This is a comment on the national November Employment Situation report released last Friday, and I use numbers from the report to calculate when the United States might reach the Federal Reserve unemployment rate goal of 6.5 percent. The unemployment rate fell from 7.9 percent in October to 7.7 percent in November which might appear… Read more

A central concept in Modern Macroeconomic theory is that capital stock will be accumulated through the process of saving for the future. A new country, starting with a low capital level, will accumulate capital for some number of years or decades until reaching an equilibrium level of capital stock. Progressive taxes on capital income imply… Read more