Breaking News, Business, Financial and Economic News, World News from EconoTimes

Become a contributor

Bookmark Econotimes

Wed, Apr 24, 2024 04:00 AM All times are UTC

Follow Series

©Econometrics LLC . All Rights Reserved.

Steven Pressman

Emeritus Professor of Economics and Finance, Monmouth University

Steven Pressman is Emeritus Professor of Economics and Finance at Monmouth University in West Long Branch, New Jersey. In addition, he serves as Associate Editor of the Review of Political Economy. His main research areas are poverty and income distribution, post-Keynesian macroeconomics, and the history of economic thought. Over the past three decades, Pressman has published more than 170 articles in refereed journals and as book chapters, and has authored or edited 18 books, including Understanding Piketty’s Capital in the 21st Century (Routledge, 2015). A New Guide to Post Keynesian Economics (Routledge, 2001), Alternative Theories of the State (Palgrave Macmillan, 2006), and 50 Major Economists (Routledge, 2013), which has reached its third edition and has been translated into five different languages. He is a frequent contributor to newspapers and regularly appears on TV to discuss economic issues.

Why America has a debt ceiling: 5 questions answered

Jul 24, 2021 05:16 am UTC| Economy

Another big fight is brewing over the U.S. debt ceiling, which is a statutory limit on how much the government can borrow to pay its bills. In an interview, Senate Minority Leader Mitch McConnell said Republicans wont...

The debt ceiling and why we should kill it: 5 questions answered

Jul 21, 2019 12:15 pm UTC| Insights & Views Economy

Editors note: The U.S. government maxed out its national credit card in March and has been moving money around ever since to avoid running out of cash. Very soon the Treasury Department will reach the limits of this...

The US economy likely just entered its longest ever expansion – here's who benefited in 3 charts

Jul 03, 2019 21:07 pm UTC| Insights & Views Economy

The U.S. economy likely surpassed an important milestone last month: Americans are now experiencing the longest economic expansion in the nations history, assuming the data still being collected bears this out. This is...

Stumped by the stock market slump? Start by picturing a used car dealership

Dec 24, 2018 07:54 am UTC| Insights & Views Business

Stocks have been slumping on a variety of concerns, from President Donald Trumps ongoing trade war with China to worries about an economic slowdown and rising interest rates. Given the many factors driving shares up or...

2 economic policies likely to change with Democrats in control of House

Nov 08, 2018 17:23 pm UTC| Insights & Views Economy

Perhaps the biggest surprise in the midterm elections was that, unlike 2016, there wasnt one. Polls and pundits expected Democrats would take control of the House and Republicans would keep the Senate, and thats exactly...

GOP tax plan doubles down on policies that are crushing the middle class

Dec 20, 2017 18:06 pm UTC| Insights & Views Politics

The U.S. middle class has always had a special mystique. It is the heart of the American dream. A decent income and home, doing better than ones parents, and retiring in comfort are all hallmarks of a middle-class...

Poor and middle-income families need a better way than 529s to save for college

May 27, 2017 02:57 am UTC| Insights & Views Economy

A college education is increasingly necessary for success in todays economy. Its also increasingly expensive. Americans with a college degree earn, on average, US$1 million more over the course of their lives than those...

1 2

Economy

The idea that US interest rates will stay higher for longer is probably wrong

The 0.4% rise in US consumer prices in March didnt look like headline news. It was the same as the February increase, and the year-on-year rise of 3.5% is still sharply down from 5% a year ago. All the same, this modest...

Impact of Iran-Israel conflict on Stocks, Gold and Bitcoin

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation,...

Japan Posts 7.7% Growth in Machinery Orders

In a striking development that looks set to invigorate Japans economic prospects, a key gauge of capital spending in the country has seen its most significant jump in over a year. According to Cabinet Office data released...

Why Africa can be the beating heart of South Korea’s technology industry

Tshepo Ncube, Head: International Coverage and Bhavtik Vallabhjee, Head: Power, Utilities Infrastructure at Absa CIB reflect on their recent visit to South Korea, examining why investors in the region have their eyes set...

How cuts to marginal income tax could boost the UK’s stagnant economic growth

The British prime minister recently claimed the UK economy has turned a corner. Rishi Sunak said inflation figures were encouraging, and proclaimed that 2024 would be the year Britain bounces back. According to his...

Politics

US Commerce Secretary Asserts Huawei Chip Lag, Affirms Export Control Success

In an interview on CBS News 60 Minutes, Commerce Secretary Gina Raimondo stated that the latest Huawei Mate 60 Pro phones chip remains significantly behind U.S. technology despite being the most advanced from China. She...

Putin’s Russia: first arrests under new anti-LGBT laws mark new era of repression

Just over three decades after Russia decriminalised homosexuality in 1993, three people have been arrested and charged under the countrys harsh new anti-LGBT laws and could face ten years in prison for membership of an...

Nvidia RTX 4090D Embroiled in US-China Tech Rivalry; South Korea Navigates Chip Export Dilemma

The U.S. government has tightened export restrictions on high-performance semiconductor chips to China, including the Nvidia RTX 4090D, and is urging South Korea to enforce similar curbs, marking a significant escalation...

Canada needs a national strategy for homeless refugee claimants

One year after the federal government closed Roxham Road, refugee claims in Canada continue to increase: there were 143,785 in 2023 compared to 91,730 in 2022. The surprise announcement in March 2023 to modify Canadas...

Who will Trump pick as his running mate?

Being second in line for leadership of the most powerful country in the world is not an easy job. But for Mike Pence, vice president under Donald Trump, things were even harder than usual. As insurrectionists descended...

Science

Peter Higgs was one of the greats of particle physics. He transformed what we know about the building blocks of the universe

Peter Higgs, who gave his name to the subatomic particle known as the Higgs boson, has died aged 94. He was always a modest man, especially when considering that he was one of the greats of particle physics the area of...

Could a telescope ever see the beginning of time? An astronomer explains

The James Webb Space Telescope, or JWST for short, is one of the most advanced telescopes ever built. Planning for JWST began over 25 years ago, and construction efforts spanned over a decade. It was launched into space on...

US media coverage of new science less likely to mention researchers with African and East Asian names

When one Chinese national recently petitioned the U.S. Citizenship and Immigration Services to become a permanent resident, he thought his chances were pretty good. As an accomplished biologist, he figured that news...

If life exists on Jupiter’s moon Europa, scientists might soon be able to detect it

Europa is one of the largest of more than 90 moons in orbit around the planet Jupiter. It is also one of the best places to look for alien life. Often termed an ocean world by scientists, observations to date strongly...

Exploding stars are rare but emit torrents of radiation − if one happened close enough to Earth, it could threaten life on the planet

Stars like the Sun are remarkably constant. They vary in brightness by only 0.1% over years and decades, thanks to the fusion of hydrogen into helium that powers them. This process will keep the Sun shining steadily for...

Technology

Hong Kong Cracks Down on Crypto Scams as FTX Claims Ignite Market Surge

Hong Kongs Securities and Futures Commission has warned against two crypto trading platforms, CBEX Group and Bitget Pro, over suspected fraudulent activities, just as the market sees a surge amid FTX bankruptcy...

SEC Postpones Grayscale's Ethereum ETF Decision Amid Tighter Crypto Scrutiny

The SEC has once again delayed Grayscales application for a spot Ethereum ETF, pushing the decision to June 23 as it intensifies its examination of cryptocurrency ETFs. This marks another delay setback affecting major...

Bitcoin Surges Past Tesla in Five-Year Gains, Sparks New Interest in ETFs

For the first time since 2019, Bitcoin has outperformed Teslas stock, marking a significant milestone as it becomes the ninth-largest asset globally. Despite Teslas decline, Bitcoin soared 139% last year, bolstered by...

New Crypto Whale Snags 237.8 Billion SHIB Following Key Shiba Inu Blockchain Announcement

Shortly after Shiba Inu announced securing $12 million for a new layer-3 blockchain project, a new whale acquired 237.8 billion SHIB, stirring the crypto community and fueling speculation about the coins future. Massive...

Crypto.com's Launch in South Korea Stalled by AML Regulatory Concerns, Postponement Announced

Crypto.com has delayed its much-anticipated launch in South Korea after an emergency inspection by local regulators revealed issues with its anti-money laundering measures, forcing the cryptocurrency exchange to reassess...