Word: economisters
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...first put in place last year, to allow the agency to expand into pricier markets. "The government may need to inject billions of dollars into the FHA, but the alternative - another perturbation in the housing market, more foreclosure aid, more bank bailouts - could have cost dramatically more," says housing economist Thomas Lawler...
There's nothing like financial Armageddon for reviving the work of an old economist. Amid the recessionary doom and gloom, the world has channeled Adam Smith, dusted off John Maynard Keynes and revisited Eugene Fama. In recent days, it's been James Tobin's turn. Close to four decades since the Yale economist proposed a levy on foreign-exchange transactions - or a "Tobin tax," as the suggestion became known - the idea is enjoying a new lease of life. At a meeting of G-20 finance ministers last weekend, British Prime Minister Gordon Brown suggested the group of leading countries consider...
...financial-market transactions, stretched beyond foreign-currency trades to cover stocks, derivatives and other clever instruments, might offer twin benefits. By slapping an additional fee on each transaction, the tax "would naturally drive [investors] toward those that are more sensible, more profitable, more rational," suggests Julian Jessop, chief international economist at the consultancy Capital Economics in London. What's more, even a modest levy on the world's financial markets - Tobin first proposed a 1% charge on currency deals, before advocating even lower rates - would generate hundreds of billions of dollars in revenue. (See pictures of London during the financial...
When the economic crisis hit China late last year, by contrast, almost half of the emergency spending Beijing approved - $585 billion spread over two years - was directed at projects that accelerated China's massive infrastructure build-out. "That money went into the real economy very quickly," says economist Albert Keidel of the Carnegie Endowment for International Peace...
...chief economist for the IEA, Fatih Birol, disputed the Guardian's report. "I don't see any particular encouragement from the U.S. or any other of our governments," he told TIME on Tuesday. He said the accusations about the IEA's downplaying of the world's tightening oil supplies surprised him, since "we have said that oil production is declining in existing fields sharply," he said...