Brief Economic Genius History

I don't know how they did their survey, but according to an article I once read in a foreign academic journal, 97 percent of economists support free trade theory. The problem is most of the economists I know are opposed to the FTA with the United States; or, to be more precise, are opposed to the agreement in its current form, so I guess they make up the remaining 3 percent who didn't learn their economics right. The FTA is already more than the subject of debate about economics in Korea. It has become a political issue, and everyone is being forced to choose a position. Have you noticed how there is a clear taking of sides in the way the media covered the story of a working man who committed self-immolation in protest? That may be the fate of social science theory, but various economic theories are being degraded and used as tools for justifying political positions.

Follow up to Subprime article

You may have seen the recent Magazine article published relating to the Subprime housing market and wondered why is that important to an environmental website? There are myriad reasons, but the biggest of which is the understanding that any economic difficulties that our country experiences from this market meltdown over the next few years directly impacts our country's ability to make green changes to our lifestyle, and address all the issues in front of us. An economy in recession or depression has less capital to expend to make the necessary changes and preparations for the future. Combine these economic challenges with the upcoming oil challenges we are sure to experience and the result appears to be great difficulty for us in the future. Incorporating all the different aspects of the "green" initiative when you understand how the American economy works and what factors drive the economy forward will hopefully allow you to make more informed decisions.

G7 growth to moderate, OECD says

PARIS -- Economic expansion in the Group of Seven industrial nations is set to moderate, an OECD report released on Friday showed, signalling a weaker outlook for the United States, Germany and Japan.

Build Working-class Housing

A recent two-day series in The Day points out that the price for rental housing is too costly for many working people. The situation is far worse when it comes to home buying.

Based on the premise that a person should spend no more than one-third of a paycheck on housing, a full-time worker needs $14.23 an hour, about double the state's minimum wage, to cover the average cost of a modest one-bedroom apartment.

In reality, many families are spending half of their income, or more, to pay the rent.

According to state Department of Labor statistics, many of the fastest growing jobs in the state do not pay people enough to afford even a modest apartment. On average, a retail salesperson makes $13 an hour; a cashier, $9.67; a food service worker, $9.37; a security guard, $11.86; a home health-care aide, $12.50, the data say.

Pelosi Wins Recount

It is always hard to disagree with the final decision determining the EOW because all of the nominees actually deserve the award, or rather merit the dishonor, and certainly our wonderful U.S. Supreme Court one could argue long ago earned a career Enemy of the Century in two centuries. However, the behavior of millionairess Nancy Pelosi, the world traveler and tourist, would seem more deserving of the award this week. The total concept of this woefully misguided attempt to undermine the elected and constitutional executive branch of our government is certainly bad enough, but her lying about a message from the Israeli government to the butchers in Syria should gag any American. Further it should end Jewish Americans' electoral commitment to a Democratic Party that abuses them at every step but alas it probably will not.

South Korea still sending rice aid to North Korea

South Korea will offer North Korea rice aid even though Pyongyang may miss a deadline for shutting down its atomic reactor under an international disarmament agreement, a South Korean official said yesterday.

Top Asian officials voiced concerns earlier this week that the North was unlikely to meet the April 14 deadline because of glitches in the transfer of North Korean money in a Macau bank that had been frozen because of US allegations of money laundering.

The South "will give rice to the North as scheduled" after economic talks between the two countries set for April 18 to April 21 in Pyongyang, Vice Unification Minister Shin Eon-sang told reporters.

The North had requested 400,000 tonnes of rice from Seoul during high-level talks last month.

"The momentum for inter-Korean development should not be lost," Shin said.

Agilysys to Accelerate Growth as IT Solution Provider With Close ...

BOCA RATON, Fla. | Agilysys, Inc. (NASDAQ:AGYS) announced today it closed the sale of its KeyLink Systems Distribution Business assets to Arrow Electronics, Inc. Agilysys is now exclusively a leading provider of innovative IT solutions to the corporate and public sectors, with special expertise in select vertical markets, including retail and hospitality.

Arthur Rhein, Agilysys chairman, president and chief executive officer, said, "The close of the sale completes the strategic transformation we began in 2003 when we exited our former electronic components distribution business.

China Aims to Use Interest Rates

BEIJING -- China will boost the role of interest rates in controlling rapid economic growth and asset price increases, People's Bank of China Assistant Gov. Yi Gang said, raising the possibility of further interest-rate increases in the near term.