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[ FOR THE WEEK OF FEBRUARY 21]
 The End of Welfare?
The ongoing devolution to the states of
responsibilities previously assumed by the federal government has
far-reaching implications for state budgets. The
End of Welfare? Consequences of Federal Devolution for the
Nation, a
collection of essays by some of America’s leading economists on
state fiscal issues, examines the ability of state economies to
accommodate these challenges. The introductory essay by EPI
economist Max Sawicky and the table of contents can be read
online.
NAFTA imports lead
growth in U.S. trade deficit
EPI analyzes the latest trade data released by
the U.S. Department of Commerce. Check out the Trade
Picture for more
details.
Three new op-eds in
EPI's Viewpoints
John Schmitt writes about the 'new
economy' in
London's Guardian; Jared Bernstein takes on inequality
critics in the
Baltimore Sun; and Christian Weller writes about the possible
end of the current economic
boom for
Viewpoints.
Baffled by charges of
"big government"?
Why does Clinton's recently proposed budget get labeled as
being "big" despite evidence to the contrary? Get the facts at a
glance in this week's Economic Snapshot.
The China-WTO trade
trap
The
Clinton Administration is confidently forecasting that the huge U.S.
trade deficit with China will improve if Congress accords China
permanent normal trade relations in order to accommodate Beijing’s
membership in the World Trade Organization. But accession
into the WTO under this arrangement would only serve to exacerbate
the already growing trade deficit, severely depress employment in
the manufacturing sector, and increase income inequality in the
United States. Read EPI's latest Issue Brief, The High Cost of
the China-WTO Deal, by economist Robert E. Scott, for an analysis of why this
trade arrangement would be detrimental to the U.S.
economy.
Jobless rate sinks to
4.0% with wages steady
The
first report on jobs for the year 2000, released today by the Bureau
of Labor Statistics, heralds a continuation of strong employment
trends. January’s unemployment rate of 4.0%, though statistically
unchanged from last month, was the lowest rate since January 1970.
For an analysis of the
latest employment reports from the Bureau of Labor Statistics, check
out the new Jobs
Picture.
Interest rate hike will
hurt most workers
The Federal
Reserve Board decision to raise the federal funds and discount rates
is a mistake. Read EPI President Jeff Faux's statement on
the Fed's recent decision.
Winter book sale at
EPI
Nearly 50 books and
studies from EPI's backlist are now available at substantial
discounts, while supplies last. Many are excellent, affordable
candidates for course adoptions. Check out the Book & Study Sale for a complete
list.
Strong growth built on
shaky foundation
Check out the GDP
Picture for an
examination of the latest report issued by the Bureau of Economic
Analysis.
State of the Union
reaction
Read
EPI President Jeff Faux's reaction to Clinton's State of the Union
address that appeared in the American Prospect's Sounding
Board feature on
January 28, 2000.
State-by-state income
analysis
Despite economic growth and tight labor markets, income
inequality continued to grow in most states throughout the 1990s.
For a closer examination of the issue, check out the report,
Pulling Apart: A
State-by-State Analysis of Income Trends, co-produced by EPI and the Center
on Budget and Policy Priorities.
Slouching toward
Seattle
With
the relentless merging of the world's markets, the WTO
ministerial conference in Seattle begs the question "What global
politics will emerge to match the new global economy?" Get EPI
President Jeff Faux's thoughts on this subject in his article,
Slouching toward
Seattle, appearing
in the December 6 issue of The American Prospect.
Op-ed on WTO in
Viewpoints
The participants in WTO's forum must begin to address the
imbalance between multinational corporate power and the economic
security of families across the nation. For a better understanding
of why this is important and how it can be accomplished, read the
op-ed, What WTO means for working
families, in
Viewpoints.
No shortage of
'nonstandard' jobs
EPI's latest Briefing Paper by University of North Carolina
sociologist Ken Hudson updates two earlier EPI studies on contingent
work. The latest report finds that, despite rising wages and low
unemployment, the majority of Americans working in nonstandard jobs
were, on average, paid less, were less likely to receive health
insurance or a pension, and had less job security than workers in
regular full-time jobs in 1997. For more details, read No
Shortage of 'Nonstandard' Jobs.
The causes of European
unemployment
Check out EPI economist John Schmitt and research
associate Dean Baker's The Macroeconomic Roots of High European
Unemployment, which will appear in the December issue of
WSI-Mitteilungen, a German policy journal. Download
an English-language PDF
version of the
full report.
NAFTA's Pain
Deepens
According to its
promoters, the promise of new jobs was the principal justification
for NAFTA, compensating for the increased environmental degradation,
economic instability, and public health dangers that the agreement
would bring. But from 1994 through 1998, growth in the net export
deficit with Mexico and Canada has destroyed 440,172 American jobs.
The rate at which U.S. jobs are being destroyed by this agreement
has only doubled in 1999, ensuring even greater employment
sacrifices by the American workforce. To better understand the full
effect of NAFTA on workers in every state, read EPI economist Robert
Scott's Briefing Paper, NAFTA's Pain Deepens -- Job destruction accelerates in 1999
with losses in every state.
Jobless gaps still wide
despite strong recovery
According to the analysis featured in EPI's Quarterly Wage and
Employment Series, low unemployment throughout the economy continued to
generate significant wage gains for low-wage workers through the
third quarter of 1999. Get detailed examinations of these and other
labor market indicators online from QWES.
 Can public schools learn from private
schools?
EPI's latest book,
Can Public Schools Learn From
Private Schools? (co-published with The Aspen Institute's
Nonprofit Sector Research Fund), reports on case studies of eight
public and eight private schools, conducted to determine whether
there are any identifiable and transferable private school practices
that public schools can adopt in order to improve student outcomes.
The evidence from interviews with teachers, administrators, and
parents yields a surprising answer, one that should inform our
policy debates about school choice, vouchers, public school funding,
and other education issues. Check out the press release, table of contents,
executive summary, and introduction online.
The budget debate and
public opinion
Read EPI's Issue Briefs, Social Investment and the Budget
Debate, by Jeff
Faux and Max Sawicky, and Washington's Deaf Ear: Public opinion
and the national budget debate, by Ruy Teixeira. These new reports examine the
short shrift given to public investment in the current budget
proposals as well as the public's opinion on how any surplus funds
should be used by the federal government.
Women and the minimum
wage
EPI's
Issue Brief, The Minimum Wage: A Working Woman's
Issue, argues that
an increase in the minimum wage would be most beneficial to
low-income working women. In fact, 58% of the beneficiaries of an
increase would be women, almost a million of whom are single
mothers.
 Is the stock market boom a bust for
workers?
The
latest issue of EPI's Paycheck Economics focuses on the winners and losers
of the rising stock market. Many assume that a booming stock market
means good economic times for everyone, but some important facts
have been lost in the hoopla. Read the executive
summary for the
current issue online.
 Taming Global Finance
EPI's latest book, Taming Global
Finance by
Robert Blecker, examines the impact of capital market liberalization
and finds that it has created much economic
instability and has failed to deliver on the promise of increased
growth. Blecker concludes that a better architecture must include
policies such as regulating capital flows, reforming the IMF,
stabilizing exchange rates, and coordinating macroeconomic policies.
Read the executive summary or the press
release
online.
 Cornell University Press publishes State of Working
America 1998-99
Released by Cornell University Press, The State of
Working America 1998-99 uses a wide variety of data to examine
the impact of the economy on Americans' living standards. So what is
new in the 'new economy'? Unfortunately, not enough, as the wage,
income, and inequality trends of the 1980s persist today. Even with
the 2.6% annual wage gains since 1996, the median wage still trails
its 1989 peak by 3.1%, despite the fact that the typical family
works six weeks more each year than it did in 1989. To learn more
about how America's workers are faring in terms of family income,
taxes, wages, jobs, wealth, poverty, and in comparison to workers
abroad, check out the executive summary, introduction, and the table
of contents to EPI's flagship publication, The State of Working America 1998-99. Lester Thurow
calls it "the best place to review the latest developments in
changes in the distribution of income and wealth."
All material on these pages
is Copyright © 1999 EPI |
