Peter Morici

Professor Emeritus Peter Morici is a recognized expert on economic policy and international economics. Prior to joining the university, he served as director of the Office of Economics at the U.S. International Trade Commission. He is the author of 18 books and monographs and has published widely in leading public policy and business journals including the Harvard Business Review and Foreign Policy. Morici has lectured and offered executive programs at more than 100 institutions including Columbia University, the Harvard Business School and Oxford University.

U.S. Spending Shows Confidence, Morici Tells WSJ

Consumer spending indicates Americans are not affected by financial market volatility and economic troubles abroad. "Retail sales have been good," as "consumers have been spending at a rate of about three-and-a-half percent per-annum growth both in the second and third quarters,” Smith School professor and economist Peter Morici told the Wall Street Journal in a recent podcast. Read more...

Craft Beer Community Conflicted by Macro-Brewer Power Plays

As craft beer booms, Anheuser Bush InBev appears to be defending and expanding its market stake. The world’s biggest brewer wants to buy its biggest competitor, SABMiller, and subsequently claim about 57 percent of global industry profits. It’s also paid $200 million to add four craft beer makers to an already extensive collection of brands. Smith School professors William Rand and Peter Morici discuss the implications for the industry. Read more...

Congratulations, Dad! See You in One Year

Software firm Adobe announced this week it will expand its family paid-leave benefits -- including up to six months for birth mothers. This follows Netflix announcing up to 12 months of leave for employees who are new parents. The trend has emerged despite the lack of mandatory parental leave laws in the United States. Smith School professor Peter Morici discusses the pros and cons of the hands-off approach with tech industry expert Tom Jelneck on CCTV America. Read more...

China’s Gold Hoarding Spells Trouble for the Dollar

China’s 57 percent hike in its gold reserves over the past six years, though lower than anticipated, illustrates the nation undercutting the dollar, says Smith School professor Peter Morici. He recently told Fox Business viewers that China has printed a lot of yuan the past 20 years to keep its currency cheap and build a big trade surplus with the United States. “In turn, they get dollars from that,” he said. “And for years they’ve been putting (those dollars) in treasury securities. But sooner or later that dyke has to break.” China’s currency will rise in value, and those dollars will become worth a lot less. Read more...

Market Reaction Muted after Greece 'No' Vote

U.S., European and Asian stock markets all fell in response to Greece rejecting austerity plans demanded by international creditors. But the market reaction was much more muted than analysts had expected. Those experts include Smith School executive-in-residence Bill Longbrake, who spoke to the Associated Press ahead of market openings on Monday. Longbrake said on Sunday night to “watch for how the Europeans handle the Greek bank run, which must be addressed in the next couple of days." Read more...

‘Fast Track’ Would Hurt U.S. Workers, Smith Economist Says

The Senate-adopted bill giving President Obama “fast track” authority to conclude a free trade agreement with Asian nations remains in the balance despite earlier projections of House passage this week, Politico reports. Smith School economist Peter Morici says the measure limiting Congress to up-or-down votes to approve trade packages, such as the Trans Pacific Partnership, “would lower wages for ordinary Americans and increase income inequality.” Read more...

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