by on December 29, 2017
Development aid has an urban bias. The role of aid in Africa has been a controversial issue over the years, with economists like Dambisa Moyo even arguing against it, due to questions surfacing around its effectiveness in economic growth and poverty reduction. A new research paper from Virginia Tech now delves deeper into this issue, noting that aid doesn’t even flow into poorer areas within countries. Looking at development projects commissioned by the World Bank and the African Devel...
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by on February 10, 2018
Protesters rallying for a DACA bill on Capitol Hill last December. Economist Francesc Ortega says the economy would benefit if Congress protected "Dreamers" from deportation.  THE ISSUE There are approximately 3 million residents of the United States who were brought here as children and whose parents do not have legal residence. These DREAMers account for 1.3 percent of the population. About 1.6 million of these individuals meet the eligibility requirements for DACA, the Deferred Ac...
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by on May 30, 2018
Wall Street’s long campaign to chip away at the toughest trading restriction imposed on banks after the financial crisis is finally paying off under President Donald Trump. The Federal Reserve Board, now led by Trump appointees, on Wednesday took the most concrete step yet to roll back the Volcker Rule, which was key to Washington’s efforts to make the industry safer after the 2008 meltdown. Fed governors voted 3-0 to seek comment on proposed changes, kicking off an administrative process...
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by on May 5, 2018
Protests against a new fiscal plan highlight just how turbulent the island’s political and economic circumstances have become. A scene from recent protests in Puerto Rico Across the globe, strikes and protests are regular features of each May Day, which marks International Workers’ Day. Sometimes, these protests function as pressure valves, an opportunity for people in the international working classes to air grievances and demand better conditions. But other times, the demonstrations ...
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by on December 30, 2017
A Turkana woman carries water on her head before attending a drought and peace meeting in Lobei village of Turkana district in northwest Kenya. The Pineapple Fund, a brand new charity project set up to give away an anonymous donor's $86 million of bitcoin to good causes, just donated $5 million to sponsor unconditional cash transfers to people in Kenya, Uganda and Rwanda living in extreme poverty, according to a Reddit post from the fund's founder, who operates under the name of Pine. The...
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by on February 10, 2018
The Department of Homeland Security—which awarded over $23 billion in contracts, grants, and other federal assistance in fiscal year 2017—needs to improve the way it keeps track of risky awardees, according to a recent report by the agency’s Inspector General. The watchdog concluded the Department’s suspension and debarment policies and practices are falling short, making it more difficult for the agency to ensure taxpayers’ money isn’t lost to fraud, waste, and abuse. Federal agencies use su...
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by on June 10, 2018
They’re calling on the Government Accountability Office to look into the matter. Sen. Kirsten Gillibrand listens during a news conference on Capitol Hill. Even as the #MeToo movement shines a light on the pervasive problem of sexual harassment, there’s still little known about the economic costs associated with it. How much do workers and companies lose from job turnover, for example? What about the value of ideas that could have been generated if people had stayed in certain indust...
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by on May 19, 2018
New York Governor Andrew Cuomo, center, speaks during a news conference with Senate Democratic Conference Leader Andrea Stewart-Cousins, D-Yonkers, left, and Independent Democratic Conference Leader Sen. Jeff Klein, D-Bronx, right, Wednesday, April 4, 2018, in New York Nearly 40 legislative staff members who worked for the Independent Democratic Conference or its members lost their jobs after the breakaway group rejoined the mainline Democratic Conference, according to an analysis of the ...
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by on January 14, 2018
Bumper-to bumper, horn-honking traffic through Manhattan streets is about as New York as bagels and Broadway. A plan to ease that problem is tapping into another mainstay of city life: high driving tolls. The idea, called “congestion pricing,” involves using electronic tolling technology to charge fees to vehicles entering the most heavily trafficked parts of town during certain hours. Some big cities already do it, including Singapore, Stockholm and London, where it can cost more than...
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by on February 16, 2018
On the campaign trail in 2016, Donald Trump promised to fill his Cabinet with the "best people in the world." As President, Trump has indeed hired a fleet of high-flyers -- though not in the way most voters might have hoped. Over the past year, a series of top administration officials have been caught out, shamed and, in the case of former Health and Human Services Secretary Tom Price, forced to resign over profligate travel spending. The latest revelation of unseemly business emer...
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by on June 13, 2018
Federal Reserve Chair Jerome Powell is presiding over a sea change in US policy. The US Federal Reserve has voted to raise the target for its benchmark interest rate by 0.25%, citing solid economic expansion and job gains. The widely-anticipated decision will lift the target for the central bank's benchmark rate to 1.75%-2%, the highest level since 2008. A majority of Fed officials also forecast two more rate rises this year, one more than previously predicted. The rise is part o...
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by on May 22, 2018
State tax breaks for the luggage designer to move less than a mile Away is a direct-to-consumer luggage company Sometimes companies are awarded financial incentives to relocate to New York from another state or overseas. But Monday a retailer was granted $4 million worth of state tax breaks for moving its headquarters from SoHo to … SoHo. The package was granted to Away, a two-year-old luggage designer co-founded by CEO Steph Korey, a former Warby Parker executive. The firm is headq...
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