Word: departmentals
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The stock-loan department, AIG's other disaster, took the cash it got for lending out stock owned by AIG and invested the money in esoteric securities rather than in risk-free Treasuries, the standard practice. The idea was - I'm not kidding - to make an extra one-fifth of...
"When you pass along that wealth, you reveal it, and you can't exclude others from using it," says Samuel Bowles, an economist at the Sante Fe Institute, who led the study with anthropologist Monique Borgerhoff Mulder of the University of California, Davis, and economist Tom Hertz of the International...
“I think it’s fair to say I’m more liberal than most of my colleagues,” says Marglin, whose most recent book was titled: “The Dismal Science: How Thinking Like an Economist Undermines Community.?...
But six years ago, Marglin found a permanent pulpit for those views in the form of a core class, overcoming the opposition from his own department. His revolutionary course—designed after a coalition of undergraduates known as Students for Humane and Responsible Economics (SHARE) formed a petition lobbying...
The course’s distinctive, left-leaning flavor was readily apparent against the backdrop of a department that appeared to have accepted the elevation of “mainstream economics” to a “fairly hegemonic position,” according to Marglin. By the time...