks havoc in the U.S., snatching millions of jobs, the $600 weekly pandemic unemployment payments have single-handedly changed the economic equation in America. Spencer Platt/Getty Images hide caption
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The federal government has been paying this additional amount each week to every person who has lost a job because of the pandemic.
It has also single-handedly changed the economic equation. One topsy-turvy outcome is that many people are earning more staying home than they did in the jobs they lost. And some businesses are finding that employees do not want to come back to jobs that pay less than what they can earn in unemployment.
And here's another article:
Amid Congress Quarrel, Analysts Stress Economic Help | Manufacturing.net
WASHINGTON (AP) — As Congress and the White House resume their efforts to agree on a new economic aid package, evidence is growing that the U.S. economy is faltering. And so is concern that the government may not take the steps needed to support hiring and growth.
"We're in a pretty fragile state again," warned Nancy Vanden Houten, lead economist at Oxford Economics, a consulting firm. "The economy needs another shot in the arm."
Crystal Ball Insights on the Economics of Waste & Recycling | Waste360
In our latest episode of NothingWasted! , we chat with Michael E. Hoffman, managing director and group head of diversified industrials, Stifel Financial Corp.
We spoke with Hoffman about the effect of COVID-19 on the waste industry, the status of M&A activity, what to expect going forward and more.
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Hoffman: I would describe the past few months in three buckets: there's a before, during, and after. If you were talking to companies at the end of March or early April, but didn't know there was a pandemic, and you asked how the first three months of the year went, they'd say, "We're off to a great start; better than last year."
Trump Advisers Still Touting 'V-Shaped' Economic Recovery - WSJ
President Trump's top economic advisers say they still expect a rapid economic recovery despite surges in new coronavirus infections that have rattled consumers and led to new limits on business activity.
"I still think the V-shaped recovery is in place," White House economic adviser Larry Kudlow said Sunday. "I don't deny that some of these hot-spot states are going to moderate that recovery, but on the whole the picture is very positive."
In case you are keeping track:
Australia doesn't need Reagan and Thatcher's neoliberal economics of misery | Van Badham |
The enduring "success" of the neoliberal era is really measured in how effectively it transferred wealth to the rich
COVID-19 is having a devastating impact on the economic well-being of Latino families
Danny De Gracia: Mercenary Economics Are Fueling A Rush To Reopen…
Last week, as Hawaii saw an alarming rise in the highest daily case numbers since the pandemic began, the state Board of Education asked for public input over reopening schools in the first week of August. It received more than 4,000 comments , many in strong opposition.
There appears to be a growing disconnect between the threat COVID-19 poses and the rush by federal and local governments to get people back to work or school, in spite of surging infections. No vaccine has yet been deployed or proven to consistently work against the coronavirus. Herd immunity has not materialized in countries that have attempted that as a public health response.
New paper squares economic choice with evolutionary survival
"People have wanted to make this association between evolutionary ideas and economic ideas for a long time," Price says, and "they've gone about it quite a lot of different ways." One is to equate the economic idea of maximizing utility—the satisfaction received from consuming a good—with the evolutionary idea of maximizing fitness, which is long-term reproductive success. "That utility equals fitness was simply assumed in a lot of previous work," Price says, but it's "a bad assumption.
Price gives another example: climate change. From a purely economic standpoint, he says, one could argue it would be cheaper to do nothing now and wait until geoengineering offers a solution however many years down the road. But we don't know all the risks and potential consequences of multiplicative factors like Arctic permafrost thaws and oceanic circulation changes coming together at once.
Happening on Twitter
The $600 weekly pandemic unemployment payments now make up about 15% of the nation's wages — and have supported man… https://t.co/clSQWwxUvI NPR Mon Jul 27 20:12:04 +0000 2020
This pandemic has had a devastating financial impact on so many Oregonians. Congress needs to step up and extend ex… https://t.co/3SSe4Veuf9 OregonGovBrown (from Salem, Oregon) Sun Jul 26 17:54:11 +0000 2020
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