ECONOMY

The headquarters of Lehman Brothers in Times Square in 2008, the year the financial services firm filed for bankruptcy.

5 Years After Financial Crisis, Are Big Banks Still A Threat?

11:30am September 12, 2013

by Jim Zarroli

It's been five years since Lehman Brothers collapsed and touched off a banking crisis that is still being felt by the global economy. Today, the banking industry is a lot stronger than it was, but some critics say efforts to reform banking regulations have fallen short of their potential.

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Economist Tyler Cowen believes that income inequality in America is only increasing. His new book is called Average Is Over: Powering America Beyond the Age of the Great Stagnation.

Tired Of Inequality? One Economist Says It'll Only Get Worse

9:57am September 12, 2013

by NPR Staff

In his new book, Average Is Over, Tyler Cowen predicts that America will become a new, more creative meritocracy. Though he believes a rise in income inequality is inevitable, he hopes that "happiness inequality isn't going up in the same way."

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For Native Americans, Mental Health Budget Cuts Hit Hard

9:49am September 12, 2013

by Laurel G. Morales

Suicide rates among Native Americans are already four times the national average. And with recent cuts in federal funding for mental health services across the country, suicide prevention programs may lose ground in the communities that need them most.

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Economy

A Check On The Housing Industry

6:51am September 12, 2013

Millions of American homeowners are underwater — that is they owe more than their house is worth. That number though is falling as home prices rise, and as more houses get foreclosed on.

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Missouri Tax Posturing May Influence Other States

5:50am September 12, 2013

by Jennifer Davidson

State lawmakers failed to override the governor's veto of a controversial measure that would have lowered state income taxes. Although Republicans had supermajorities in the House and Senate, Democratic Gov. Jay Nixon was able to rally school districts, which feared their budgets would suffer from the decline in general revenue.

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Economy

Mill Closing Is 'Major Setback' For Ala. Town

5:27am September 12, 2013

by Stan Ingold

International Paper will close a mill in Courtland, Alabama, that employs more than 1,000 workers. The company blamed a decline in the demand for paper products in the U.S. for the decision. It said the shutdown will be completed in about six months.

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"I've been wrong so often I don't find it extraordinary at all," Ronald Coase told us last year.

Economy

The Nobel Laureate Who Figured Out How To Deal With Annoying People

5:22pm September 10, 2013

by Jacob Goldstein

The solution, according to the Coase Theorem: Pay them to stop annoying you. Ronald Coase, who came up with that idea, died Monday at the age of 102.

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Rahul Kacker owns a factory that makes car components. His business has been hit by the economic slowdown.

India's New Central Banker Steps Into A Perfect Storm

8:54pm September 06, 2013

by Julie McCarthy

The new chairman of the Reserve Bank of India infused a sense of much-needed optimism this week, but analysts say the exuberance is unlikely to last. India's economic growth has crashed, its currency has plunged and prices are up. After a decade of high growth rates, India is now the sick man of Asia.

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Economy

Rates Come Down On Jumbo Mortgage Loans

12:40pm September 06, 2013

by Chris Arnold

The interest rate on jumbo mortgages — those that exceed a government-set cap of $417,000 — has fallen below the rate for traditional loans. Mortgage industry observers say it's the first time this has happened.

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Marion Matthew is a home health aide supporting herself and her 17-year-old son.

Economy

A College Kid, A Single Mom, And The Problem With The Poverty Line

5:02am August 27, 2013

by Pam Fessler

A college student getting help from his parents may be below the poverty line. The mother who earns $23,000 a year is not.

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