Category: Macroeconomics

Does the U.S. Economy Need Another Government Stimulus Package?

In an opinion column on bloomberg.com, Michael Strain of the American Enterprise Institute argues that Congress should pass another stimulus package to supplement the $1.8 trillion Coronavirus Aid, Relief, and Economic Security Act that Congress passed and President Trump signed into law in March. His proposal would involve an additional $1 trillion in spending.

You can read the column HERE. Note that most bloomberg.com articles require a paid subscription, but you can read several articles per month for free.

Does Automation Lead to Permanent Job Losses?

This post on the Federal Reserve Bank of St. Louis’s Page One blog discusses how the belief that automation can lead to permanent job losses is an example of the “lump of labor” fallacy. Click HERE to read the article.

The post refers to the circular-flow diagram, which we discuss in Chapter 2 and in Chapter 18 in the textbook. We discuss the effects of automation and robots on the labor market in Chapter 16.

11/06/20 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the economic outlook given where the Presidential election stands.

Authors Glenn Hubbard and Tony O’Brien look at the economic outlook given the current status of the presidential election. Will a divided government lead to economic prosperity or result in more gridlock? They discuss how much the President actually controls economic policy by setting the tone but that other instruments of our government likely have more effect in creating long-term growth in the Economy.

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10/24/20 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the economics of issues raised during the Final 2020 Presidential Debate.

Authors Glenn Hubbard and Tony O’Brien discuss the economic impacts of what was discussed in the final Presidental debate on 10/22/20. They discuss wide-ranging topics that were raised in the debate from reopening the economy & schools, decreasing participation of women in the workforce due to COVID, healthcare, environment, and general tax policy. Listen to gain economic context on these important items. Click HERE for the New York Times article discussed during the Podcast:

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The Wall and the Bridge – an article from Glenn Hubbard in National Affairs.

Advances in technology and expanding international trade have disrupted some key U.S. industries. These developments have made new products available, lowered the prices of existing products, and fostered the creation of new companies and new jobs. Yet, there has also been a downside. Some U.S. manufacturing firms have disappeared and some workers have been left unemployed for long periods. How can economists help frame a discussion about policies that will help everyone participate as the economy continues to evolve? Glenn Hubbard discusses a new approach in his article “The Wall and the Bridge”, published in National Affairs in September 2020.

9/18/20 Podcast – Authors Glenn Hubbard & Tony O’Brien answer questions asked by Principles students from the University of Notre Dame!

Glenn & Tony address questions asked of Glenn during a recent virtual class visit to Eva Dziadula’s Principles of Economics class at the University of Notre Dame. They deal with Glenn’s tenure with the CEA and his feelings on the current challenges facing the CEA. They also discuss career options for Economists and how an economic way of thinking will help in any career.

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9/11/20 Podcast – Authors Glenn Hubbard & Tony O’Brien cover current events, Micro, and Macro! They discuss 9/11, the rising stock market, the challenges facing restaurants, as well as shifts in strategy for the Fed!

Authors Glenn Hubbard and Tony O’Brien continue their weekly discussion about the effects of the Pandemic on the US Economy. They discuss the disconnect between stock market performance and the overall economy. Also, they look at the decision of restaurants to stay open despite struggling to breakeven due to limitations on indoor seating. The Fed’s pivot on the dual-mandate is also discussed as they announce more of their monetary policy focus will be on unemployment rather than inflation.

Over the next several weeks, we will be gearing up this podcast to become an essential listen during your week. Whether your interest is teaching or policy, you will learn from this discussion.

Just search Hubbard O’Brien Economics on Apple iTunes and subscribe!

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8/21/20 Podcast – Authors Glenn Hubbard & Tony O’Brien reflect on the policy effects of the government response and the impact of no events on places like Orlando and college towns.

Authors Glenn Hubbard and Tony O’Brien revisit some of the policy responses to the Pandemic to discuss unemployment payments and other government fiscal responses. They also consider some of the longer-term impacts on business – like supply-chains – and the role that Economics can play in these issues. Glenn and Tony discuss how tourism is impacted in places like Orlando or college towns without college football as an economic engine.

Over the next several weeks, we will be gearing up this podcast to become an essential listen during your week. Whether your interest is teaching or policy, you will learn from this discussion.

Just search Hubbard O’Brien Economics on Apple iTunes and subscribe!

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We’re back!! 8/12/20 Podcast – Authors Glenn Hubbard & Tony O’Brien discuss the Covid-19 Pandemic effects and responses as we move towards Fall 2020!

Glenn Hubbard and Tony O’Brien talk about the effects of the Covid-19 pandemic as we head into fall classes. They discuss the impact on teaching and learning as well as a fresh look at the impact of government policies over the past few months. The challenges facing the US economy are discussed as well as how the Nike swoosh or V-downturn is now looking somewhat differently in August 2020. We will begin doing WEEKLY podcasts as we head into Fall of 20202. Please look for new episodes at the end of each week and please subscribe to our Podcast feed via your preferred Podcast app – including iTunes Podcasts!

Just search Hubbard O’Brien Economics and subscribe!

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6/12/20 Podcast – Glenn Hubbard & Tony O’Brien Welcome Guest – Prof. Kim Holder from the University of West Georgia!

Glenn Hubbard and Tony O’Brien talk with Kim Holder of the University of West Georgia. Kim discusses many best practices in preparing for her fall courses that are so flexible they can easily adapt to in-person, hybrid, or online. Listen to her observations about the delicate nature of discussing COVID-19 in classes this fall as well as her passion for personal financial literacy in the wake of the traumatic event. Both instructors and students will learn from what Kim has to say!

Links for podcast of June 12th, 2020 with Kim Holder of the University of West Georgia:

Pyle Pro Portable PA Speaker Voice Amplifier – Pyle PWMA50B – in Black

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Economics in One Lesson by Henry Hazlitt

https://www.amazon.com/gp/product/B003XT60KO/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0 or at no charge from the FEE here: https://fee.org/resources/economics-in-one-lesson/

Tyranny Comes Home by Christopher J. Coyne (George Mason University) & Abigail R. Hill (University of Tampa), Stanford University Press, 2018

https://www.amazon.com/Tyranny-Comes-Home-Domestic-Militarism/dp/1503605272

Please listen & share!