The President(s) Fought the Law and the Law Won
Original Report
In our textbook, Modern Principles, Tyler and I emphasize that Congress and the President are subject to a higher law, the law of supply and demand. In an excellent column, Jason Furman gives a clear...
In our textbook, Modern Principles, Tyler and I emphasize that Congress and the President are subject to a higher law, the law of supply and demand. In an excellent column, Jason Furman gives a clear example of how difficult it is to fight the law of inelastic demand: …Today a given number of autoworkers can […] The post The President(s) Fought the Law and the Law Won appeared first on Marginal REVOLUTION.
Glass House Analysis
Labor market conditions shape the lived experience of millions of working families. When jobs are plentiful, workers have leverage to demand better wages and conditions; when they're scarce, the balance of power shifts to employers. This dynamic plays out daily in kitchen tables across America, where families make decisions about whether to ask for a raise, change jobs, or accept less-than-ideal conditions out of necessity.
The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.
Enjoyed this analysis?
Get the Glass House Briefing every morning—market news that actually makes sense, delivered free to your inbox.
No spam. Unsubscribe anytime.
More Stories
U.S. payrolls rose by 178,000 in March, more than expected; unemployment at 4.3%
Nonfarm payrolls were expected to increase by 59,000 in March, with the unemployment rate holding at 4.4%.
It’s not just patients who are sick of fighting health insurers. Doctors are frustrated, too.
The pattern is clear — insurance companies get rewarded for their ability to profit from system complexity.
Stock futures and bitcoin slip, Treasury yields climb, as hot jobs report raises more questions about Fed rate cuts
Stock futures have slipped while Treasury yields pressed higher during Friday’s holiday trading session after a hotter-than-expected jobs report raised more questions about whether the Federal...
NEC’s Hassett Sees Positive Momentum Behind Jobs Report
National Economic Council Director Kevin Hassett discusses the policy points he sees supporting the labor market as the US added 178,000 jobs in March, with the unemployment rate falling to 4.3%....