Originally published on Wed September 4, 2013 5:59 pm
The U.S. economy held steady with "modest to moderate" growth between early July and late August, as Americans bought more cars and auto factories ramped up hiring.
The Federal Reserve's so-called Beige Book, comprising reports from 12 geographic districts around the country, showed that manufacturing activity "expanded modestly" and that several districts reported that "demand for inputs related to autos, housing, and infrastructure were strong."
Syrian refugees stand in line for food at Kawergost refugee camp in Irbil, Iraq, on Aug. 21. The Syrian civil war has already sparked a refugee crisis in the region. Now, many countries are waiting to see the effects of a possible U.S. military strike.
Update, Sept. 4: We added the audio for David Kestenbaum's radio obituary of Ronald Coase.
If you created the world as a simple economic thought experiment, companies wouldn't exist. Instead, everybody would work for themselves, and they'd be constantly selling their labor (or the fruits of their labor, or use of their tools, or whatever) to the highest bidder. Wages would rise and fall every day (every hour! every second!) depending on supply and demand. That's how the market works, after all.
As Secretary of State John Kerry spoke to the House Foreign Affairs Committee on Wednesday, "Code Pink" protesters behind him held up "bloody hands" to express their opposition to the prospect of U.S. military strikes on Syria.
"We are not asking America to go to war," Secretary of State John Kerry told the House Foreign Affairs Committee early Wednesday afternoon, as he and other top administration officials continued to push Congress to support President Obama's call for military strikes aimed at the regime of Syrian President Bashar Assad.
Mois Yussuroum, a 94-year-old retired dentist, fought the Nazis as part of the Greek resistance during World War II. "Of the 650 Greek Jews who fought in the resistance, I'm the only one still alive," he says.
Credit Courtesy of Jewish Museum of Greece
Yussuroum (right) with a fellow Greek soldier fighting the Nazis during World War II. He used the Christian name "Yiorgos Gazis" in case the Nazis captured him.
Credit Joanna Kakissis / NPR
Marios Sousis, 75, with his granddaughters Linda, 13, and Annita, 14.
No one has ever doubted Mois Yussuroum's patriotism. As part of the Greek resistance during World War II, he fought Benito Mussolini's fascist army and then the Nazis.
"The other resistance fighters didn't know I was Jewish," he says, since he used the name "Yiorgos Gazis" in case he was captured. "But my superiors did know, and they gave me many responsibilities, including making me a garrison commander."
Originally published on Wed September 4, 2013 1:44 pm
U.S. competitiveness among global economies suffered after the 2008 global economic crisis. Four years after the crisis, the U.S. slipped in the World Economic Forum's annual competitiveness ranking. This year it's back up a bit: The U.S. rose to fifth position overall from seventh last year, in the forum's latest survey, which was released Wednesday.