Word: economisters
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...fact, nigh. After an orgy of excesses in the credit and housing markets, a measure of sobriety and restraint may have a useful cleansing effect. That said, tremendous risks remain - not least a mounting threat of a U.S. recession. Surveying this treacherous landscape, Paul Donovan, a global economist at UBS, predicts: "It's going to be very unpleasant but it's not a disaster...
...course, the "core problem" is the U.S. property market, says Han de Jong, chief economist for ABN Amro in Amsterdam. "In hindsight, the housing market in the U.S. was a bubble." The cause? Superlow interest rates that encouraged lenders to offer loans to virtually anyone, even those with bad credit. Those loans were then bundled together into exotic derivatives and sold off to financial institutions worldwide; when borrowers began to default on their mortgages, money managers from São Paulo to Seoul suffered huge losses...
...Inconvenient Truth” over the summer. Perhaps the campus’s most venerable Prius owner is former University President Derek C. Bok, the political scientist who served a second stint in Mass. Hall last year on an interim basis. He replaced economist Lawrence H. Summers, whose controversial leadership style was occasionally mentioned in the same breath as his choice of wheels—a black chauffeured Lincoln Town Car. His successor, Drew G. Faust, owns a Honda Accord, though she says she prefers to walk to work...
Other green-conscious professors contacted by The Crimson bragged about their fancy bicycles. Economist Emmanuel Farhi says his bike is “very powerful,” and physicist Gerald Gabrielse notes that his is made of titanium. Still others, such as economist Matthew Nunn, mathematician Bret J. Benesh, English professor Elizabeth D. Lyman, and political scientists Glyn Morgan and Cindy Skach said they used Zipcars when they needed mechanized transport. “Nearly everyone I know uses them,” Morgan says of his Cambridge neighbors. The Zipcar service allows people to rent cars quickly...
...Jacobsen does leave Harvard for MIT, it would be latest chapter in a long history of faculty moves between the two schools. In recent years, Harvard has attracted many top scholars from MIT, including behavioral economist Sendhil Mullainathan in 2004 and psychologists Elizabeth Spelke ’71 in 2001 and Steven Pinker in 2003. Harvard’s previous president, Lawrence H. Summers, came to Harvard as an economics professor from MIT, becoming at age 28 one of the youngest tenured professors in the University’s history...