Word: economist
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...nation Organization for Economic Cooperation and Development in Paris, chief economist Klaus Schmidt-Hebbel argues forcefully that governments should do more to retrain workers and overhaul their labor-market policies to ensure that once recovery comes, new jobs are created in sufficient numbers to swiftly bring the jobless rate back down again. But ask him about the German short-work measures, and he's skeptical. "They can't stop rising unemployment," he says, "they just delay it." Indeed, in its latest economic forecast released March 31, the OECD expects unemployment in Germany to rise from its current...
Orszag has been an unabashed behavioral geek ever since he read that 401(k) study. His deputy, Jeff Liebman of Harvard, is a noted behavioral economist, as are White House economic adviser Austan Goolsbee of the University of Chicago, Assistant Treasury Secretary nominee Alan Krueger of Princeton and several other key aides. Sunstein has been nominated to be Obama's regulatory czar. Even National Economic Council director Larry Summers has done work on behavioral finance. And Harvard economist Sendhil Mullainathan is organizing an outside network of behavioral experts to provide the Administration with policy ideas...
...truly want to make better choices," explains Yale economist Dean Karlan. He's a co-founder of stickK.com, where users make binding "commitment contracts" to forfeit money to friends or charities - or even "anti-charities" they despise - if they fail to quit smoking, lose weight or meet other goals they set for themselves. "But we need help to get us there...
...simply bewildering, which is why it's so easy to stumble into hidden fees and balloon payments tucked in the fine print of our mortgages. Even Ph.D.s can get confused by our society's paperwork; Thaler and Sunstein tell a story in Nudge about struggling to help a health economist pick a prescription-drug plan for her parents...
Back when we had a functioning financial system, the guys who ran private-equity (PE) firms stood very near its pinnacle. "The new kings of capitalism," the Economist called them. The kings of birthday parties too: the $3 million 60th-birthday bash for Blackstone Group chief Stephen Schwarzman in February 2007 will go down in history as a glaring sign that the boom was about to go bust...