A pair of economists, Mark Paul and Lina Moe, wrote last year for an advocacy group called the Climate and Community Project in a piece titled “An Economist’s Case for Restrictive Supply-Side Policy.
Professor Mark Paul joins Emma Vigeland on The Majority Report podcast, diving right into the inspiration for his piece on an Economic Bill of Rights (and his economic work as a whole) in seeing the richest nation in history make its citizens suffer through the 2008 financial crisis, both conceptualizing that wealth and why GDP doesn’t present the full picture of a country’s well being under capitalism.
“Progressives do not have the power — at least not yet — to win an economic bill of rights,” Mark Paul concedes. “To see poverty eradicated, progressives will have to continue pressing their case — via mass movements and grassroots organizing, over the dinner table, and in the public sphere.”
Rutgers professor Will Irving was less sanguine about the office market and the state’s economy. With respect to a hard or soft landing, he said, “it’s still a landing, and the landing that we’re seeing in New Jersey is a little ahead and a little harder than we’re seeing elsewhere.”
The strong job growth in December helped New Jersey end 2023 with a net gain of 69,600 jobs. By comparison, the state lost 303,600 jobs in 2020; added 265,600 jobs in 2021; and added 129,700 jobs in 2022; Rutgers University economist James W. Hughes said.
Dean Emeritus James W. Hughes talks about the rising cost of housing in NJ and what the future will bring.
“We know there is a shortage, a significant shortage of affordable housing in New Jersey, but the middle class is getting squeezed as well,” said Will Irving. “And it’s getting harder and harder for young families to afford to buy a house.”
Will Irving will present on the panel of industry experts discussing the connection between local economic trends and the state’s commercial real estate sector.
Dean Emeritus James W. Hughes said a key question now is whether the Fed’s interest rate hikes will create a soft landing with a slow-growth economy, or a hard landing that will “crash” the economy.
New Jersey’s unemployment rose sharply in 2023, leaving economic experts wondering whether a rocky road is ahead in the new year. The state unemployment rate climbed from 3.4% in January to 4.7% in November, according to the U.S. Bureau of Labor Statistics. November’s...