Money

Jeffrey Gray, an economist, argued in the late 1990s that “… any divorce-law change that alters the financial well-being of divorcing women and their children will also impact the welfare of individuals in families that do not dissolve … these indirect effects should not be ignored when designing effective social and economic policies.” Much of the research to date supports his claim. Studying divorce is hard — precisely because pinning down cause and effect is challenging. more »

First, as this expansion continues into its 11th year — the longest in U.S. history — economic conditions are generally good. Second, the benefits of the long expansion are only now reaching many communities, and there is plenty of room to build on the impressive gains achieved so far. Fortunately, the outlook for further progress is good: Forecasters are generally predicting continued growth, a strong job market, and inflation near 2 percent. I will begin by discussing the Fed's policy actions over the past year to support the favorable outlook. Then I will turn to two important opportunities for further gains from this expansion: maintaining a stable and reliable pace of 2 percent inflation and spreading the benefits of employment more widely. more »

"Most married and cohabiting adults cite love and companionship as major reasons why they decided to get married or move in with a partner. But about four-in-ten cohabiters also say finances and convenience were important factors in their decision: 38% say moving in with their partner made sense financially and 37% say it was convenient. In comparison, just 13% of married adults cite finances and 10% cite convenience as major reasons why they decided to get married. About six-in-ten married adults (63%) say making a formal commitment was a major factor in their decision to get married. This is particularly the case among those who did not live with their spouse before getting married. ' more »

One of our board members, Walter Isaacson, recently published a biography of Leonardo da Vinci. A half a millennium ago, da Vinci wrote: “I have been impressed with the urgency of doing. Knowing is not enough; we must apply. Being willing is not enough; we must do.” Da Vinci was an artist, engineer, mathematician, inventor, scientist, musician, architect, writer – a Renaissance man, sure. But a doer. My kind of guy. We can’t all have da Vinci’s genius. But we can all learn from his drive and the emphasis he placed on action. That’s a big reason why I first ran for mayor in 2001: I was tired of seeing paralysis where progress was possible, especially on public education... “I always believe that tomorrow will be better than today. But I’m also a realist, and I know that believing and hoping won’t make it so. Doing is what matters.” more »