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The article discusses the use of Gross Domestic Product (GDP) as a key economic indicator. The author opines that because GDP overlooks factors such as widespread economic cuts in areas known as intangible investments, including research and development, product design and worker training programs, it overestimates the overall strength of the economy. The author suggests that to get a more accurate reflection of the economic outlook at any given time, intangible investments should be measured.

The article reports on the U.S.'s lack of innovative growth. According to the article, the U.S. prides itself in its innovative spirit, which is also one of the few things that both the Democrat and Republican political parties share. The article puts forth evidence, including the dot-com bubble and the lack of new products in medicine and in microelectromechanical systems, that the lack of innovation since the year 1998 has contributed to the country's financial crisis. INSET: TOO GOOD TO BE TRUE?.

The article discusses the potential effects of U.S. President-Elect Barack Obama's plan to create 2.5 million jobs between 2009 and 2010. The possibility that the plan could create jobs in other countries such as China, Germany, and Mexico rather than the U.S. is mentioned. The expectation of large amounts of lobbying to ensure that the plan creates jobs in the U.S. by encouraging consumers to buy American products is also discussed.

This article discusses strategies for bringing liquidity back into the global economy and increasing the economic stability of corporations. Recommendations including the prioritization of technological efficiency rather than outsourcing, and the to adaptation of lending policies to deal with declining growth rates are noted. The possibility that the decline in growth will necessitate increases in tax rates to improve services are considered.

The article discusses the 2008 U.S. government bailout of the financial sector. A plan by U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, to absorb devalued mortgage-backed securities and assets, has prompted criticism from opponents. Topics include a discussion concerning free-market bailouts, the risks associated with the plan, and alternatives to government ownership of companies such as public ownership.

The article discusses the strategy of Ben Bernanke, U.S. Federal Reserve Board chairman, to prevent financial markets from collapsing during the 2008 U.S. credit crisis. It is questioned whether increasing interest rates will create an economic boom or bubble. Unlike his predecessor Alan Greenspan, Bernanke has allowed brokerage companies to borrow money from the Federal Reserve. Concerns over rising inflation are raised.

The article discusses whether, in a recession, multinational corporations (MNC's), i.e. companies that have operations, subsidiaries, or investments in more than two countries, will benefit the U.S. One conclusion is that U.S. MNC's have exported U.S. jobs overseas, while increasing their profits dramatically. MNC's have an impact on the economy by creating high pay and high quality jobs, paying corporate taxes, the quality of management, and their presence on the American stock markets.

The article addresses the issue of how much of the recent growth of the U.S. economy was real and whether or not it was induced by a credit frenzy. With big banks posting billions in losses, investors are anxious. Part of the current economic crisis is based on consumers over-spending and over-borrowing. Banks are also to blame for going on a lending spree. The health of the global economy and cut backs in U.S. consumer spending will be part of the recovery process.

The article discusses the impact of the shortage of U.S. credit on consumers, whose spending could drop by $200 billion to $300 billion. After the 2007 financial crisis in the subprime mortgage market and the real estate market, consumers will not have access to credit. The slowing U.S. economy should be a major issue in 2008, according to pollsters, and the apparel, automobile and luxury goods sectors could face losses.

The article discusses a difficult choice facing U.S. Federal Reserve Chairman Ben S. Bernanke. A weak housing market and flagging job growth argue for a reduction in interest rates. But declining productivity suggests rate cuts could be inflationary. In the 1970s reduced interest rates during a time of low productivity growth produced stagflation. Central bankers of strong foreign economies would be unlikely to follow suit if the U.S cut rates, introducing further complications.

The article explains that offshore outsourcing production has created phantom U.S. Gross Domestic Product statistics, which make profit growth appear higher than it really is. The processes and data collection conducted by the Bureau of Labor Statistics are reveled and scrutinized. This explains why wage growth for American workers has been weaker than estimated.

This article applauds the performance of several businesses that are leading the way into the 21st century including Coach Inc., Google, Inc., and Best Buy. Coach, Inc., New York's maker of women's handbags, has conducted its own market research through consumer Internet questionnaires, phone surveys and face to face encounters. Google Inc. has launched innovative services, including brokering advertising for traditional media. Best Buy developed Geek Squad, a home PC repair service. INSET: How We Picked the 50.

The authors forecast lending rates in the United States and Europe as of February 2007. They predict that lending rates will remain low into the foreseeable future. The low rate of debt has allowed companies to see their debt costs lower dramatically, and this has freed up money for other ventures and investments.

The article discusses how global forces have taken control of the U.S. economy. It reports that the federal government as of December 2007 will no longer be the most powerful force in the U.S. economy as Americans spend more on imports than the government takes in as revenue. As a consequence, the power of the government to influence weak wage and job growth is curtailed, especially given the rise of China and India and the increase in global competition. INSET: THE FOUR BIG IDEAS OF ECONOMIC POLICY.

The article presents letters to the editor in response to articles in previous issues, including "What's really propping up the economy," in the September 25, 2006 issue, "The truth about brainstorming," in the September 25, 2006 issue, and "Jack of two grapes, master of both," by Robert Parker in the September 4, 2006 issue.

The article discusses the influence the health-care industry has had on the United States economy. 1.7 million new jobs have been added to the United States work force since 2001, a large growth in comparison to the other industries who have, for the most part, been stagnant. There are problems that can arise from an abundance of new jobs, including lowering the competitiveness of U.S. corporations and a future overabundance of health care-related jobs that will create a lopsided job market. INSETS: THE TRUE PICTURE OF THE JOB RECOVERY;How We Looked Inside;THE HEALTH BELT;WHERE THE JOBS AREN'T

This article reflects on the United States economy and projections that its future is bleak. The economy may be on a stronger footing than one might think. Businesses are investing about $1 trillion a year more than the official number show. The savings rate is actually positive. The economy could also be much more volatile than one would think. The government's system of number collection misses the growing portion of the Gross Domestic Product (GDP).

Offers a look at the hours of labor among college-educated employees in the United States. Report that over 31 percent of college-educated male workers regularly work 50 or more hours a week; Statement that while technology has boosted productivity, there has been a rise in the hours of labor; Discussion of the organization of corporations; Problems with corporate management of professionals; Report that Intel Corporation is creating technology that lowers the time cost of teamwork; Use of Web-based organizations such as Weblogs, collaborative online databases and open-source software development to coordinate among professionals; History of the workweek in the United States.

Reviews the work of "BusinessWeek" columnist Gene G. Marcial and gauges the usefulness of investment advice published in his weekly "Inside Wall Street" column in 2004. Reports on how Marcial's investment picks usually shot out of the gate but were slow going over the long term; Summarization of investments recommended by Marcial; Statistics related to the market performance of stocks recommended by Marcial.

Examines the U.S. tort system, and efforts to reform it. Description of the Class Action Fairness Act (CAFA), which legislates reform of the federal tort system; Details of several issues related to tort reform, including consumer protection, medical malpractice, antitrust law, and corporate accountability; Historical context of the American tort system; Detailed recommendations for reforming the U.S. tort system. INSETS: THE STORY OF AN IMPASSE;A FOUR-PART PLAN FOR LITIGATION REFORM;A TALE OF TWO SYSTEMS.

Comments on job growth and the United States economy. Discussion of the employment market, with data from the Bureau of Labor Statistics; Concern about the underlying strength of the economy causing economists to lower their gross domestic product forecasts; Reasons that job creation could have stalled; Data showing a squeeze in retail-trade employment, jobs in education, telecom and health care; The logic behind the idea that gains in manufacturing employment should have been bigger; How job cuts and new technology has led to productivity gains in some industries; Idea that job growth in education is driven by demographics and funding for lower teacher-student ratios; Statistics on job losses in the telecommunication sector; Job gains in health care.

Discusses a new age of innovation resulting from research and development. Recap of the innovations of the last 75 years; Increase in funding for R &D which is leading to the next wave of major inventions; Uneveness of technological progress where the money has mostly been spent in medicine and information technology research; Where the funding has not been applied; Global nature of technology research; Contention that America's prosperity depends on its ability to remain the global innovation leader; Potential pitfalls ahead. INSETS: Innovation Runs Hot and Cold;The Future of Innovation.

Reports that "BusinessWeek" magazine's "Inside Wall Street" column handily outpaced gains in the major indexes for 2003. Stock picks featured in the weekly column, which rose by an average of 26.4% in the six months after the column was published, more than doubling the average rise in the Dow Jones Industrial Average and the Standard & Poor's 500-stock index during the same period; Gene G. Marcial, who writes the "Inside Wall Street" column; Analysis of his best and worst stock picks from 2003.

Examines the question of how long the U.S. economy can sustain its remarkable gains in productivity. Fluctuations in productivity; Role of Federal Reserve Chairman Alan Greenspan and policymakers in discerning the economy's underlying rate of long-term productivity growth; Implications of a sustainable rate for the economy and Fed policy; Views of experts about how fast the productive capabilities of the economy are growing; Why sustainable productivity growth is a key indicator of the long-term health of the economy; Outlook for economic growth.

This article presents a book excerpt from "In Praise of Heady Growth," by Michael J. Mandel.

Contends that the productivity boom has made asset owners rich and left wage-earners behind. Continuing profit of asset owners from weak wage growth and strong productivity; Electioneering claim by George W. Bush of an ownership society and tax cuts; Growing reach and efficiency of financial markets; Worldwide assets due to globalization; Impact of tax code changes over the past 12 years.

Profiles stock analyst Gene G. Marcial, who has written the 'Inside Wall Street' column of the "Business Week" periodical in the U.S. Assessment of Marcial's investment analysis and stock-market recommendations in 2002; Background information on Marcial; Predilections.

Examines the impact of the war in Iraq on the economic conditions in the United States. Effects of defense spending on economic growth; Implications of a military assault launched by U.S. troops in Baghdad; Dependence of the American economy on globalization and innovation; Increase in corporate and national security in the U.S.; Short-term positive effects of fiscal stimulus from higher defense spending.

Examines the social impact of an economic reform proposal made by United States President George W. Bush. End to taxation on dividends; Income tax cuts; Investment incentives for small businesses; Distribution of dividends, interest and other capital income; Scenarios in which these proposals work and do not work to stimulate the economy; How these proposals work; Benefits of these proposals for workers, who would be affected by the drop in unemployment; Positive characterization of these reforms.

Presents analysis of the debate over the U.S. budget. Effects of tax cuts versus increasing deficits; Level of income taxes; Arguments for tax cuts; Other effects of lower taxes; Arguments for holding down budget deficits as a way of boosting growth; Links between deficits and interest rates; Impact of deficits on Social Security benefits; Consequences for the U.S. economy if a large deficit is kept.

Discusses the outlook for corporate profits in the U.S. Difficulty of boosting earnings; Implications for workers; Observation that higher productivity does not guarantee higher profits; Risks of massive layoffs, including a possible growth recession; Hurdles that companies are facing, including labor costs.

Discusses a report from the U.S. Bureau of Economic Analysis (BEA), that showed that the 2001 downturn was deeper and longer than first believed. Decline in gross domestic product (GDP) over three quarters, not one, as well as corporate profits being weaker than thought; Industries with the biggest downward revisions, including business services and telecommunication; Reasons for corporate profit falls, including the BEA report subtracting the value of exercised stock options; Outlook for high productivity in a weak labor market.

Comments on economic conditions in the 1990s in the United States. Unprecedented amount of money earned in the stock market; Indication that productivity gains benefited workers more than investors; Wage gains and low unemployment; How productivity gains lowered prices for consumers rather than increasing profits for companies.

Reports on the possible changes to the United States economy which may result from the September 11, 2001 terrorist attacks on the United States. Growth of the economy in the 1990s; Possibility that the U.S. government may play a larger role in the economy; Economic consequences of an imbalance between the private and public sectors of the economy; Risks to globalization.

The article discusses the impact of the September 11 attacks on the economy of the United States. The terrorist attacks compelled the financial market to shut down besides destroying thousands of lives and billions of dollars in property. The economy and financial markets will take time to revive. Global recession may occur due to falling markets.

Presents an overview of the effect of the Internet on business and communication, as of March, 2001. Prediction that the Internet's power to transform will play out unevenly and in stages; Perceived effect of the Internet on industries including retail, financial services and healthcare; Opinion that the Internet is likely to revolutionize mainly communications-intensive industries and activities.

This article discusses the challenges of fading economic expansion that will be faced by the winner of the presidential election 2000 in the United States. In the face of six interest rate hikes by the Federal Reserve, high oil prices, a falling stock market, and a technology boom that seems to be losing some steam, the supercharged economy may finally shift out of overdrive. No matter who occupies the post, there's a good chance he will preside over the sputtering of the longest economic expansion in the U.S. history. All signs point to slower growth, and a growing number of economists say a recession in 2001 is a distinct possibility. While a troubled economy is never easy for a president to deal with, let alone a newcomer to the post, this time may be even trickier.

Presents an adaptation from the book 'The Coming Internet Depression: Why the High-Tech Boom Will Go Bust, Why the Crash Will Be Worse Than You Think, and How to Prosper Afterwards,' by Michael J. Mandel.

Examines the possibilities for global economic conditions in the future. Impact of declining profits in the United States stock markets, decline of the value of the euro, and the rising price of oil; Projections for future economic growth from the International Monetary Fund (IMF); Details on weaknesses that concerns economic forecasters.

Evaluates the telecommunications industry for its investment potential. The troublesome signs that predominate the industry, including a decline in the stock prices of the three biggest long-distance companies in the United States; Theory that telephone companies are mismanaging their finances; Decrease in revenue compared to an increase in capital expenditures; Outlook for the future of telecommunications and its viability as an investment. INSETS: WHY TELECOM COMPANIES MAY DISAPPOINT INVESTORS;HOW TELECOM COMPANIES WILL FARE.

Discusses the so-called New Economy of the Internet industry as of spring 2000. How the United States stock market is affecting incentives to invest in high-technology innovation; Industries in which venture funds are flowing, such as consumer and business services, communications, and medical information systems; Decline in initial public offerings (IPO); Effect of speculation; Demand for a business model that allows for profitability.

This article forecasts the emergence of the global New Economy. With the information technology (IT) sector leading the way, the U.S. has enjoyed almost 4% growth since 1994. The result is the so-called New Economy which projects faster growth and lower inflation. But the worldwide proliferation of mobile phones and Web accounts by itself will not bring about a more vibrant global economy. What is also needed are dramatic changes in core institutions that will translate technology into faster productivity growth. That means financial markets better able to fund innovation, more flexibility in corporations and labor markets, a faster pace of deregulation and increased competition. Moreover, there are signs that the process of change has started. Merrill Lynch & Co. is forecasting 3.3% world growth for 2000, with inflation slowing down.

The authors provides analysis about the globalization of an open market as a solution for financial stability on countries around the world. He argues that no country can thrive in the long run unless it is not part of the global economy. An overview over the global trade soared to more than 20 percent of the output on industrialized countries and to about a quarter of total global economic activity. He justifies that global competition is the key to economic growth.

The article highlights the economic influence of the Internet and high technology in the U.S. as of 1999. The Internet helped boost economic and productivity growth and has opened more industries to globalization. It has also made it easier for companies and manufacturers to provide services of all types including banking, education, consulting, retailing and gambling.

Discusses the disparities in wage growth between the different parts of the United States economy in 1999. Why someone working at a job in the Old Economy is destined to become relatively poorer; How average real wages in the New Economy industries have risen since 1994 compared to the rest of the economy; How to tell whether your job is part of the New Economy; Why New Economy workers are doing better.

Presents an industry outlook as of January 1999. Suggestion that price increases have remained under control; The impact of ongoing merger explosion; The case for a slowdown; The lack of evidence that consumers are overdrawn; Results from a poll; Graph of the global economy.