Word: economisters
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...have tremendous spending power. Interior designers, domestic staff, schooling for their children, bars, restaurants, taxis, and more." On the other hand, "If a rich person brings $1 million into the economy, not all of that $1 million is going to filter into the wider economy," says Jonathan Said, senior economist at the Centre for Economic and Business Research. "A relatively small proportion of what they spend would feed through, compared to a middle-class person." The tabloid headlines scream out FAT CATS GETTING FATTER, but some argue that their contribution to the local economy doesn't matter, saying that...
...that's not enough. A growing number of critics are crying foul over the tax-exempt status of London's wealthy expatriates. "As a foreigner in this country you can make an enormous amount of money, but the numbers who put anything back into this country are trivial," says economist Will Hutton, CEO of consultancy the Work Foundation. There are a handful of foreigners at the top of the Sunday Times Giving List, a record of charitable donations by the rich and powerful, but Hutton wants to see more. "I would like to see people endowing universities, backing social entrepreneurs...
...house prices continue their fall. But on balance, the denizens of Davos would be well advised to keep up their sunny spirits. Taking the long view, the global economy is at a remarkable moment. Whatever the chance of a recession this year, the U.S. has experienced what the economist and former Under Secretary of the Treasury for International Affairs John B. Taylor of Stanford University calls a "long boom" since the Fed started to squeeze inflation out of the system in 1979. For nearly 30 years, Taylor points out, the few downturns the U.S. has suffered have, in historical terms...
...country's baby-step municipal elections in 2005, yet Washington is silent about the systematic repression of women and minorities permitted in the name of religion in the Kingdom. If any Arab leader today deserves to be called a democrat, it's Lebanese Prime Minister Fouad Siniora, a humble economist by training who bravely continues to hoist the banner of the 2005 Cedar Revolution against domestic as well as foreign opponents. Bush won't have time for a stop off in Beirut, however. It could have been a powerfully symbolic show of support for Arab democrats; but Bush will...
...what’s best for them. In most cases, undergraduates deeper into their Harvard education can make a more sensible decision on the language they will focus upon, rather than making a hasty decision freshman year (consider the aspiring doctor with a summer internship in Peru, or the economist with a sudden epiphany to embrace the classics...