Word: blinder
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Dates: during 1990-1999
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According to my well-worn copy of Baumol and Blinder, the key to long-term prosperity in any economy is labor productivity growth. Labor productivity is simply the amount and quality of goods and services an economy can produce per unit of labor. The most important determinant of labor productivity is technology. Over the past 200 years, an explosion of technological innovations has allowed the average standard of living in the industrialized world to shift from subsistence farming to the modern luxuriance we all enjoy today...
...Baumol and Blinder clueless?" I thought to myself frantically. "How can increased productivity of labor help the economy when it leads to layoffs...
...position of vice chair became available when current vice chair Alan Blinder announced last week that he will not seek renomination when his term expires on January 31. Blinder said he will return to teaching at Princeton University, where he worked before assuming his Fed post in June...
...seven member Board of Governors will have two open spots when Blinder steps down because John LaWare, who resigned last April, has yet to be replaced...
...appoint him to a third consecutive term as chairman. Greenspan might like that. Enough to soften his reluctance to reduce rates? If not, there are others on the Fed who are less reluctant. "I don't think there is going to be a recession,'' says vice chairman Alan Blinder, a Clinton nominee who thinks job creation is as important a mandate as Greenspan's focus on inflation fighting. "But I am worried about...