As traditional pensions, or defined benefit (DB) plans, are replaced by defined contribution plans (DC), workers in New York City and in the nation have less retirement security. Coverage rates for employer plans are falling. Most DC retirement accounts are in the form of 401(k)-type plans -...

We discuss the effects of the stock market in the second part of the paper, which centers on the relation between stock prices and R&D investment. We examine Tobin’s (and Minsky’s) “q” theory and the implications it has for this investment, along with the relationship between innovation...

Nearly one-third of all American workers are paid very low wages, the highest rate among wealthy nations. An incidence of low pay at this level has obvious implications for the current standard of living for a substantial share of American families. But of particular concern are the implications...

Structural changes in the macroeconomy, brought about by the economic crisis, have profound implications for the Chinese textile and apparel sector, since firms will have to shift from mainly serving global brands in foreign markets to serving domestic Chinese consumers. This paper takes up the...

In New Classical and New Keynesian thinking, the cross-country pattern of unemployment reflects prevailing equilibrium rates, which in turn are mainly explained by the protective labor market institutions that produce market rigidities. While this orthodox view has framed nearly all of the...

Employers are the heart of the American pension system and yet they are not well understood by policy makers despite the great influence of Congress on pension design through both regulation and favorable tax treatment of retirement accounts. Employer contributions to employee pensions have...

The paper presents the predominant elements in the worldview of mainstream economists that cause their indifference, incomprehension or hostility to human rights studies as well as the ways economic scholarship can help the development of human rights studies.

This paper investigates the changing relationship between employment and real output in the U.S. economy from 1948 to 2010 both at the aggregate level and at some major industry-grouping levels of disaggregation. Real output is conventionally measured as value added corrected for price...

This paper investigates whether the stylized fact relating globalization with the “feminization” of labor still holds, or if the de-feminization of manufacturing employment in developing countries has set in.

Service industries such as Finance, Insurance, and Real Estate, Education and HealthServices, and Professional and Business Services, for which value added is imputed from incomes, are included in Gross Domestic Product, potentially distorting measures of recession and recovery. An alternative...