[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fl6FJHBQvhV9xwO9OrQ-Ox51ZRlTJKv7vnjfEPQ7EWcQ":3,"$f6lcKk2oz74_G5ybrLm_B0HIwhMFekS4bZWvcQUAZltk":12},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"slug":10,"image_url":9},164646,"Lawrence Mishel","L",7,null,"lawrence-mishel",[],{"quotes":13,"pagination":95},[14,27,39,50,62,73,84],{"id":15,"quote_text":16,"author_id":5,"source_id":17,"has_image":18,"author":19,"source":20,"quote_tag":21,"commentary":9},2047227,"The increase in unemployment and the lack of job creation has dramatically altered the beneficial dynamic that prevailed in the latter half of the 1990s, when tight labor markets and faster productivity growth fueled broad-based wage gains.",4,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[22],{"id":23,"tag":24},5034031,{"id":25,"tag_name":26},59604,"altered",{"id":28,"quote_text":29,"author_id":5,"source_id":17,"has_image":18,"author":30,"source":31,"quote_tag":32,"commentary":38},2047211,"The labor market is crying for help. The government could write a check from Treasury to every man, woman and child right now for $400. All this bickering about the shape of a dividend tax cut is a distraction from how to get consumers spending right now.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[33],{"id":34,"tag":35},5034007,{"id":36,"tag_name":37},18664,"bickering","**The Backstory**\nLawrence Mishel, a renowned economist and director of the Economic Policy Institute, likely penned this quote during the 2008 financial crisis. At that time, the US economy was grappling with a severe recession, and policymakers were debating stimulus packages. Mishel's statement reflects his frustration with the slow response to the crisis and the need for bold action to boost consumer spending.\n\n**The Hidden Insight**\nThe quote reveals a paradoxical relationship between individual and collective economic well-being. On one hand, Mishel advocates for a massive, unconditional stimulus to boost consumer spending. On the other hand, this approach seems to disregard individual responsibility and the need for fiscal discipline. The hidden insight lies in recognizing that, in times of economic crisis, the collective good may require a temporary sacrifice of individual financial prudence.\n\n**How to Use This**\nWhen facing a challenging economic or professional landscape, consider a \" collective risk\" approach: prioritize the greater good over individual financial concerns, at least in the short term. This mindset allows you to take bold action, like investing in a team or launching a new project, even if it means temporarily sacrificing personal financial security.",{"id":40,"quote_text":41,"author_id":5,"source_id":17,"has_image":18,"author":42,"source":43,"quote_tag":44,"commentary":9},2047188,"The administration projected the economy would gain 306,000 new jobs each month once the tax package was passed. So far, this has been a profound failure.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[45],{"id":46,"tag":47},5033986,{"id":48,"tag_name":49},290347,"economy-and-economics",{"id":51,"quote_text":52,"author_id":5,"source_id":17,"has_image":18,"author":53,"source":54,"quote_tag":55,"commentary":61},2047168,"We've cut a $3 trillion hole in the budget for the next three years for tax cuts he said were going to create 344,000 jobs each month starting in August, and things are going in the opposite direction,",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[56],{"id":57,"tag":58},5033961,{"id":59,"tag_name":60},12132,"budget","**The Backstory**\nLawrence Mishel, an American economist and labor leader, likely delivered this quote in the early 2000s, during the presidency of George W. Bush. At that time, the country was grappling with the aftermath of the dot-com bubble and the launch of the Iraq War, which had significantly increased government spending. Mishel was critical of the Bush administration's tax policies, which he believed favored the wealthy at the expense of the middle and lower classes.\n\n**The Hidden Insight**\nThe quote reveals a profound paradox: the notion that economic policies intended to stimulate growth and job creation can have the opposite effect. Mishel is highlighting the tension between the promise of economic benefits and the harsh reality of budget cuts and economic downturns. This paradox speaks to the complex and often counterintuitive nature of economic policy, where the intended consequences do not always materialize.\n\n**How to Use This**\nWhen navigating complex economic or policy decisions, it's essential to remain vigilant and critically evaluate the potential consequences of your actions. Rather than relying on simplistic promises or slogans, consider the nuanced and often counterintuitive effects of your decisions, and be prepared to adapt and adjust your approach as circumstances change.",{"id":63,"quote_text":64,"author_id":5,"source_id":17,"has_image":18,"author":65,"source":66,"quote_tag":67,"commentary":9},2047162,"The payroll survey is the best measure of the absolute amount of employment and employment trends, and this is really quite a pessimistic report.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[68],{"id":69,"tag":70},5033947,{"id":71,"tag_name":72},6124,"absolute",{"id":74,"quote_text":75,"author_id":5,"source_id":17,"has_image":18,"author":76,"source":77,"quote_tag":78,"commentary":9},2047141,"We have to reconnect overall economic growth to overall benefits for the people.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[79],{"id":80,"tag":81},5033940,{"id":82,"tag_name":83},8336,"benefits",{"id":85,"quote_text":86,"author_id":5,"source_id":17,"has_image":18,"author":87,"source":88,"quote_tag":89,"commentary":9},2047134,"We hope this report will clear the fog, create a better understanding of the true challenges we face and the progress we've made.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[90],{"id":91,"tag":92},5033927,{"id":93,"tag_name":94},2433,"challenges",{"currentPage":96,"totalPages":96,"totalItems":8,"itemsPerPage":97},1,10]