This article was originally published by Washington Monthly.
The Bureau of Labor Statistics (BLS) surprised the markets and most economists Friday with an announcement that the unemployment rate fell from 14.7 percent in April to 13.3 percent in May. President Donald Trump had the temerity to boast that George Floyd, the unarmed black man killed by a white police officer in Minneapolis, was “looking down from heaven” to admire those numbers. “This is a great day for him,” Trump said in the Rose Garden. “This is a great day for everybody.”
The field of behavioral finance studies the behavior of the investment markets. Similarly, the field of behavioral economics studies the behavior of the global economy and the numerous national, regional, and local economies.
But what of the field of behavioral accounting? How does it resemble the fields of behavioral finance and economics? And how does it differ?
April’s 14.7 percent unemployment rate, announced by the Labor Department last Friday, is awful by any standard. The official tally shows that unemployment increased by 15,938,000 people last month—to 23,078,000 overall—resulting in the highest jobless rate since the Great Depression.
“All Eyes on Asia”: The Geopolitical State of Affairs in Northeast Asia Amidst the COVID-19 Pandemic
Last month on April 10th, the Korea Society and the Japan Society hosted a virtual talk titled “Geopolitics of Coronavirus: Japan and Korea,” moderated by Dr. Joshua Walker from the Japan Society. The two main speakers, Dr. Sheila Smith, Senior Fellow for Japan Studies at the Council on Foreign Relations; and Dr. Stephen Noerper, Senior Director at The Korea Society, outlined how these two democratic nations in Northeast Asia have tackled the coronavirus pandemic to date, and the regional implications it may pose in the foreseeable future.
Co-authored with Jill Frew.
With stunning swiftness, COVID-19 knocked America’s healthcare delivery system to its knees.
A month into the crisis, normal hospital operations are in upheaval. Avoiding in-person care has become the norm and the volume of admissions, surgeries and ER visits has plummeted. Overwhelming demand for ICUs, ventilators and personal protective equipment (PPE) has strained delivery and supply chains to the breaking point.
I had planned to be in Washington last week at the IMF/World Bank meetings, a chance to hear the latest policy debates and catch up with old friends. Not this spring; the meetings were entirely virtual and didn't offer much clarity beyond a dismal forecast for 2020. I have however indulged in a cornucopia of online offerings, some of which I have included below.