Word: economisters
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Laffer is a bona fide economist with a doctorate from Stanford. He's also largely responsible for the Republican belief that tax cuts pay for themselves. Now 67, Laffer runs economic-consulting and money-management firms in Nashville. About the best I could get out of him on the question of whether the Bush tax cuts have paid for themselves was "I don't know." But that's only part of the story...
...blamed for climate change? According to economics professor Charles D. Kolstad from the University of California at Santa Barbara the answer is no. “The economy as it currently functions does need changing, but that’s not the same as saying economists need to change their tune,” Kolstad said. Kolstad, a lead author for the Intergovernmental Panel on Climate Change and a co-recipient of the 2007 Nobel Peace Prize, discussed climate change yesterday afternoon at the Kennedy School of Government using a colorful PowerPoint presentation complete with graphs and charts. Kolstad began...
...also said some could interpret the defeat as proof that the Venezuelan government is indeed a democracy. “If somebody can turn a defeat such as this into a success, it’s him,” Ortega said of Chavez. But Harvard economist Ricardo Hausmann said he did not think the results will prevent Chavez from seeking power in the future. “I think we have to keep being vigilant,” Hausmann said in an interview yesterday. “He didn’t get the votes last night...
First, of course, there's hardly any certainty that the dollar will keep falling. Mark Zandi, Chief Economist of Moody's Economy.com, believes the free-fall might be slowing: "I think the dollar is near a bottom via the Euro, pound and Canadian dollar. Foreign exchange markets are already pricing in a very weak if not recessionary U.S. economy and substantial Fed easing." And while he thinks the dollar still has further to go in relation to the Chinese Yuan and other Asian currencies - he predicts another 5% to 7.5% until early in the next decade, when he thinks...
...that the 1980s and 1990s, both decades of especially unfettered capitalism, were the second-slowest and slowest periods of real global growth since World War II, respectively (3.3 percent in the 1980s and 2.3 percent in the 1990s versus 4.9 percent from 1950-1973). In the same vein, the economist Branko Milanovic has argued that “the record of the last two decades (1978-1998) is shown to be almost uniformly worse than that of the previous two (1960-1978),” when state management of the economy was widely accepted as common sense...