Written by Garrett Ainsworth It is a truth universally acknowledged (by economists) that economic inequality has sharply risen in the United States since the 1980s. To discover what caused this increased inequality, why it persists, even worsens, and, importantly, why it is unequivocally bad both for individuals and society at large, we first need to…
Category: Domestic Economics
More Than a Game: The Local Financial Impact of the College Football Playoff National Championship
Written by Leela Anderson During the 2022 football season, the University of Michigan football team gained momentum all season, beating famous rivals like Michigan State University and Ohio State University, before being stopped by Texas Christian University just short of the National Championship. Fueled by their close brush with victory and the fact that many…
Op-Ed: Why the United States Should Look to Venmo for Economic Growth
Written by Brooke WilliamsFrom Zelle to Venmo, and everything in between, digital payment platforms have been gaining popularity since the mid 2010s. Then, the COVID-19 pandemic hit which led to another major increase in the popularity coupled with new developments in e-commerce due to the need for more online orders while social distancing. The reliance…
The Dark Alliance: Addressing the Rise of AI Financial Frauds and Cyber Scams
Written by Terence Huang The rapid growth of technology has positively impacted various aspects of our lives, both socially and financially. However, with the increasing prevalence of artificial intelligence, there has been a surge in financial frauds and cyber scams in the digitization of financial services. A survey of 500 fraud and risk professionals, conducted…
Social Security
Written by Joshua Ravichandran There’s a serious financial issue facing Social Security. The program is projected to have a $13.6 trillion dollar gap between how much money it takes in compared to how much money it pays out over the next seventy five years (US Department of Treasury). So this raises the question. How can…
The Risks Associated with Adjustable Rate Mortgages
Written by Paige Steinhauser With mortgage rates on the rise, many Americans are forgoing fixed mortgages and instead turning to adjustable rate mortgages, or ARMs. ARMs have become increasingly attractive due to their low starting interest rates. However, ARM rates can alter after a certain period based on “changes in the corresponding financial index that…
EMS and the Fight to be Recognized as an Essential Service
Written by Troy Cramer While calling an ambulance for an emergency is an incredibly stressful moment, an ambulance not arriving quickly makes this moment even more traumatic. For some communities in the US, that is a real threat. This threat is close to home in Ann Arbor, as seen in Flushing, a town just an…
Why does American Economic Sentiment Remain low?
Written by Arnav Gupta As 2023 comes to a close, COVID-19 may seem like a distant memory– and that is partially true; the main effects of the pandemic were felt roughly three years ago. However, some effects continue to bear a lasting impact on not only the U.S. economy, but the people who interact with…
Embracing Femininity is Boosting the Economy
Written by Mihika Shukla The expression “girl economy” has become a new buzzword, littering the titles of many recent articles. The phrase is being used to describe the goods and services that directly target women (Zhang, 2023). While this word seems like another frivolous and light-hearted joke, its social and economic ripples have been felt…
A Deep Dive into the Economic Ripples of the Hollywood Strike
Written by Olivia Knapp Beginning on May 2nd, the Writers Guild of America went on strike, and the Screen Actors Guild joined them on July 14th, 2023. While the screenwriter’s strike eventually ended after 148 days, actors are still on strike. The strike results from years of economic turmoil following the emerging popularity of streaming…