To balance their budgets during the coronavirus pandemic, states including New Jersey and New York have raised taxes on the wealthy. Conservatives warn that it will cause many of those who left at the onset of the pandemic make those moves permanent since they’re no longer bound to the physical locations of their offices or their children’s schools. But available data from 2020 show that the so-called exodus wasn’t as pronounced as initially projected, and the urban exit that did happen, was to suburbs rather than low tax states.
Category Archives: Economics
Analysis: The Global Race To Produce ‘Lithium’ (WSJ)
Demand for lithium is expected to outpace global supply as consumers switch to battery-powered vehicles. With China currently leading in processing of the vital raw material, the U.S. government is looking to boost domestic production. Photo illustration: Carlos Waters/WSJ
Anaylysis: The Cargo Ship Bottleneck In L.A. (Video)
An average of 30 container ships a day have been stuck outside the Ports of Los Angeles and Long Beach just waiting to deliver their goods. The backlog is part of a global supply-chain mess spurred by the pandemic that means consumers could see delivery delays for weeks. Photo Composite: Adam Falk/The Wall Street Journal
Cryptocurrency: The Challenges Facing New ‘Stablecoins’ (WSJ Video)
Bitcoin’s volatility has limited its adoption for payments, so entrepreneurs created stablecoins: cryptocurrencies pegged to assets such as the U.S. dollar. But the recent settlement of a probe into the most popular stablecoin, tether, shows the need for transparency in the growing industry. Photo illustration: Sharon Shi/WSJ
Analysis: Is New York City At Risk Of Bankruptcy?
Mass unemployment, colossal bankruptcies, and a shattered tourism industry have ravaged New York City during the coronavirus pandemic. In January 2021, Governor Andrew Cuomo proposed raising taxes on the wealthy, while cutting Medicaid and school spending to balance the multi-billion dollar budget deficit. Opponents say tax hikes could lead to a mass exodus of the wealthy New Yorkers who fund a large portion of the city’s revenue. Others say that the crisis has exasperated existing inequalities and cutting social services will only hurt those most affected.
Video Analysis: How Vaccine Passports Can Kick-Start The Economy
Vaccine passports are likely to become a feature of everyday life as lockdowns are lifted across the world. But as “green passes” kick-start economies, what are the potential drawbacks? Read more of our coverage on coronavirus : https://econ.st/397Mkxq
Analysis: Will U.S. Stimulus Checks Cause Inflation?
The IRS sent roughly 90 million stimulus checks to Americans in March. WSJ’s chief economics commentator Greg Ip explains why stimulus checks alone are unlikely to spur inflation. Photo Illustration: Carlos Waters
Analysis: ‘China’s Digital Currency Concerns’ (WSJ)
As China moves closer to rolling out its new digital cash, there are concerns the government will track every transaction––not just of citizens but of foreign companies in the country. WSJ travels to Chengdu to see this money revolution in action. Photo: Lorenz Huber for The Wall Street Journal
Analysis: ‘NFT’s And The Digital Art Boom’ (Video)
Non-fungible tokens, or NFTs, have exploded onto the digital art scene this past year. Proponents say they are a way to make digital assets scarce, and therefore more valuable. WSJ explains how they work, and why skeptics question whether they’re built to last. Photo Illustration: Jacob Reynolds/WSJ
A non-fungible token is a special type of cryptographic token which represents something unique. NFTs are called non-fungible because they are not mutually interchangeable, since they contain unique information, although it is possible to mint any number of NFTs representing the same object.
Economics Of Nature: ‘Mapping The Ecosystems Of Liberia, Africa’ (Video)
NASA is working alongside Conservation International and the Liberian Government through the Environmental Protection Agency (EPA) to pilot an innovative and replicable approach to more accurately map ecosystems to support effective planning and sustainable decision-making. NASA’s satellite data and expert analysis will provide a country-wide picture of Liberia’s hardwood forests, mangroves, and other ecosystems; Conservation International and the Liberian Government through the EPA will augment that data with their expertise in ecosystem accounting, field studies, and local knowledge to quantify the value of the country’s natural resources and related ecosystem services.
Liberia is a country in West Africa, bordering Sierra Leone, Guinea and Côte d’Ivoire. On the Atlantic coast, the capital city of Monrovia is home to the Liberia National Museum, with its exhibits on national culture and history. Around Monrovia are palm-lined beaches like Silver and CeCe. Along the coast, beach towns include the port of Buchanan, as well as laid-back Robertsport, known for its strong surf.
Read more: https://www.nasa.gov/feature/goddard/…
