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So when did the Anthropocene actually start? It is difficult to put a precise date on a transition that occurred at different times and rates in different places, but it is clear that in 1750, the Industrial Revolution had barely begun but by 1850 it had almost completely transformed England and had spread to many other countries in Europe and across the Atlantic to North America. We thus suggest that the year AD 1800 could reasonably be chosen as the beginning of the Anthropocene

The result of these and other energy-dependent processes and activities was a significant increase in the human enterprise and its imprint on the environment. Between 1800 and 2000, the human population grew from about one billion to six billion, while energy use grew by about 40-fold and economic production by 50-fold [55].

Only by 1850 did the CO 2 concentration (285 ppm) reach the upper limit of natural Holocene variability and by 1900 it had climbed to 296 ppm [58], just high enough to show a discernible human influence beyond natural variability. Since the mid-twentieth century, the rising concentration and isotopic composition of CO 2 in the atmosphere have been measured directly with great accuracy [60], and has shown an unmistakable human imprint.

The fraction of the land surface devoted to intensive human activity rose from about 10 to about 25–30% [56]

The human enterprise switched gears after World War II. Although the imprint of human activity on the global environment was, by the mid-twentieth century, clearly discernible beyond the pattern of Holocene variability in several important ways, the rate at which that imprint was growing increased sharply at midcentury. The change was so dramatic that the 1945 to 2000+ period has been called the Great Acceleration

What finally triggered the Great Acceleration after the end of World War II? This war undoubtedly drove the final collapse of the remaining pre-industrial European institutions that contributed to the depression and, indeed, to the Great War itself. But many other factors also played an important role [55,61]. New international institutions—the so-called Bretton Woods institutions—were formed to aid economic recovery and fuel renewed economic growth. Led by the USA, the world moved towards a system built around neo-liberal economic principles, characterized by more open trade and capital flows. The post-World War II economy integrated rapidly, with growth rates reaching their highest values ever in the 1950–1973 period.

That didn’t give me instant access to wealthier friends, but it was still a small-enough town that public school did.

Nearly all my acquaintances were better off. This meant that by sheer virtue of seeing how other kids acted in school and going to their homes, I saw what middle class looked like — what “better” was.

it was my friendship with one family that gave me a window into how I might attain it. Alison’s parents weren’t ostentatiously wealthy, but their lives held all the hallmarks of middle-class aspiration. Books, games and art projects were scattered around the family room; they read newspapers and magazines, and they discussed current events. They not only set a high bar for their children but also reinforced their children’s ability to meet it, daily. Good grades were a baseline. Extracurriculars were not optional. Success was treated as inevitable — not some lucky break, as it had been among my class of origin.

acting “right” was the secret sauce, and that was heavily dependent on knowing what was considered acceptable and unacceptable even in normal conversations with other people. They didn’t burp the alphabet, like my sister could, or tell crass jokes, like I did. Money wasn’t discussed.

So, I memorized these behaviors and ditched my poverty tells until I figured out my own values

Middle class meant napkins neatly folded in laps, pleases and thank yous unrolling sincerely and automatically.

my mother certainly did. But working two jobs and the exhaustion of raising four girls alone made those conditions impossible to create to the degree this two-parent family could.

Bringing up my con-man father whose name I didn’t even know, or the struggles of my less-educated kin? Not great table talk. Learning when not to talk was a big hurdle.

You can still catch me eating bologna, and no study would ever convince me that growing up poor was a loss when I consider the resilience and gratitude it imparted.

it didn’t take a good SAT score to notice what I was supposed to act like, dress like, talk like, and seem like to make those friends, to improve my lot. The sooner I accomplished that, the sooner I realized no one knew what class I grew up in — unless I told them.

I have no doubt it was critical to succeeding, but it’s still not easy to admit to myself the extent to which I was willing to happily join in on that erasure all on my own. For all the study’s merits, that’s a cost it did not seem able to account for.

Friedman’s thought, she argues, is more complex and subtle than has been understood: He raised pressing questions about the market, individualism, and the role of the state that will be with us for as long as capitalism endures.

Just as important, his time at Chicago taught Friedman about the intertwining of political, intellectual, and personal loyalties. He became a regular in an informal group of graduate students and junior faculty trying to consolidate the department as a center of free-market thought

by the 1930s, the leading figures at the University of Chicago were deeply committed to what had become known as price theory, which analyzed economic behavior in terms of the incentives and information reflected in prices. The economists who left their mark on Friedman sought to create predictive models of economic decision making, and they were politically invested in the ideal of an unencumbered marketplace.

Friedman was also shaped by older traditions of economic thought, in particular the vision of political economy advanced by thinkers such as Adam Smith and Alfred Marshall. For them, as for him, economics was not a narrow social science, concerned with increasing productivity and efficiency. It was closely linked to a broader set of political ideas and values, and it necessarily dealt with basic questions of justice, freedom, and the best way to organize society.

His libertarian ethos helped seed the far more openly hierarchical social and political conservatism that fuels much of our present-day political dysfunction.

But his fundamental commitments were consistent. In his early work on consumption habits, Friedman sought to puncture the arrogance of the postwar Keynesian economists, who claimed to be able to manipulate the economy from above, using taxes and spending to turn investment, consumption, and demand on and off like so many spigots

Instead, he believed that consumption patterns were dependent on local conditions and on lifetime expectations of income. The federal government, he argued, could do much less to affect economic demand—­and hence to fight recessions—­than the Keynesian consensus suggested.

In 1946, Friedman was hired by the University of Chicago, where he shut down efforts to recruit economists who didn’t subscribe to free-market views.

He was also legendary for his brutal classroom culture. One departmental memo, trying to rectify the situation, went so far as to remind faculty to please not treat a university student “like a dog.” What had started as a freewheeling, rebellious culture among the economists in Room Seven wound up as doctrinal rigidity.

Evidence leads her to argue more pointedly that Rose (credited only with providing “assistance”) essentially co-wrote Capitalism and Freedom (1962).

Burns implicitly exposes some of the limitations of Friedman’s focus on the economic benefits of innate individual talent. He had more than nature to thank for producing associates of such high caliber, ready to benefit him in his career. Culture and institutions clearly played a large role, and sexual discrimination during the 1930s, ’40s, and ’50s ensured that professional paths were anything but fair.

The state, he acknowledged, would have to take some responsibility for managing economic life—­and thus economists would be thrust into a public role. The question was what they would do with this new prominence.

Almost as soon as the Second World War ended, Friedman began to stake out a distinctive rhetorical position, arguing that the policy goals of the welfare state could be better accomplished by the free market

in Capitalism and Freedom, Friedman made the case that the real problem lay in the methods liberals employed, which involved interfering with the competitive price mechanism of the free market. Liberals weren’t morally wrong, just foolish, despite the vaunted expertise of their economic advisers.

In a rhetorical move that seemed designed to portray liberal political leaders as incompetent, he emphasized efficiency and the importance of the price system as a tool for social policy

For Friedman, the competitive market was the realm of innovation, creativity, and freedom. In constructing his arguments, he envisioned workers and consumers as individuals in a position to exert decisive economic power, always able to seek a higher wage, a better price, an improved product

The limits of this notion emerged starkly in his contorted attempts to apply economic reasoning to the problem of racism, which he described as merely a matter of taste that should be free from the “coercive power” of the law:

Although he personally rejected racial prejudice, he considered the question of whether Black children could attend good schools—and whether, given the “taste” for prejudice in the South, Black adults could find remunerative jobs—less important than the “right” of white southerners to make economic decisions that reflected their individual preferences. In fact, Friedman compared fair-employment laws to the Nuremberg Race Laws of Nazi Germany. Not only was this tone-deaf in the context of the surging 1960s civil-rights movement; it was a sign of how restricted his idea of freedom really was.

s the conservative movement started to make electoral gains in the ’70s, Friedman emerged as a full-throated challenger of liberal goals, not just methods

He campaigned for “tax limitation” amendments that would have restricted the ability of state governments to tax or spend

n a famous New York Times Magazine essay, he suggested that corporations had no “social responsibility” at all; they were accountable only for increasing their own profit

Friedman’s free-market certainties went on to win over neoliberals. By the time he and Rose published their 1998 memoir, Two Lucky People, their ideas, once on the margin of society, had become the reigning consensus.

That consensus is now in surprising disarray in the Republican Party that was once its stronghold. The startling rise in economic inequality and the continued erosion of middle-class living standards have called into question the idea that downsizing the welfare state, ending regulations, and expanding the reach of the market really do lead to greater economic well-being—let alone freedom.

Friedman—despite being caricatured as a key intellectual architect of anti-government politics—had actually internalized an underlying assumption of the New Deal era: that government policy should be the key focus of political action. Using market theory to reshape state and federal policy was a constant theme of his career.

Still, Friedman—­and the libertarian economic tradition he advanced—­bears more responsibility for the rise of a far right in the United States than Burns’s biography would suggest. His strategy of goading the left, fully on display in the various provocations of Free to Choose and even Capitalism and Freedom, has been a staple for conservatives ever since

He zealously promoted the kind of relentless individualism that undergirds parts of today’s right, most notably the gun lobby. The hostile spirit that he brought to civil-rights laws surfaces now in the idea that reliance on court decisions and legislation to address racial hierarchy itself hems in freedom

The opposition to centralized government that he championed informs a political culture that venerates local authority and private power, even when they are oppressive

his insistence (to quote Capitalism and Freedom) that “any … use of government is fraught with danger” has nurtured a deep pessimism that democratic politics can offer any route to redressing social and economic inequalities.

They were offering nearly unlimited cheap debt to keep the wheels of finance turning, and when that didn’t help, the Fed began purchasing massive quantities of government debt outright.

Investors dumped whatever they could, including ostensibly “risk-free” U.S. Treasury securities. As a global dash for dollars unfolded, Treasurys were no longer serving as the market’s traditional shock absorbers, amplifying extreme turmoil on Wall Street.

By week’s end, the Dow had plunged more than 10,000 points since mid-February as investors struggled to get their arms around what a halt to global commerce would mean for businesses that would soon have no revenue.

“It was sheer, unadulterated panic, of a magnitude that was far worse than in 2008 and 2009. Far worse,”

The idea of shutting down markets was especially discouraging: “It was a profoundly un-American thing to contemplate, to just shut everything down, and almost fatalistic—that we’re not going to get out of this.”

nearly two years later, most agree that the Fed’s actions helped to save the economy from going into a pandemic-induced tailspin.

“My thought was—I remember this very clearly—‘O.K. We have a four-or-five-day chance to really get our act together and get ahead of this. We’re gonna try to get ahead of this,’” Mr. Powell recalled later. “And we were going to do that by just announcing a ton of stuff on Monday morning.”

It worked. The Fed’s pledges to backstop an array of lending, announced on Monday, March 23, would unleash a torrent of private borrowing based on the mere promise of central bank action—together with a massive assist by Congress, which authorized hundreds of billions of dollars that would cover any losses.

If the hardest-hit companies like Carnival, with its fleet of 104 ships docked indefinitely, could raise money in capital markets, who couldn’t?

on April 9, where he shed an earlier reluctance to express an opinion about government spending policies, which are set by elected officials and not the Fed. He spoke in unusually moral terms. “All of us are affected,” he said. “But the burdens are falling most heavily on those least able to carry them…. They didn’t cause this. Their business isn’t closed because of anything they did wrong. This is what the great fiscal power of the United States is for—to protect these people as best we can from the hardships they are facing.”

They were extraordinary words from a Fed chair who during earlier, hot-button policy debates said the central bank needed to “stay in its lane” and avoid providing specific advice.

To avoid a widening rift between the market haves (who had been given access to Fed backstops) and the market have-nots (who had been left out because their debt was deemed too risky), Mr. Powell had supported a decision to extend the Fed’s lending to include companies that were being downgraded to “junk” status in the days after it agreed to backstop their bonds.

Most controversially, Mr. Powell recommended that the Fed purchase investment vehicles known as exchange-traded funds, or ETFs, that invest in junk debt. He and his colleagues feared that these “high-yield” bonds might buckle, creating a wave of bankruptcies that would cause long-term scarring in the economy.

Mr. Powell decided that it was better to err on the side of doing too much than not doing enough.

, Paul Singer, who runs the hedge-fund firm Elliott Management, warned that the Fed was sowing the seeds of a bigger crisis by absolving markets of any discipline. “Sadly, when people (including those who should know better) do something stupid and reckless and are not punished,” he wrote, “it is human nature that, far from thinking that they were lucky to have gotten away with something, they are encouraged to keep doing the stupid thing.”

The breathtaking speed with which the Fed moved and with which Wall Street rallied after the Fed’s announcements infuriated Dennis Kelleher, a former corporate lawyer and high-ranking Senate aide who runs Better Markets, an advocacy group lobbying for tighter financial regulations.

This is a ridiculous discussion no matter how heartfelt Powell is about ‘we can’t pick winners and losers’—to which my answer is, ‘So instead you just make them all winners?’”

“Literally, not only has no one in finance lost money, but they’ve all made more money than they could have dreamed,” said Mr. Kelleher. “It just can’t be the case that the only thing the Fed can do is open the fire hydrants wide for everybody

Mr. Powell later defended his decision to purchase ETFs that had invested in junk debt. “We wanted to find a surgical way to get in and support that market because it’s a huge market, and it’s a lot of people’s jobs… What were we supposed to do? Just let them die and lose all those jobs?” he said. “If that’s the biggest mistake we made, stipulating it as a mistake, I’m fine with that. It wasn’t time to be making finely crafted judgments,” Mr. Powell said. He hesitated for a moment before concluding. “Do I regret it? I don’t—not really.”

“We didn’t know there was a vaccine coming. The pandemic is just raging. And we don’t have a plan,” said Mr. Powell. “Nobody in the world has a plan. And in hindsight, the worry was, ‘What if we can’t really fully open the economy for a long time because the pandemic is just out there killing people?’”

Mr. Powell never saw this as a particularly likely outcome, “but it was around the edges of the conversation, and we were very eager to do everything we could to avoid that outcome,”

The Fed’s initial response in 2020 received mostly high marks—a notable contrast with the populist ire that greeted Wall Street bailouts following the 2008 financial crisis. North Carolina Rep. Patrick McHenry, the top Republican on the House Financial Services Committee, gave Mr. Powell an “A-plus for 2020,” he said. “On a one-to-10 scale? It was an 11. He gets the highest, highest marks, and deserves them. The Fed as an institution deserves them.”

The pandemic was the most severe disruption of the U.S. economy since the Great Depression. Economists, financial-market professionals and historians are only beginning to wrestle with the implications of the aggressive response by fiscal and monetary policy makers.

Altogether, Congress approved nearly $5.9 trillion in spending in 2020 and 2021. Adjusted for inflation, that compares with approximately $1.8 trillion in 2008 and 2009.

By late 2021, it was clear that many private-sector forecasters and economists at the Fed had misjudged both the speed of the recovery and the ways in which the crisis had upset the economy’s equilibrium. Washington soon faced a different problem. Disoriented supply chains and strong demand—boosted by government stimulus—had produced inflation running above 7%.

because the pandemic shock was akin to a natural disaster, it allowed Mr. Powell and the Fed to sidestep concerns about moral hazard—that is, the possibility that their policies would encourage people to take greater risks knowing that they were protected against larger losses. If a future crisis is caused instead by greed or carelessness, the Fed would have to take such concerns more seriously.

The high inflation that followed in 2021 might have been worse if the U.S. had seen more widespread bankruptcies or permanent job losses in the early months of the pandemic.

an additional burst of stimulus spending in 2021, as vaccines hastened the reopening of the economy, raised the risk that monetary and fiscal policy together would flood the economy with money and further fuel inflation.

The surge in federal borrowing since 2020 creates other risks. It is manageable for now but could become very expensive if the Fed has to lift interest rates aggressively to cool the economy and reduce high inflation.

The Congressional Budget Office forecast in December 2020 that if rates rose by just 0.1 percentage point more than projected in each year of the decade, debt-service costs in 2030 would rise by $235 billion—more than the Pentagon had requested to spend in 2022 on the Navy.

its low-rate policies have coincided with—and critics say it has contributed to—a longer-running widening of wealth inequality.

In 2008, household wealth fell by $8 trillion. It rose by $13.5 trillion in 2020, and in the process, spotlighted the unequal distribution of wealth-building assets such as houses and stocks.

Without heavy spending from Washington, focused on the needs of the least well-off, these disparities might have attracted more negative scrutiny.

Finally, the Fed is a technocratic body that can move quickly because it operates under few political constraints. Turning to it as the first line of defense in this and future crises could compromise its institutional independence.

Step one, he said, was to get in the fight and try to win. Figuring out how to exit would be a better problem to have, because it would mean they had succeeded.

“We have a recovery that looks completely unlike other recoveries that we’ve had because we’ve put so much support behind the recovery,” Mr. Powell said last month. “Was it too much? I’m going to leave that to the historians.”

The final verdict on the 2020 crisis response may turn on whether Mr. Powell is able to bring inflation under control without a painful recession—either as sharp price increases from 2021 reverse on their own accord, as officials initially anticipated, or because the Fed cools down the economy by raising interest rates.

The effects of rising food prices have been felt unevenly around the world. Asia has been largely spared because of a plentiful rice crop. But parts of Africa, the Middle East and Latin America that are more dependent on imported food are struggling.

But economists and agricultural experts say that while these efforts help at the margin, there may be little the government can do to combat a phenomenon that is both complex and global.

In the United States, food prices rose 6.3 percent in December compared with a year ago, while the price of restaurant meals rose 6.0 percent and the price of meat, poultry, fish and eggs jumped 12.5 percent, according to the Bureau of Labor Statistics.

Joseph Siegle, the director of research at National Defense University’s Africa Center for Strategic Studies, estimated that 106 million people on the continent are facing food insecurity, double the number since 2018.

Overloaded shipping companies have been refusing to send their steel boxes to the Midwest to pick up agricultural products, instead preferring to ship them back to Asia to carry more lucrative cargo.

With both their costs and their sales prices increasing, many farmers are making similar margins to what they earned before, Mr. Edgington said. But “huge swings” in the price of corn, soybeans and fertilizer were still putting their finances at risk.

At the same time, the share of high school students who say they have had sexual intercourse has fallen 29 percent since 1991,

The share of female teens who did not use birth control the last time they had sex dropped by more than a third over the last decade, according to an analysis of government surveys by the Guttmacher Institute. The share using the most effective form, long-acting reversible contraception (delivered through an intrauterine device or arm implant), rose fivefold to 15 percent. The use of emergency contraception also rose.

“They’re going to school and seeing new career paths open,” said Melissa S. Kearney, an economist at the University of Maryland. “Whether they are excited about their own opportunities or feel that unreliable male partners leave them no choice, it leads them in the same direction — not becoming a young mother.”

Abortion does not appear to have driven the decline in teen births. As a share of teenage pregnancy, it has remained steady over the past decade,

If adolescent girls are more cautious with sex and birth control, what explains the caution? A common answer is that more feel they have something to lose. “There is just a greater confidence among young women that they have educational and professional opportunities,” Mr. Wilcox said.

t women in their mid-30s were nearly 25 percent more likely than men to have a four-year college degree, and at every educational level earnings had grown faster for women than men.

Skeptics see limits in the data and note that the payoff to education is growing.“I strongly disagree with the argument that teen births have no effect on social mobility,” said Isabel V. Sawhill of the Brookings Institution. “It’s a lot easier to move out of poverty if you’re not responsible for a child in your teenage years.”

The debate is more than academic. Some progressives worry that a narrow focus on preventing teen births will undermine broader anti-poverty plans and risks blaming adolescents for their poverty. Other see reducing poverty and teen births as complementary causes meant not to blame young women but empower them.

The basic driver is this: “Europe has an aging population that values its free time and social benefits over work and productivity. (This reduces labor force participation, innovation potential, and the economic growth of the continent.)

The eurozone economy grew about 6% over the past 15 years, measured in dollars, compared with 82% for the US, according to International Monetary Fund data. That has left the average EU country poorer per head than every US state except Idaho and Mississippi

If the current trend continues, by 2035 the gap between economic output per capita in the US and EU will be as large as that between Japan and Ecuador today

even in Smith’s figures, there is no Northern European economy that outperforms the US.

The US economy has grown 82% in fifteen years! Barring anything more than a mild recession, that means that we can expect the US economy to more than double by the time we hit 20 years from 2008. Isn’t that wonderful?

It’s not just a case of doubling the overall size of the economy. The increase in wealth has been widely distributed.

I was struck by a calculation by George Washington University’s Stephen Rose that he describes at a center-left newsletter called The Liberal Patriot

Deciding what is “middle class” versus “lower middle class” versus “upper middle class” is difficult, and every analysis sets up different cutoffs between these categories. But Rose sets a reasonable level, describing “upper middle class” as an income between $100,000 and $350,000

Using this measure, there was real growth in every rung of the economic ladder over the period from 1979 to 2019, with each ascending step having slightly higher percentage gain….

In brief, economic growth from 1979 to 2019 led more of the population to move up to higher social classes. As Table 1 shows, the bottom two categories—poor and near-poor plus lower middle class—went from a combined 49 percent to 29 percent

The size of the [core middle class] also declined, down from 39 percent to 31 percent over these years

These declines manifest themselves in a massive—and massively under-covered—growth of the [upper middle class], spiking from 13 percent in 1979 to 37 percent in 2019.

America has always thought of itself as a middle-class country. But we are rapidly becoming an upper-middle-class country

This is now the largest category, and at the rate we’re going, it will soon be an outright majority.

upper-middle-class people can afford more welfare-state spending, and they also have more access to education and, frankly, the luxury of agonizing over something other than our pocketbooks. It has been a long time since most Americans were concerned about how to put a roof over our heads, so we have moved on from “kitchen table” issues to concerns about values and status and self-image.

in this context, the Old Left welfare-state programs look, not merely unnecessary, but callous and cruel

the incentives created by welfare programs discourage work for the poor. But in a growing and thriving upper-middle-class country, this looks like a way to create a permanent underclass who are kept in poverty so we can congratulate ourselves on our compassion and generosity

some of this may also explain the right’s belligerent opposition to immigration. If we are becoming an upper-middle-class country, perhaps we are taking on some of the attitudes of a gated community that wants to keep out the riff-raff.

That’s because real people — and yes, even professional economists — tend to process the parallel rise of prices and wages in quite different ways.

In brief, researchers have found that we tend to internalize the gains due to inflation and externalize the losses. These different processes yield different emotional responses.

Let’s start with higher prices. Sticker shock hurts. Even as someone who closely studies the inflation statistics, I’m still often surprised by higher prices. They feel unfair. They undermine my spending power, and my sense of control and order.

younger folks — anyone under 60 — had never experienced sustained inflation rates greater than 5 percent in their adult lives. And I think this explains why they’re so angry about today’s inflation.

Even though wages tend to rise hand-in-hand with prices, we tell ourselves a different story, in which the wage rises we get have nothing to do with price rises that cause them.

But then my economist brain took over, and slowly it sunk in that my raise wasn’t a reward for hard work, but rather a cost-of-living adjustment

Internalizing the gain and externalizing the cost of inflation protects you from this deflating realization. But it also distorts your sense of reality.

The reason so many Americans feel that inflation is stealing their purchasing power is that they give themselves unearned credit for the offsetting wage rises that actually restore it.

in reality, higher prices are only the first act of the inflationary play. It’s a play that economists have seen before. In episode after episode, surges in prices have led to — or been preceded by — a proportional surge in wages.

While older Americans understood that the pain of inflation is transitory, younger folks aren’t so sure. Inflation is a lot scarier when you fear that today’s price rises will permanently undermine your ability to make ends meet.

Perhaps this explains why the recent moderate burst of inflation has created seemingly more anxiety than previous inflationary episodes.

More generally, being an economist makes me an optimist. Social media is awash with (false) claims that we’re in a “silent depression,” and those who want to make American great again are certain it was once so much better.

in reality, our economy this year is larger, more productive and will yield higher average incomes than in any prior year on record in American history

And because the United States is the world’s richest major economy, we can now say that we are almost certainly part of the richest large society in its richest year in the history of humanity.

The income of the average American will double approximately every 39 years. And so when my kids are my age, average income will be roughly double what it is today. Far from being fearful for my kids, I’m envious of the extraordinary riches their generation will enjoy.

Psychologists describe anxiety disorders as occurring when the panic you feel is out of proportion to the danger you face. By this definition, we’re in the midst of a macroeconomic anxiety attack.

Fresh estimates from the Congressional Budget Office this month said the U.S. labor force in 2023 had grown by 5.2 million people, thanks especially to net immigration

The sudden snapback in demand sent inflation soaring. Supply chain issues were a main reason prices rose quickly. But labor shortages posed a problem, too, and economists feared that rising wages — as employers scrambled to find workers — would keep price increases dangerously high.

he flow of migrants to the United States started slowing during the Trump administration, when officials took hundreds of executive actions designed to restrict migration.

Right before the pandemic, there were about 1.5 million fewer working-age immigrants in the United States than pre-2017 trends would have predicted, according to the San Francisco Fed. By the end of 2021, that shortfall had widened to about 2 million

But the economy overall wound up rebounding aggressively from the sudden, widespread closures of 2020, bolstered by historic government stimulus and vaccines that debuted faster than expected.

economy grow. But today’s snapshot still represents a stark turnaround from just a short time ago.

That’s because the labor force that emerged as the pandemic ebbed was smaller than it had been: Millions of people retired early, stayed home to take over child care or avoid getting sick, or decided to look for new jobs entirely

In the span of a year or so, employers went from having businesses crater to sprinting to hire enough staff to keep restaurants, hotels, retail stores and construction sites going. Wages for the lowest earners rose at the fastest pace.

About the same time, the path was widening for migrants to cross the southern border, particularly as the new Biden administration rolled back Trump-era restrictions.

Experts argue that the strength of the U.S. economy has benefited American workers and foreign-born workers alike. Each group accounts for roughly half of the labor market’s impressive year-over-year growth since January 2023

But the past few years were extremely abnormal because companies were desperate to hire.

lus, it would be exceedingly difficult for immigration to affect the wages of enormous swaths of the labor force,

“What it can do is lower the wages of a specific occupation in a specific area, but American workers aren’t stupid. They change jobs. They change what they specialize in,” Nowrasteh said. “So that’s part of the reason why wages don’t go down.”

In normal economic times, some analysts note, new immigrants can drag down wages, especially if employers decide to hire them over native-born workers. Undocumented workers, who don’t have as much leverage to push for higher pay, could lower average wages even more.

Particularly for immigrants fleeing poorer countries, the booming U.S. job market and the promise of higher wages continue to be an enormous draw.

“More than any immigration policy per se, the biggest pull for migrants is the strength of the labor market,” said Catalina Amuedo-Dorantes, an economics professor at the University of California at Merced. “More than any enforcement policy, any immigration policy, at the end of the day.”

Upon arriving in Denver in October, Santander hadn’t acquired a work permit but needed to feed his small children. Even without authorization, he found a job as a roofer for a contractor that ultimately pocketed his earnings, then one cleaning industrial refrigerators on the overnight shift for $12 an hour. Since receiving his work permit in January, Santander has started “a much better job” at a wood accessories manufacturer making $20 an hour.

But for the vast majority of migrants who arrive in the United States without prior approval, including asylum seekers and those who come for economic reasons, getting a work permit isn’t easy.

Federal law requires migrants to wait nearly six months to receive a work permit after filing for asylum. Wait times can stretch for additional months because of a backlog in cases.

While they wait, many migrants find off-the-books work as day laborers or street vendors, advocates say. Others get jobs using falsified documents, including many teenagers who came into the country as unaccompanied minors.

Still, many migrants miss the year-long window to apply for asylum — a process that can cost thousands of dollars — leaving them with few pathways to work authorization, advocates say. Those who can’t apply for asylum often end up working without official permission in low-wage industries where they are susceptible to exploitation.

College matriculation rates also rose through the recession as the opportunity cost of going to school fell

But much of the decline in labor force participation is that one thing that not even the most ambitious policy wonk could ever imagine reversing. That thing is time. Older countries work less.

If there is one thing that economists know, it is that market concentration drives prices up — and quality and innovation down.

hospitals raise prices by about 40 percent after the merger of nearby rivals.

Other studies have found that hospital mergers increase the number of uninsured in the vicinity. Still others even suggest that market concentration may hurt the quality of care.

recent evidence suggests that health care costs are not being driven by intensive use of high-tech procedures as much as by rising prices for even the most humdrum treatments, which are today among the most expensive in the world.

the rising health care spending of Americans under 65 in the last two years has been driven entirely by rising prices; not by more use. The unit price of inpatient care jumped 5.9 percent last year, while the price for outpatient services increased 9.6 percent.

Corporate America could help more. Large companies, like Wal-Mart Stores, Lowe’s and PepsiCo, have cut deals with hospitals like the Mayo Clinic or the Cleveland Clinic to provide specialized care, including cardiac care or spinal surgery, for all their workers across the nation. This will allow them to get around the market power of local hospitals. Others could follow their example.

The Affordable Care Act could help reduce prices too. Forced to compete on price, plans in the new health insurance exchanges will pressure medical providers to limit costs, much as H.M.O.’s did briefly in the 1990s. The “Cadillac tax” on high-end health plans will also encourage some companies to drop high-priced policies.

Merger activity has jumped in anticipation of the law’s coming fully into effect. “Hospitals want to maintain their revenue streams and enhance their bargaining leverage,” said Professor Gaynor. “This is a way to do so.”

evidence strongly suggests that party attachments have become increasingly polarized by both racial attitudes and race as a result of Obama’s rise to prominence within the Democratic Party.Specifically, Tesler and Sears found that voters high on a racial-resentment scale moved one notch toward intensification of partisanship within the Republican Party on a seven-point scale

Pasek and his collaborators found a statistically significant increase from 2008 to 2012 in “explicit anti-black attitudes” – a measure based on questions very similar those used by Tesler and Sears for their racial-resentment scale. The percentage of voters with explicit anti-black attitudes rose from 47.6 in 2008 and 47.3 percent in 2010 to 50.9 percent in 2012.

Republicans drove the change: “People who identified themselves as Republicans in 2012 expressed anti-Black attitudes more o

By 2012, the numbers had gone up. “The proportion of people expressing anti-Black attitudes,” they write, “was 32 percent among Democrats, 48 percent among independents, and 79 percent among Republicans.”

the shifts described by Tesler and Pasek are an integral aspect of the intensifying conservatism within the right wing of the Republican Party. Many voters voicing stronger anti-black affect were already Republican. Thus, in 2012, shifts in their attitudes, while they contributed to a 4 percentage point reduction in Obama’s white support, did not result in a Romney victory.

Not only is the right risking marginalization as its views on race have become more extreme, it is veering out of the mainstream on contraception and abortion, positions that fueled an 11 point gender gap in 2012 and a 13 point gap in 2008.

the hurdle that the Republican Party faces is building the party’s white margins by 2 to 3 points. For Romney to have won, he needed 62 percent of the white vote, not the 59 percent he got.

To win the White House again, it must assuage the social conscience of mainstream, moderate white voters among whom an ethos of tolerance has become normal. These voters are concerned with fairness and diversity, even as they stand to the right of center. It is there that the upcoming political battles — on the gamut of issues from race to rights — will be fought.

And even though the camp has existed for 24 years, permanent structures are banned by the Kenyan government.

Dadaab rose from modest beginnings, set up in 1991 as a temporary shelter for 90,000 refugees fleeing the civil war engulfing neighboring Somalia.

During the height of Somalia's 2011 famine, tens of thousands of refugees made the journey by bus, donkey cart and foot to escape hunger and the Islamic militant group Al-Shabaab. A quarter of a million people died during the famine. Most were under the age of six, according to the U.N.

In a post on Sunday on Let Us Build Pakistan, a blog where Mr. Zaki was an editor, Ali Abbas Taj, the editor in chief, said that Mr. Zaki was killed because of his unwavering campaign against the Taliban and their Sunni extremist allies.

Human rights groups have strongly condemned the killing.

Mr. Butt said militant groups have started singling out activists who have been campaigning on social media against social injustice and religious intolerance.