Banks’ dominance of financial transactions has perpetuated a system that is relatively slow and expensive. But change is coming.
Beaconomics
Where COVID-19 case and mortality rates are highest
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By both yardsticks, Westchester County has suffered the most severe outbreak. The rates are much lower here.
Economy & Business
An enduring legacy
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Kodak’s employment has plunged from its 1982 peak of 60,400 to about 1,300. Yet that employment number vastly understates Kodak’s contribution to the local economy today.
Beaconomics
The impact of persistently low rates of return
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The result of falling real interest rates has been increased risking taking by public pension fund investment managers and others.
Beaconomics
What? Low inflation is a problem?
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No one wants a return to double-digit inflation. But low inflation can slip into deflation, which increases the risk of a downturn.
Beaconomics
Economists’ inflation conundrum
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Economic changes such as the growth of free services make our “tape measure” of price movements—traditional inflation statistics—unreliable.
Beaconomics
Rochester’s languishing economy
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Over nearly two decades, the nation’s large metros as a group have outpaced Rochester’s job creation. And they still do.
Beaconomics
Journalism’s profound decline at the local level
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Outside the nation’s 10 largest metro areas, the decrease in the ranks of reporters has been dramatic.
Beaconomics
Trade war: The stakes for Rochester
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Why put at risk the substantial income and tens of thousands of local jobs that global trade generates in the Rochester region?
Beaconomics
Turn up the heat: It’s worth the inflation risk
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Stimulating the economy despite historically low unemployment may open the door for discouraged and marginalized workers to get back into the game. This would be good for Rochester, and for the nation.
Beaconomics
Modern Monetary Theory: voodoo economics for the left
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A growing number of progressive politicians have embraced a line of economic thinking that says debt and deficits don’t matter. But is “just print money” the right way to build a strong economy?