Word: economisters
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...from inviting controversial speakers.” Worse, it would not be a university but a factory, producing scores of unchallenged, uninformed graduates. The sole criteria for inviting a speaker should be the contribution they can make to an intellectual community. By this measure, Summers—a renowned economist, former Secretary of the Treasury, and former president of Harvard—is eminently qualified, regardless of what one thinks of his personal beliefs. This is particularly true given that Summers will be speaking on reforming undergraduate education, a subject to which he has given much thought. The reception that...
...shift doesn't explain all the improvement in the government's financial situation: corporate tax receipts have risen a lot since 2003 as well. That gain is the result of a postrecession recovery in corporate profits, plus the expiration of some Bush tax breaks--plus, speculates University of Michigan economist Joel Slemrod, a decrease in corporate tax avoidance in the wake of the scandals of 2002. It's widely assumed that this corporate tax boom will soon tail...
John Kenneth Gailbraith'shousekeeper never had a problem saying no. One day President Lyndon Johnson called the Galbraith house wanting to talk to the great economist, who had lain down for a little shut-eye. "He's taking a nap and has left strict orders not to be disturbed," said the housekeeper. Johnson replied, "Well, I'm the President. Wake him up." The response: "I'm sorry, Mr. President, but I work for Mr. Galbraith, not for you." Click...
Unlike a lot of the pugnacious leaders LatinAmerica is known for, Felipe Caldern doesn't look the part of the tough guy. The new President of Mexico is short and bespectacled, an owlish lawyer and economist who evokes technocrats like Michael Dukakis. When he visited Mexican troops battling drug gangs in western Michoacn state earlier this year, Caldern donned an olive green army jacket and a five-star general's cap and was later photographed in a military Hummer. That incongruous image conjured unflattering comparisons to the tank ride that doomed Dukakis' U.S. presidential hopes...
...major tool of financing." Investors who thus savaged the stock of, say, Caterpillar Inc., a heavy-equipment maker in Peoria, Illinois, because they feared the company's booming China business was suddenly going to fall off the cliff should probably rethink that a bit. As Jun Ma, the chief economist for greater China at Deutsche Bank in Hong Kong, says, "We do not see any significant impact of this market correction on China's real economy. We remain bullish on the fundamentals of the economy," which is still steaming ahead this year at a growth rate of nearly...