|
 |
EconNews Online is South-Western's service to provide summaries of the latest economics news stories. Review the brief summaries and, for stories of interest, select the full summary. |
| GOVERNMENT AND THE ECONOMY | |
| Title | Brief Summary |
|
|
Demographers used to think that the global fertility rate – the average number of children a woman will have in her lifetime – would fall below the population replacement rate by 2025. That’s already happened to about 45% of the global population. As a result, population growth will begin to shrink, but in some places of the world, population will actually decline. That may not be a great outcome. (Updated August, 2007) |
|
|
Africa, and especially Lesotho, has begun turning to textiles as a way of engineering economic growth around the continent. It has of late been insulated from competition with China as a result of some preferential trade agreements with the US. Can the economic growth continue without the trade sanctions? (Updated August, 2007) |
|
|
Portland, Oregon, is in an enviable position: The city is a leader in light rail urban transportation. In fact, its MAX system, begun over 20 years ago, is one of the country's largest systems with about 44 miles of track. Other cities are beginning to look at Portland's success, and are hoping to get on the successful train before it leaves the station. (Updated October, 2006) |
|
|
Britain has taxed property and stock shares for over two hundred years, and Parliament shows no signs of repealing it. A small tax, raising only about 0.8% of total government revenue, the stamp duty nevertheless has shown itself to be remarkably resilient over time. (Updated October, 2006) |
|
|
The Mexican government recently voted to strengthen existing antitrust laws to increase competition among firms. The new regulations should have a significant negative impact on local monopolies, opening the doors for competitive U.S. firms. (Updated June 2006) |
|
|
At this point, people who have been imprisoned have an increasingly difficult task to become productive members of society. And the discrimination is all legal. (Updated March 2006) |
|
|
Recent research indicates that a growing number of occupations require state licensing as a precondition for employment. In fact, twice as many people are now working in licensed positions than those working in unionized jobs, a big twist from 20 years ago. Why? (Updated March 2006) |
|
|
The last time the Federal government increased the minimum wage was in 1997, from $4.25 an hour to $5.15 an hour; subsequent attempts to increase it have stalled in Congress. Some states are now taking the initiative and raising their state minima instead of waiting for Federal legislation. (Updated February 2006) |
|
|
Government regulators suggest increasing roof strength standards on SUVs that were formerly considered smaller, family style vehicles and requiring them to meet the same roof strength standards as larger SUVs must meet. Now, vehicles that weigh 6,000 lbs. must meet the same standards as those that weigh up to 10,000 pounds. (Updated November 2005) |
|
|
In the wake of Hurricanes Katrina and Rita, agricultural commodity traders are still struggling to get their grains and soybeans to port to fulfill export contracts. But they can’t place all of the blame on Katrina. (Updated November 2005) |
|
|
Think about the benefits of being vaccinated against disease. Try to tally all of them up. Sound difficult? Two economists have tried to do just that, in a recently released study. (Updated November 2005) |
|
|
After New Orleans’ total destruction by Hurricane Katrina, debate arises over what to do with the city’s site. Some have suggested turning New Orleans into a Colonial Williamsburg-type city. Others have suggested giving residents $10,000 and a bus ticket elsewhere, abandoning the real estate to its inevitable home as an extension of the sea. Still others, including the government, have suggested rebuilding to return New Orleans back to its pre-hurricane status. (Updated October 2005) |
|
|
Responding to soaring gasoline and natural gas prices, the Hawaiian legislature has taken the "preventative" step of setting a cap on gasoline prices, effective 1 September. Over the last year, the price of crude oil has increased 55%, and natural gas prices are up over 80% from last year. (Updated November 2005) |
|
|
Since the early 1970s, the percentage of Americans who smoked has fallen from 37 percent to 22.5%; during the same period, the percentage of Americans over the age of 20 who are considered obese has increased from 14% to 30%. Is there a connection? (Updated September, 2005) |
|
|
The cost of installing solar panels on one's house has been slowly falling, and the government's been helping to reduce the price. (Updated August, 2005) |
|
|
Some state governments are considering imposing a tax on a number of cosmetic surgery procedures, from face-lifts to liposuction to Botox injections. This has drawn protests from plastic surgeons who argue that they will be adversely affected by such a tax. (Updated August, 2005) |
|
|
The amount of money people must pay to use particular roads in the US is increasing this year. On over a third of American toll roads, rates are increasing anywhere from 5% to 100%. (Updated May, 2005) |
|
|
Consumer watchdog groups have filed suit against some of the biggest funeral home chains and the top U.S. casket maker, arguing that the organizations have conspired to inflate the casket costs. (Updated June, 2005) |
|
|
The U.S. Justice Department is investigating proposed plans by some major newspaper publishers to buy additional newspapers. (Updated April, 2005) |
|
|
Beginning with the 2005-06 academic year, the government seeks to save approximately $300 million by giving out smaller Pell Grants to recipients, and to eliminate funding for some prospective students. (Updated March, 2005) |
|
|
Southwest Airlines can fly anywhere it wants, as long as it's not more than one state away from its home airbase. Or so says the Wright Amendment. (Updated February, 2005) |
|
|
Donated organs are in short supply, and governments think they have a partial solution to the problem: offer tax breaks to donors." (Updated February, 2005) |
|
|
: Europeans have always
chosen in favor of less work and more leisure. Compared to U.S. workers,
European employees work fewer hours in the week and take more time for vacation.
The average number of vacation days in the US is 12 days, while in Germany
the average is 30 days, and in France it is 25 days. However, EU nations
are discovering that fewer hours worked does not translate into more workers
working, or into greater competitiveness globally. (Updated August, 2004) |
|
|
New York City is raising
city revenues by selling more "taxi medallions," the little tokens
(literally) that are required of all owners of taxicabs that serve the city. (Updated June, 2004) |
|
|
Pharmaceutical giant
Abbott Laboratories has decided to increase the price of its drug Norvir,
a critical component in AIDS drug "cocktails," from $1500 annually
to $7800. Consumer and AIDS advocates argue that this is price gouging at
its most extreme. (Updated June, 2004) |
|
|
While many politicians
favor a new tax on gasoline to raise revenue and increase fuel standards
at the same time, few have actually introduced measures to do so. Detroit
auto manufacturers are supporting the idea of a $0.50 increase in the gas
tax, however, as a means of instilling greater fuel economy in its automotive
fleets. (Updated June, 2004) |
|
|
A new book co-written
by an economist and a law professor takes issue with the conventional notion
of cost/benefit analysis, arguing that it is rigged in favor of lower regulation. (Updated April 7, 2004) |
|
|
While the Bush Administration
remains steadfast against any increases in carbon emissions regulations,
some energy firms are increasingly recognizing that global warming is a
significant problem for companies and their shareholders. (Updated May, 2004) |
|
|
Brazilian parents
who make sure that their children stay in school and get regular medical
checkups now qualify for monthly cash payments. The goal is to ensure that
families are investing in the future of their children, rather than having
the children work during the day. (Updated February, 2004) |
|
|
Japan's highway system
is made up entirely of toll roads. The only problem: The tolls are too high
for people to want to use the roads. (Updated October 17, 2003) |
|
|
In Shanghai, bamboo,
the staple food of pandas, is hard to find and is expensive. Government
subsidies to zoos have been reduced. Zoos are trying to raise money in other
ways and are accepting donations of bamboo. (Updated November 1, 2000) |
|
|
Sotheby's president
has pleaded guilty to fixing commission fees in a conspiracy with Christie's
auction house. They also agreed not to make charitable donations to potential
sellers, and not to give interest-free loans to sellers. The Department
of Justice emphasized it would prosecute price-fixing wherever it occurred. (Updated November 1, 2000) |
|
|
A national commission
is recommending that there should be no new internet taxes, thereby benefiting
consumers and "the new economy". However, some members are concerned that
sales tax revenues will be reduced, and traditional retailers will be disadvantaged. (Updated May 1, 2000) |
|
|
Certain grocery and
drug stores in affluent New York suburbs are facing a lawsuit accusing them
of underpaying deliverymen who carry shopping home for customers. They should
be paid $354 for their 69-hour weeks, but in fact make $60 to $120. (Updated March 1, 2000) |
|
|
The water around the
Florida Keys is polluted. The cause is antiquated sewer lines, which have
not kept pace with a rising population and tourism. The Key West City Commission
is asking voters to approve borrowing to fund a new sewer system. (Updated December 1, 1999) |
|
|
Waterway accidents are
increasing due to increases in the number of boats, water rage, drunk-driving,
inexperience, lack of regulation, and decreased Coast Guard resources. In
response, harbors are increasing patrols and sobriety checks and states
are requiring licenses and insurance. (Updated November 1, 1999) |
|
|
Anti-smoking campaigns
and higher cigarette prices are causing cigarette sales to fall in Florida.
As a result, the state's cigarette tax revenues are falling, with the effect
that local governments are receiving smaller transfers from the state. (Updated October 1, 1999) |
|
|
The European Union has
banned duty-free purchases of alcohol, cigarettes and other goods on air
and sea journeys within the Union. The restoration of taxes is expected
to lead to losses of revenue for whisky producers and ferryboats among others.
(Updated August 1, 1999) |
|
|
Corporate Average Fuel
Economy rules require each auto maker to sell a mix of vehicles that meets
a minimum fuel efficiency standard. Some foreign producers of large cars
treat the fines as a cost of doing business, while US firms try to avoid
being prosecuted because of possible lawsuits from angry shareholders. (Updated August 1, 1999) |
|
|
American Airlines has
been accused by the federal government of engaging in predatory pricing
in order to force low-cost competitors out of certain markets. American
counters that it was only trying to offer competitive prices. (Updated July 1, 1999) |
|
|
Alan Greenspan testified
to Congress that the minimum wage should not be raised. While employers
might be willing to pay it now, later, if the economy slows, they would
lay off less productive minimum-wage workers, especially teenagers. (Updated April 1, 1999) |
|
|
The Mexican government
is planning to end subsidies on tortilla production and to remove price
controls. There is skepticism whether the government will be able to save
any money as a result. (Updated February 1, 1999) |
|
|
Congress has been considering
giving health maintenance organization patients more power. This has led
interest groups to spend huge amounts of money on lobbying, advertising
and political support. (Updated January 1, 1999) |
|
|
Construction fees are
levied in parts of Florida to help pay for congestion costs and transportation
improvements, but in St. Petersburg, businesses are being deterred at a
time when the City wants to generate more employment opportunities. (Updated January 1, 1999) |
|
|
The U.S. Senate has
voted against an increase in the minimum wage. Lobbyists and Republicans
thought it was 'too much, too soon'. The political damage to the Republican
Party in forthcoming elections was expected to be reduced by the approval
of tax cuts. (Updated November 11, 1998) |
|
|
Some Russian territories
have introduced price controls to curb inflation and panic buying. However,
businesses are finding it hard to cover costs, and consumers are suffering
shortages as goods are sent to uncontrolled markets. (Updated November 11, 1998) |
| Return to EconNews Topic Index | Return to Economics Resource Center |
©1998-2004 South-Western. All Rights Reserved webmaster