Employment

The New Industrial Policy

Dr. Tiemann takes a look at three specific instances of actions relating to U.S. industry which suggest that Trump is making a dramatic shift in both the style and substance of national industrial policy and answers the question of what these say about the type of Industrial Policy we can expect to see out of the Trump […]

Tom Brady’s Victory Pumps up Organized Labor

Overturning NFL Commissioner Roger Goodell’s imposition of a four-game suspension on Patriots uber-star quarterback Tom Brady provides organized labor with a bigger gain from the ruling than Patriots fans received.  Leaders of organized labor should see in the ruling a strengthening of both the role of collective bargaining agreements and protections for workers facing arbitrary and capricious […]

Growth in the Age of Cheap Capital

This note helps readers understand how corporate management thinks about and makes deliberate choices about their capital structure, depending upon market conditions, discount rates, level of employment in the economy and other factors. A refresher on Modigliani and Miller, and assessment of why companies appear to be doing better yet unemployment remains high.

Dude, Where’s my Pension?

The bankruptcy filings of Northwest, Delta and Delphi reveal some of the pitfalls and perils that have emerged in the historically but possibly transitioning "paternalistic" system of planning for retirement benefits in the U.S. Discusses causes for the changes, impact on the Pension Benefits Guaranty Corporation and impacts on employers and employees.