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Steven Pressman

Emeritus Professor of Economics and Finance, Monmouth University

Steven Pressman is Emeritus Professor of Economics and Finance at Monmouth University in West Long Branch, New Jersey. In addition, he serves as Associate Editor of the Review of Political Economy. His main research areas are poverty and income distribution, post-Keynesian macroeconomics, and the history of economic thought. Over the past three decades, Pressman has published more than 170 articles in refereed journals and as book chapters, and has authored or edited 18 books, including Understanding Piketty’s Capital in the 21st Century (Routledge, 2015). A New Guide to Post Keynesian Economics (Routledge, 2001), Alternative Theories of the State (Palgrave Macmillan, 2006), and 50 Major Economists (Routledge, 2013), which has reached its third edition and has been translated into five different languages. He is a frequent contributor to newspapers and regularly appears on TV to discuss economic issues.

Why America has a debt ceiling: 5 questions answered

Jul 24, 2021 05:16 am UTC| Economy

Another big fight is brewing over the U.S. debt ceiling, which is a statutory limit on how much the government can borrow to pay its bills. In an interview, Senate Minority Leader Mitch McConnell said Republicans wont...

The debt ceiling and why we should kill it: 5 questions answered

Jul 21, 2019 12:15 pm UTC| Insights & Views Economy

Editors note: The U.S. government maxed out its national credit card in March and has been moving money around ever since to avoid running out of cash. Very soon the Treasury Department will reach the limits of this...

The US economy likely just entered its longest ever expansion – here's who benefited in 3 charts

Jul 03, 2019 21:07 pm UTC| Insights & Views Economy

The U.S. economy likely surpassed an important milestone last month: Americans are now experiencing the longest economic expansion in the nations history, assuming the data still being collected bears this out. This is...

Stumped by the stock market slump? Start by picturing a used car dealership

Dec 24, 2018 07:54 am UTC| Insights & Views Business

Stocks have been slumping on a variety of concerns, from President Donald Trumps ongoing trade war with China to worries about an economic slowdown and rising interest rates. Given the many factors driving shares up or...

2 economic policies likely to change with Democrats in control of House

Nov 08, 2018 17:23 pm UTC| Insights & Views Economy

Perhaps the biggest surprise in the midterm elections was that, unlike 2016, there wasnt one. Polls and pundits expected Democrats would take control of the House and Republicans would keep the Senate, and thats exactly...

GOP tax plan doubles down on policies that are crushing the middle class

Dec 20, 2017 18:06 pm UTC| Insights & Views Politics

The U.S. middle class has always had a special mystique. It is the heart of the American dream. A decent income and home, doing better than ones parents, and retiring in comfort are all hallmarks of a middle-class...

Poor and middle-income families need a better way than 529s to save for college

May 27, 2017 02:57 am UTC| Insights & Views Economy

A college education is increasingly necessary for success in todays economy. Its also increasingly expensive. Americans with a college degree earn, on average, US$1 million more over the course of their lives than those...

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Economy

European Stocks Slide as Middle East War Fears and Rising Oil Prices Shake Markets

European shares extended their losses on Tuesday as a deepening global equity selloff rattled investors. Mounting concerns over a prolonged Middle East war and a sharp surge in oil prices fueled fears of higher inflation...

Gold Prices Surge for Fourth Day as Middle East Tensions and Strong U.S. Dollar Shape Market

Gold prices extended gains in Asian trading on Tuesday, marking a fourth consecutive session of advances as investors reacted to escalating geopolitical tensions in the Middle East. Safe-haven demand remained strong,...

S&P Global Warns of Potential Downgrade for Berkshire’s PacifiCorp Over Oregon Wildfire Liabilities

SP Global has warned that it may downgrade PacifiCorp, the Berkshire Hathaway-owned utility, to junk status as mounting liabilities from Oregon wildfire lawsuits threaten its financial stability. The credit rating agency...

South Korea Manufacturing PMI Rises for Third Month on Strong Semiconductor Demand

South Koreas manufacturing sector continued its upward momentum in February, marking a third consecutive month of expansion as semiconductor demand fueled faster factory output. According to the latest SP Global survey,...

RBA Signals Possible March Rate Hike as Energy Risks Threaten Inflation Outlook

Reserve Bank of Australia (RBA) Governor Michele Bullock has signaled that the central bank could raise interest rates again as soon as its March 1718 meeting, even without waiting for first-quarter inflation data....

Politics

U.S. Military Strikes on Iran Complicate Xi-Trump Summit and Expose China’s Energy Risks

The recent U.S. military campaign against Iran has reshaped global geopolitics and placed Chinese President Xi Jinping in a difficult position ahead of a potential summit with U.S. President Donald Trump. Trump is expected...

Trump and Merz Meet at White House Amid Iran Strikes and Trade Tensions

U.S. President Donald Trump welcomed German Chancellor Friedrich Merz to the White House on Tuesday for high-stakes talks centered on the Iran conflict, U.S.-Israeli airstrikes, rising tariff tensions, and Europes evolving...

Trump Says U.S.-UK Relationship Has Deteriorated After Starmer Hesitates on Iran Strikes

U.S. President Donald Trump said the long-standing U.S.-UK relationship has weakened after British Prime Minister Keir Starmer initially declined to provide full military backing for American strikes against Iran. In an...

Israel Prepares Weeks-Long Military Campaign Against Iran Amid Escalating Air Strikes

Israel has prepared for a potential weeks-long military campaign against Iran, signaling a significant escalation in Middle East tensions. According to Israeli military spokesperson Lieutenant Colonel Nadav Shoshani, the...

Trump’s Iran Strikes Spark War Powers Clash in Congress

U.S. President Donald Trumps decision to authorize military strikes on Iran has ignited a heated debate in Congress over presidential war powers and constitutional authority. Republican lawmakers argue that the attack was...

Science

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Technology

OpenAI and U.S. Defense Department Update Agreement to Clarify AI Usage Terms

OpenAI CEO Sam Altman announced that the company is working with the U.S. Department of Defense (DoD) to update their existing agreement, reinforcing clear boundaries around how OpenAIs technology, including ChatGPT, can...

OpenAI Secures $110 Billion Funding Round at $840 Billion Valuation Ahead of IPO

OpenAI has raised a record-breaking $110 billion in fresh funding, pushing the ChatGPT makers valuation to an impressive $840 billion. The massive investment round, backed by SoftBank, Nvidia, and Amazon, highlights the...

U.S. Deploys Tomahawks, B-2 Bombers, F-35 Jets and AI Tools in Operation Epic Fury Against Iran

The United States launched a sweeping military operation against Iranian targets under Operation Epic Fury, deploying advanced weaponry that included Tomahawk cruise missiles, B-2 stealth bombers, F-35 and F/A-18 fighter...

Australia Targets AI Platforms With Strict Age Verification Rules

Australias internet regulator has warned that search engines and app stores could be required to block artificial intelligence services that fail to implement age verification systems by an upcoming compliance deadline....

AWS Data Center in UAE Hit by Fire After Objects Strike Facility Amid Regional Tensions

Amazon Web Services (AWS) confirmed that one of its data centers in the United Arab Emirates experienced a temporary power shutdown after objects struck the facility, causing sparks and a fire. The incident occurred at...