service industry

Sad to See Friendly's Fail, But It Was Inevitable

This ice cream lover is sure she's not alone in harboring affection for Friendly's, which started out as a Depression-era ice cream shop. But when its parent company filed for Chapter 11 bankruptcy protection Wednesday, she certainly wasn't surprised.

America's Malady: A Bad Case of 'Baumol's Disease'

No, it's not a new plague. Rather, it's a little-known economics thesis that explains why uneven productivity gains in different sectors can have a huge impact on everything from consumer spending to government deficits. The latter is the nastiest side effect.