Word: crowding
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...What Summers proceeded to offer was, in fact, an unusually candid insight. And though couched in jargon, it was an insider's confession of why our present economic moment is fraught with both danger and opportunity. There appears to be, Summers told the suddenly very attentive crowd, a strange bit of physics working itself out in our economy. The problem is related to a hiccup in an economic rule called Okun's law. First mooted by economist Arthur Okun in 1962, the law (it's really more of a rule of thumb) says that when the economy grows, it produces...
...faster than Okun's law predicts. According to that rough rule, we should be at about 8.5% unemployment today, not slipping toward 10%. Something new and possibly strange seems to be happening in this recession. Something unpredicted by the experts. "I don't think," Summers told the Peterson Institute crowd - deviating again from his text - "that anyone fully understands this phenomenon." And that raises some worrying questions. Will creating jobs be that much slower too? Will double-digit unemployment persist even after we emerge from this recession? Has the idea of full employment rather suddenly become antiquated? Is there something...
...security—has never faced the embarrassment of a successful heist. Still, a few crimes have been attempted, according to one Sackler guard. One Degas showed subtle signs of being cut out of the frame, although the culprit was never caught in the act and disappeared among the crowd...
...Show” certainly helped attract attention to the project. As they grooved and sang such classics as “We are Family,” a spontaneous dance party sprung up in the middle of the Yard, with participants ranging from toddlers to senior citizens.Included in the crowd of wide-eyed spectators was Paul McLaughlin, Assistant Dean at the College. “Faust is definitely kicking Common Spaces off with a very fun first day. I think it’s a great way to make people come out—look how many chairs are full...
...emphasized that the public option was non-negotiable. “The single-payer is one position; the present system is another position. What we’re advocating with the public option is the compromise,” he told the mostly middle-aged and elderly Cambridge-area crowd at the First Parish Church at an event sponsored by Harvard Book Store. “We’re not going to compromise anymore because that is the compromise already.” Though he avoided calling out the White House as spineless for suggesting compromise, he joked that...