Thomas Smith joined the Goizueta Business School faculty in 2008. He has held faculty positions at the University of Illinois–Chicago, National-Louis University, Loyola University, and North Central College. Smith received a PhD in labor and demography/cultural economics and policy from the University of Illinois at Chicago in 1998. He holds a BA from Illinois Wesleyan University. He has presented dozens of papers at academic and professional conferences in the U.S. and abroad. He has served as a consultant for the arts, music and entertainment industry (National Endowment for the Arts, Joffrey Ballet of Chicago) and in curriculum development (University of Illinois-Chicago, Buck Institute for Education).
Areas of Expertise (7)
University of Illinois at Chicago: Ph.D., Cultural Economics and Policy in Labor and Demography 1998
University of Illinois at Chicago: M.S., Economics 1994
Illinois Wesleyan University: B.S., Economics 1992
Media Appearances (11)
Talk rising of possible recession, trade key danger for Atlanta
The Atlanta Journal-Constitution print
Tom Smith watches each Sunday morning for signs of recession at Panera Bread. It’s telling: The size of the crowd, the attitude of the families – are they enjoying the chance to relax and spend a little money on themselves, the way people do when they have a few dollars extra, or are they anxious about keeping their jobs and paying their bills?
Equifax breach could shake consumer confidence, cut spending
The Atlanta Journal-Constitution online
“No one is talking about this like it’s a crisis yet, but economic recessions can be caused by all kinds of reasons. You can have an economic shock because of many kinds of things.”
Las Vegas Shooting Means Rethinking High-Rises Near Public Venues
Even if the tragedy in Las Vegas prompts some stadium or venue owners to rethink the layout or height of the mixed-use portion of projects, it would be hard to convince development community to go along with that.
MARTA tax increase begins in Atlanta, others follow in Fulton April 1
Atlanta Journal Constitution print
For many Atlantans, the sales tax increase will likely have a minimal impact, said Tom Smith, a labor economist with the Goizueta Business School at Emory University.
Experts: Economic Impact Doesn’t ‘Hinge’ On Falcons, Braves Performance
When it comes to how much money they make in the long term, it will not matter if the Atlanta Falcons win the Super Bowl. What will really matter is whether the Falcons’ new Mercedes-Benz Stadium will attract mega-events to the city.
Brexit Impact: Short-Term Volatility, Long-Term Uncertainty
Smith said the vote's impact on Atlanta will be small, but there are larger issues to consider.
"Locally, the United Kingdom isn't a very significant trading partner. It's not like this was a referendum in Germany, which is huge to Atlanta," Smith said. "The real impact is the uncertainty that's been created in the global economic market because you don't know what's going to happen to these currencies."
What the New Overtime Rules Mean for You and Your Boss
As you are probably aware, some employees are exempt from being paid overtime, meaning their employers don’t have to pay them extra when they work over 40 hours in a week. The Fair Labor Standards Act outlines the criteria for this exemption.
Economists predict big windfall for Atlanta with Super Bowl coming to town
"That doesn't count, well, these people would have been here anyway, or some people from town would have gone to the Super Bowl, or some people from town bug out, because it's too crazy around the Super Bowl," Smith explained.
Social Security, Ponzi Schemes and Why the Government Isn't 'Stealing' Your Money
The Huffington Post online
Last night's Republican debate was focused squarely on the economy, on topics ranging from tax reform to income inequality.
That's an improvement from the previous debate, held two weeks ago, which was also supposed to be about the economy. Unfortunately the candidates didn't talk too much about that -- they were often too busy trashing the moderators (though to be fair, the moderators' questions did have an edge and did stray from "core" economic topics that most of us would expect)...
Trump's Wall and the Cost-Benefit Analysis of Immigration
The Huffington Post online
Two of the top GOP presidential contenders each claim professional creds that trump political experience (pun intended).
Trump's empire, according to him, has a net worth of US$10 billion and is the only line on his CV that counts. "If you can run a huge business, you can run a country," he seems to be saying...
Where have all the workers gone?
Thomas Smith, labor economist at Emory University’s Goizueta School, said lower participation may reflect post-recession choices: The drop-outs are people who were a second paycheck in a household, people who could save money on commuting or childcare costs, people who had savings and were old enough to qualify for social security and Medicare.
Moreover, passage of the new health care law meant many workers didn’t need to stay in jobs just for the health insurance.
“I don’t see falling participation as a problem,” he said. “I see it as an opportunity to evaluate what the choices are. Everybody wants to say, ‘It’s a good thing, it’s a bad thing,’ but I don’t think so.”...