UMass Economics in the News

Gerald C. Friedman, economics, comments in a column about how the layoffs announced by General Motors highlight the ever-larger holes in the retirement system for most American workers. He says, “Companies don’t offer pensions anymore. Social Security, when it was established, was meant to be one leg of a stool. One leg would be the private pension through employment, a second leg personal savings, and a third leg Social Security. Social Security is now the only source of income a lot of elderly have.” (NBC News, 11/27/18)

Ina Ganguli, economics, is quoted in a story about how immigrant businesses play a key role in the economy of the Worcester area. She says immigrants have a higher rate of obtaining patents or more upstart capital, but the reason for this isn’t known. (Telegram & Gazette, 11/19/18)