Economics

Universities and K-12 schools are in the business of human capital development. Human capital is education, training, and other forms of learning. Human capital is seen as an investment, just like physical capital, where the costs are paid upfront and the returns are received later. A recent paper by David Deming in the Journal of Economic Perspectives reviews our knowledge of human capital. An extra year of schooling increases earnings by about 10 percent. Given that the share of the world’s population that has at least some secondary school education

For the second year in a row, several downtown businesses are collaborating to bring their customers a unique shopping experience. Downtown Soul City, a Facebook page, has announced its second annual Small Business Saturday Crawl, which will be held on Nov. 26 beginning at 10 a.m. at Augusta & Co., located at 1010 Broad St. Many businesses, including The Book Tavern, Fetch 501, Grantski Records, and Tiffinie Bleu Bridal Boutique, will participate in this year’s event. Sponsors include Kruhu and Mod Ink. Each of the first 200 shoppers will receive

As Thanksgiving and Christmas draw near, many people think about making charitable donations – for both altruistic and tax reasons. For people who don’t take the standard deduction on the 10-40 form but itemize instead, items like donations to charities can help reduce the amount of money you owe to the government. So, if you’re looking to shave a little off the amount of tax the IRS will collect, there are a few important things to keep in mind. Make a qualified gift. Make sure the organization you’re giving to

Americans drawing money from Social Security received some good news for 2023 with a cost-of-living adjustment (COLA) designed to keep up with inflation. The Social Security Administration (SAA) announced last month that it would implement an increase in benefits of 8.7 percent. The new rate will go into effect in January. For many recipients, this will amount to a monthly addition of $140-150. The SAA distributes funds to retired senior citizens, as well as to those who are disabled and to widows, widowers, and children of deceased workers. The 8.7

Employment in the Augusta Metropolitan Statistical Area inched up by 200 jobs in September to stand at 244,400, but employment locally remains below pre-pandemic levels. With little change in total employment, it is not surprising that there was little change in employment in many industries. Industries seeing a decline in employment include leisure and hospitality with a decline of 600 jobs and professional and business services falling by 1,325. There was an improvement in other labor market indicators with average weekly earnings increasing at 8.5 percent on an annual basis

  Dr. Rick Franza, Dean of the Hull College of Business, discusses a different, timely business topic each Monday in this column. This week, he talks about the impact of inflation on nonprofit organizations. The interview has been edited for clarity and impact. ABD: With inflation still at a 40-year high, many companies are facing increased costs that will probably be passed on to customers through higher prices. But what is the impact of inflation on nonprofits that rely on donations and grants? Rick: It’s a double whammy for them.

Columbia County is on its way to bringing in $288 million over the next five years, one penny at a time. On Tuesday, voters approved extending the Special Local Option Sales Tax (SPLOST), with about 60 percent voting yes on the ballot. SPLOST adds a penny per dollar to the local sales tax. That extra cent goes toward a fund the county uses for a wide range of improvement projects, including roads, schools, public safety, and parks and recreation facilities. Tuesday’s vote authorizes SPLOST for 2023-28. During that time, the

It is well known that General William Sherman did not attack Augusta during his famous military march during the American Civil War. His march destroyed property and confiscated livestock and crops. (Interestingly, Confederate General Joseph Wheeler, the main opposition to Sherman, was also under orders to destroy property and crops). In a letter to the editor of the Augusta Chronicle, Sherman explained that he did not need to attack Augusta; he wanted to get to Savannah so the Union Navy could re-supply him. A recent paper in American Economic Journal: