William Nordhaus has been writing for four decades about climate change and the value of using prices to reduce carbon emissions. His research shows that raising prices through, say, a carbon tax, is a far more effective and efficient way to lower carbon emissions than direct government controls on the quantity of emissions through, say, regulatory limits on cars and power plants.
Gross domestic product declined 0.2 percent from the previous quarter in seasonally adjusted terms, compared with the preliminary 0.1 percent contraction estimate and a 1 percent expansion in the first quarter, Mexico’s national statistics institute reported on Friday. Non-seasonally adjusted GDP rose 2.6 percent from a year earlier.
Automation may soon affect even industries and jobs we thought were immune, so what should countries do to prepare for those left jobless and behind? Bill Gates recently offered a simple solution: Tax the use of robots. He argues that such a tax would both “temporarily slow down the spread of automation” and fund social safety net programs for those who lose their jobs to technology.
U.S. employers added 103,000 jobs in March, and the nation’s unemployment rate stayed the same at 4.1 percent, according to data released Friday by the Labor Department. Meanwhile, average hourly pay for workers rose 2.7 percent from a year earlier, to $26.82 from $26.11.
March marked the 90th straight month of U.S. job growth, the longest such streak on record. Still, gains since the 2007–09 recession have been far from evenly spread across industries.