Why Is Unemployment So Low?

Markets are supposed to be mechanisms for price discovery. That’s the theory. Markets are also supposed to be efficient. Millions of buyers and sellers, each acting on their own information, come together and arrive at a price. That price is supposed to reflect supply, demand, ri ...  Show more

I was recently speaking with an investor who was looking at the purchase of an agricultural property. During the discussion, a question came up that applies not only to farms, but to many types of real estate.What is the property actually worth?At first, that sounds like a simple ...  Show more

As developed markets heal from the pandemic, labor force participation has recovered in some areas faster than others, so how will a return to work impact the broader economy in places like the U.K. and the U.S.? U.S. Economist Julian Richers and European Economist Markus Guet ...

In the wake of the Great Financial Crisis, the work of John Maynard Keynes experienced a revival, as people sought answers to the problem of sluggish growth. In this cycle, sluggish growth isn't the problem. If anything, you hear business leaders and central bankers talking about ...  Show more

The US economy has so far withstood the effects of higher interest rates a lot better than expected. Unemployment is still at historic lows, even while inflation has cooled and the Federal Reserve has hiked rates for about 18 months. That's not how things are supposed to work acc ...  Show more