• News

    U.S. headed into possible recession by 2021

    Three out of every four economists in the United States are predicting the American economy will head into a recession by the year 2021, the Washington Post reports.  This new recession will occur just over a decade after the last financial crisis wreaked havoc on the global economy, where the United States alone lost 13 trillion dollars in total Gross Domestic Product. Many have still not recovered from the 2008 crisis, forcing many major financial institutions to close their doors and hundreds of thousands of people to lose their jobs.  Economists are basing their predictions on an economic anomaly that has occurred before every recession in the United States since…

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    Economist talks labor and capitalism at QC

    In the 1950s, Jose Maria Arizmendiarrieta, a Catholic priest living in Mondragon, Spain, felt frustrated traditional businesses did not come to provide jobs for workers. In response, he recruited five workers to create a worker cooperative, or a business run only by workers. Sixty years later, the business, now called the Mondragon Corporation, employs over 70,000 employers and includes over 250 companies. It makes millions of dollars each year—and is still led by workers. This story was shared by Richard Wolff, an economist, who spoke about capitalism and alternatives to it at Kiely Hall 264 on March 21. “The problem in this society is that we don’t have an economic…

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    Job opportunities look bleak for graduates, but hope remains

    As the spring semester begins, students are choosing their majors and aiming to graduate on time. All of the students, however, wish to have a good job waiting for them once they complete school. Queens College students are no different as it had a total enrollment of 20,100 students, according to the QC 2012-13 Fact Book. However, the current economic crisis has lead students to work jobs that pay little and require no college degree. People who hold those jobs, despite having a college degree, are deemed “underemployed.” A “good job” is defined, according to the Center for Economic Policy and Research, as a job providing at least $19 per…

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    Federal Reserve President Visits Queens College

    William Dudley, president of the Federal Reserve Bank of New York, delivered a talk on macroeconomics on Nov. 18 at the Campbell Dome. Dudley, who also serves as vice chairman of the Federal Open Market Committee, began by noting the intentions behind his discussion. “The agenda for these visits is always very packed, as you can see, but that’s really the point: to meet with a diverse array of people in order to get a comprehensive picture of economic conditions and issues in the area,” Dudley said. “It’s good for us to get a fuller understanding of what’s going on — on the ground — on Main Street.” The Reserve’s…