Word: economisters
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...does to the United States. But developing nations have been anything but safe havens in the recent turmoil, indicating that the decoupling theory will now be tested with a vengeance. "There's no question the slump in the US will have hurt [Asia's] exports," says Shanghai-based economist Andy Xie. Morgan Stanley's Roach believes decoupling is "one of those nice theories you hear at the top of market bubbles." The fact is, Roach argues, "that Asian consumers are too small to make up for the void created by U.S. consumption...
...says David Buik at London brokers BGC Partners. The list of those investors' worries is growing. Despite a $150 billion package of tax cuts and other economic stimulus unveiled by President Bush last Friday, a recession in the U.S. remains "more likely than not," says Gabriel Stein, chief international economist at Lombard Street Research in London. The reason: markets can still only guess the scale of losses incurred by banks caught up in the collapse of the U.S. subprime mortgage market. With those banks themselves still somewhat in the dark - even after writing down tens of billions of dollars linked...
...Committee, designed to bring fresh ideas and test old ones, is part of Zapatero's bid to sustain the momentum of his government's efforts at reform. Made up of 14 world-renowned experts - including Nobel Prize-winning American economist Joseph Stiglitz; Australian anti-nuclear expert and Nobel Laureate Helen Caldicott; ex-Senior Vice-President of the World Bank, Nicolas Stern; and Maria Joao Rodrigues, an architect of the E.U.'s Lisbon Agenda - the council offered a slate of ideas that, if put into action, would position Spain on the cutting edge of international, environmental, economic and social justice policy...
STEPHEN LEACOCK, humorist and economist...
This explanation of infatuation was devised by the economist Robert Frank on the basis of the work of Nobel laureate Thomas Schelling. Social life is a series of promises, threats and bargains; in those games it sometimes pays to sacrifice your self-interest and control. An eco-protester who handcuffs himself to a tree guarantees that his threat to impede the logger is credible. The prospective home buyer who makes an unrecoverable deposit guarantees that her promise to buy the house is credible. And suitors who are uncontrollably smitten are in effect guaranteeing that their pledge of love is credible...