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Paul A. Volcker ’49, Former Federal Reserve Chairman, Dies at 92

Paul A. Volcker ’49, a formidable force in U.S. government who led the Federal Reserve to quell inflation in the late 1970s and early 80s, died on…

Politics & Polls #157: How Economists Attained Power in the Modern Era Featuring Binyamin Appelbaum

Economists shape conversations on topics ranging from business to politics, and their influence is widely felt; the Federal Reserve, trade…

Starbucks coffee

New Industrial Revolution Sparked by Technology Gives Power to Service, Retail, Wholesale Industries

The United States is experiencing a new type of industrial revolution, one in which businesses outside of manufacturing are harnessing the power of…

Politics & Polls #147: Reagan’s Tax Cut Revolution Featuring Monica Prasad

In the 1980s, supply-side economics became a rallying cry of conservative politicians. This macroeconomic theory posits that lower taxes and…

Inequality Gap Grew Before the Great Recession and After, Study Finds

The Great Recession hit Americans across the socioeconomic spectrum, with some still working to recover economically. Yet, the drivers behind these…

Project to Collect Real Portraits of American Life

Today, only half of children grow up to earn more than their parents, as opportunities for upward mobility continue to decline. Meanwhile, more than…

‘Working Rich’ Prevail Among Today’s Top Earners

Many blame idle millionaires for the rise in income inequality, but today’s top earners are actually the “working rich,” according to a new working…

Q&A: Information, Democracy, and Autocracy: Transparency and Political (In)Stability

Americans seeking information about unemployment rates, wage growth and inflation can do so with the click of a button. But transparency of this kind…

Moll Receives 2017 Bernácer Prize

Politics & Polls #108: How Money Restricts Access to Political Office

Working-class citizens have been historically underrepresented in American politics.In this episode, Julian Zelizer and Sam Wang discuss the…

Q&A: EuroTragedy: A Drama in Nine Acts

In his new book, “EuroTragedy: A Drama in Nine Acts,” Ashoka Mody offers a historical narrative of how European leaders decided to adopt the euro as…

Great Recession Still Plagues Workers with Lower Lifetime Wages

Losing a job often leads to lower earnings that stretch long beyond the time of unemployment. Yet it’s hard to know exactly what causes these lower…

The One Percent by Gordon Lafer book cover

Politics & Polls #80: Are Corporations Remaking America?

The recently passed tax bill included a sizable tax break for many American corporations, slashed from 35 percent to 21 percent. While the tax cuts…

In India, Subtle Corruption Robs Villagers of Roads

Examining a major road-building program in India, researchers at Princeton University and the Paris School of Economics used an innovative technique…

Satellite Imagery Reveals Decline in ISIS Oil Production

Oil production by the Islamic State of Iraq and Syria (ISIS) steadily declined between 2014 and 2016, indicating that the group was financing itself…

Booms & Busts: How the 1980s Could’ve Predicted the Great Recession

Many argue the Great Recession could have been ameliorated through strategic policies, but the government ignored warning signs of coming economic…

Boost in Collateral, Rather Than “Feeling Richer,” Drives Consumers to Borrow as Home Prices Rise

When home prices rise, households tend to borrow and spend more. But economists have had trouble identifying exactly what causes that relationship…

WWS Reacts: Trump’s Tax Proposal

President Donald Trump released a nine-page outline of a tax plan last week, which included proposed tax cuts for corporations and individuals.

Balance Forgiveness Programs More Effective at Reducing Credit Card Debt Than Lowering Monthly Minimum Payments

According to data recently released by the Federal Reserve, the amount of outstanding debt that Americans hold — often in the form of credit card…

Felten, Krueger Join Rework America Task Force

Princeton professors Edward Felten and Alan Krueger will serve on a new task force aimed at transforming America’s labor market to a 21st century,…

Lower-Income Children Raised in Counties With High Upward Mobility Display Fewer Behavioral Issues, Perform Better on Cognitive Tests

Children who grow up in urban counties with high upward mobility exhibit fewer behavioral problems and perform better on cognitive tests, according…

Exposure to Violence Hinders Short-Term Memory, Cognitive Control

Being exposed to and actively remembering violent episodes — even those that happened up to a decade before — hinders short-term memory and cognitive…

Research

Revitalizing Detroit Requires Development of Specific Neighborhoods

Despite the relatively large number of employees working in downtown Detroit, the city continues to be afflicted by urban blight, surrounded by a…

Decrease in Lead Exposure in Early Childhood May Be Responsible for Drop in Crime Rate

Exposure to lead in the preschool years significantly increases the chance that children will be suspended or incarcerated during their school…

Deaton Testifies Before U.S. Senate on America’s Deadly Opioid Epidemic

Testifying before a Joint Economic Committee hearing in the U.S. Senate on June 8, Sir Angus Deaton, Dwight D.