Retailers usher in holidays with deep discounts

Retailers usher in holidays with deep discounts

Shoppers begin heading to stores across the country on ‘Black Friday’

Updated: 7:27 a.m. ET Nov. 25, 2005

NEW YORK - Bargain shoppers woke up before dawn to head to the nation’s malls and stores Friday, the official start of the holiday shopping season, hoping to snap up early bird specials on items, from toys to digital music players.

In an improving but still challenging economy, merchants are hoping for big crowds to set a positive tone for the entire holiday season.

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I ask myself, what are the root causes of a "challenging" economy...I could come up with a miriad of speculative thoughts, as an economist, and still not hit the nail in the head. I know there are other economists out there, smarter, brighter, wealthier and better educated than I am asking themselves the same question...

As a behavioral science, Economics will never, in my estimate, be able to catch up with what the term full employment economies "should be" all about. Statistically, yes, we can achieve full employment provided we set the standard ourselvese: 4 percent, 5 percent unemployment rate, or what have you...

 SOMETHING IS STILL MISSING... But what is it? How do we bridge the gap?

 
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