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In 2007, I estimate that playwrights, artists, photographers and designers created miscellaneous artwork worth $3.3 billion. By category, theatrical play scripts were $1.4 billion, greeting card designs were $0.5 billion and commercial stock photography was $1.4 billion. Taken individually, each of the entertainment categories described earlier are too small to examine in a single paper. Therefore, I combine all three categories into a single paper. These diverse categories of artwork will earn revenue for their creators for decades to come. Because of their long working life, the...

THE Bureau of Economic Analysis (BEA) released its annual update of the national income and product accounts (NIPAs) for 2013-2015 and for the first quarter of 2016 along with the advance estimates for the second quarter of 2016 on July 29. As is usual for annual NIPA updates, the revised estimates reflect newly available source data that are more complete, more detailed, and otherwise more reliable than those that were previously incorporated. The reference year for price and quantity estimates remains 2009. With this update, economic growth from 2012 to 2015 was revised up slightly, but the...

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $41.8 billion in January, down $3.8 billion from $45.6 billion in December, revised. January exports were $189.4 billion, down $5.6 billion from December. January imports were $231.2 billion, down $9.4 billion from December. The January decrease in the goods and services deficit reflected a decrease in the goods deficit of $3.4 billion to $61.6 billion and an increase in the services surplus of $0.5 billion to $19.9 billion....