Word: economisters
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ELECTED. ELLEN JOHNSON-SIRLEAF, 67, former World Bank economist; as President of Liberia; in Monrovia. With 59% of the vote, the "Iron Lady" claimed victory over presidential rival and former international football star George Weah, who lodged a complaint of fraud. Johnson-Sirleaf, the first female President in Africa, must now calm Weah's supporters and start rebuilding the West African nation, which suffered through two civil wars and the misrule of former President Charles Taylor until the United Nations intervened...
...sizeable portion of the world's projection systems are converted, they may not be the money spinner everyone hopes, experts warn. "Distribution, storage, content management, delivery of the content in a safe way - all of that is far more costly than you would assume," says Sacha Wunsch-Vincent, an economist for the Organization for Economic Cooperation and Development. Cinemas that are used to spending minimal amounts on upkeep - fixing a belt here, replacing a bulb there - may have to pay more for service and upgrades. Such issues may slow the revolution, but they won't stop it. Industry bosses...
...worry: the proposal won't get past the blueprints soon. "We all realize the home-mortgage deduction is near and dear to the taxpayer," says James Poterba, an economist at M.I.T. who was on the panel. "But whenever we get to the moment of truth, Congress and the President are going to have to look at it. We believe we've provided important guidelines." In fact, the debate may have another, hidden benefit. If it stirs concern, maybe we'll start to rethink our move-up plans, put our money someplace more productive--and gently...
...weeks ago, a simple internet post shocked me into a new way of looking at this discussion. The post, which originated with Arin Dube, a Berkeley economist who was involved in the 2001 Harvard living-wage movement, was about New Orleans. In 2001, New Orleans overwhelmingly passed a $1 minimum wage increase in a popular referendum. In a shocking bit of judicial activism, the State Supreme Court ruled that the city had no right to regulate wages. The court struck down the new wage law, dropping the wages of many of the poor city’s poorest citizens...
...make for fair and honest markets. Although Bernanke wrote an unpublished novel in his younger days, his reading list swings to the pragmatic. He spent a recent vacation with a book about astronomy and has read volumes about Milton Friedman, whom he regards as the 20th century's greatest economist for his arguments on the power of free markets...