Building an Economy of Steel

Between 1880 and 1920, half a million Slovaks immigrated to the United States, many to Pittsburgh, to work in the steel and coal industries. So it is fitting that when Slovakia’s East Slovak Ironworks went bankrupt in
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5 Key Benefits of Frugal Living

The thought of frugal living can strike fear into the hearts of those who want to enjoy live. These are words that can conjure up images of sitting in a cold home with all the heating and lights switched off to save money and nothing to eat (more...)

Competition

Joseph Schumpeter, an Austrian-born economist, coined the term “creative destruction” in 1942 to describe the turbulent forces of innovation and competition in market economies. The “incessant gales” of markets cull out failing or under performing companies, clearing the way for new companies, new products and new (more...)

Patents, Copyright, Trademarks

This article is excerpted from the book Outline of the U.S. Economy, published by the Bureau of International Information Programs. The innovation and technology-driven information age has pushed the question of intellectual property to the top of the world’s trade agenda. It is an issue with a long pedigree. (more...)

Income Disparity

This article is excerpted from the book Outline of the U.S. Economy, published by the Bureau of International Information Programs. Another challenge facing economic policymakers and legislators was mounting evidence that recent economic growth increasingly has concentrated income and wealth gains among a small minority of the U.S. (more...)

U.S.-EU Trade Talks to Begin Week of July 8

By Stephen Kaufman Staff Writer President Obama and European leaders said negotiations for a new trade agreement known as the Transatlantic Trade and Investment Partnership (T-TIP) will begin in Washington in early July. The talks are aimed at deepening the economic relationship between the United States and the (more...)

Treasury’s Cohen Says to Tackle Tax Evasion, Know Real Owners

U.S. Under Secretary of Treasury for Terrorism and Financial Intelligence David S. Cohen said that the Group of Eight leaders and President Obama at the 2013 G8 Summit committed to tackle tax evasion and money laundering by requiring companies to know, and to allow law enforcement (more...)

“Three Speed” Economy Must Take Steps to Prevent Global Weakening

By Stephen Kaufman Staff Writer The managing director of the International Monetary Fund (IMF) says her organization foresees glimpses of “somber trends” in the international economic situation and she outlined what emerging economies and advanced economies can do to preserve and strengthen recent gains. Speaking at the Brookings Institution (more...)

PA House Republicans Outline Priorities With Budget Proposal

Pennsylvania House Appropriations Chairman Bill Adolph (R-Delaware County) introduced House Bill 1437, the House Republican budget proposal for Fiscal Year 2013-14. The proposal spends $28.3 billion, which is a $578 million or 2.1 percent increase over the current fiscal year. “The House budget proposal outlines priorities related to education, health and (more...)

Targeting Businesses Avoiding Taxes in Pennsylvania

By Mario Scavello, Chairman of the House Labor and Industry Committee House Bill 440 would close ‘Delaware Loophole,’reduce tax rate for PA businesses Pennsylvania is one step closer to creating a more hospitable business environment, as legislation to close the “Delaware Loophole,” and lower other taxes on in-state corporations recently (more...)

Ambassador Marantis Discusses U.S.–EU Economic Relationship

The United States is optimistic that the proposed Transatlantic Trade and Investment Partnership (TTIP) could provide an additional boost to an already successful U.S.–European Union economic relationship, Acting U.S. Trade Representative Demetrios Marantis told a Washington audience May 15. He spoke at a round table (more...)

Pennsylvania Film Tax Credit Program

Led by Sen. Lisa Boscola (D-Northampton) and Rep. Mike Sturla (D-Lancaster), the Senate and House Democratic Policy committees today held a joint hearing to discuss Pennsylvania’s film tax credit program and its affect on the state’s film and television industry. “Jobs and economic development (more...)

House Committee Moves Philadelphia Property Tax Legislation

Three pieces of legislation, which deal with curtailing property abandonment and blight and with ensuring the collection of property taxes at fair rates to taxpayers in Philadelphia, may now be voted by the full House following unanimous passage today by the House Urban Affairs Committee, chaired by state Rep. (more...)

Senate Discussion Focuses on Modernizing Pennsylvania’s Liquor Control Board

As discussions regarding privatization of Pennsylvania’s Liquor Control Board (PLCB) operations continue, the Senate Democratic Policy Committee today held a roundtable discussion at the Plumbers’ Union Local #690 to talk about how to protect the PLCB from privatization through modernization and streamlining of its operations. The discussion, held at the (more...)

Economics at Core of U.S. Foreign Policy, Kerry Says

By Phillip Kurata Staff Writer Secretary of State John Kerry says economics is at the core of U.S. foreign policy. Testifying at the Senate Foreign Relations Committee April 18, Kerry said his recent trips to Europe, the Middle East and Asia have strengthened his conviction that a foreign policy based on (more...)

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