Best Business Commentary
The economic downturn might just alleviate some of the “misery of the middle-class flier,” says Daniel Gross in Slate. For years, G-7 nations have “welcomed a falling greenback,” says The Wall Street Journal in an editorial, but they have finally awakened
The recession’s silver lining in the blue skies
The economic downturn might just alleviate some of the “misery of the middle-class flier,” says Daniel Gross in Slate. U.S. commercial aviation expanded so much during the recent boom that it “burst at its seams,” with the increasing number of airliners and corporate jets clogging our “overtaxed aviation infrastructure.” Luckily, “the insanely high price of jet fuel,” the decrease in corporate spending, and the tightening in consumer spending have accomplished what “policy wonks” couldn’t: fewer planes are now competing for coveted runway slots. That should mean shorter security lines and more on-time flights.
The trouble with the weak dollar
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
For years, G-7 nations have “welcomed a falling greenback,” says The Wall Street Journal in an editorial, but they have finally awakened “from their long slumber.” The weakening U.S. dollar, it turns out, isn’t a “benign” solution to “the U.S. trade deficit and the non-problem of ’global imbalances.’” Instead it is causing global inflation and soaring prices for oil, corn, and other commodities. Currencies aren’t like other commodities—their supply is set by a “cartel of central banks.” The G-7 finance ministers signaled their willingness to help, but the main problem is the U.S. “Fed’s weak-dollar policy.” We can’t “inflate our way” out of our credit mess, and our attempts to do so are only hurting us.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Create an account with the same email registered to your subscription to unlock access.
-
'Democrats now have a chance to present a vigorous, compelling case'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
What has Kamala Harris done as vice president?
In Depth It's not uncommon for the second-in-command to struggle to prove themselves in a role largely defined by behind-the-scenes work
By Theara Coleman, The Week US Published
-
How Black organizations quickly pivoted and mobilized for Kamala Harris
In the spotlight Harris has a shot at being the first Black woman to lead the Democratic ticket
By Theara Coleman, The Week US Published