Wages and Salaries

The boss hires his worthless unemployed nephew for a summer job.  Does that raise GDP or lower it? To keep things simple think of this as ex nihilo hiring: if not for this hire, the person wouldn't have been hired... MORE

Jon M at Sociological Speculation reports: ...new drugs such as Modafinil appear to vastly reduce the need for sleep without significant side effects (at least so far). Based on reports from users, it seems that people could realistically cut their sleep... MORE

I'm working on a blog post for later today or tomorrow on Robert Gordon's important new paper, "Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds." In working my way through it, I read a passage that reminded... MORE