Word: economisters
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Jared Bernstein, senior economist at the Economic Policy Institute, says the frustration of these educated workers is what gives the debate over outsourcing such intensity. "There is no safety net for $80,000-a-year programmers," he says, and perhaps there shouldn't be. Their education is supposed to provide that. Bernstein says that after the factory closings of the 1980s and the emergence of the "knowledge economy," many liberals and conservatives alike had reached a consensus that manufacturing jobs could not be saved but the "lab coat" jobs would always stay here. "Now that vision is under siege," Bernstein...
...does not help that a White House that has set the modern standard for message management has been sending up flares in recent days that illuminate for the most jittery Americans the fragility of their situation. First came the observation by Bush's top economist Gregory Mankiw that outsourcing jobs overseas is "probably a plus for the economy in the long run." That may be true in theory, but the statement was so impolitic that even such staunch Bush supporters as House Speaker Dennis Hastert were furious. "An economy suffers when jobs disappear," Hastert said. And so do politicians...
...name of feminism, the campus—and the nation—erupted into an impassioned debate on the merits of a snow depiction of male genitalia. The Wall Street Journal, The Boston Globe and The Washington Times all devoted editorial space to discussing the issue. The Economist was inspired enough to write an article arguing that the destruction of the sculpture was compelling evidence of American prudishness. “What is political correctness but Victorian prudery in modern dress?” asked the article’s author. The infamous snow phallus picture on TheCrimson.com had over...
...Tomorrow I’m going to hear [economist] Stanley Fischer speak at Adams,” Saha said. “When would I have had the opportunity to do that at Wellesley...
...steel, China is building up excess capacity at a breakneck pace. The country's economy grew 9.1% last year and attracted $53 billion in foreign investment, second only to the U.S. economy. The emerging middle class pushed retail sales up 9% in 2003, but industrial output shot up 17%. Economists warn of a crash waiting to happen: if too many factories make too many goods chasing too few buyers, the results are likely to be deflation, widespread business failures, layoffs, loan defaults and shaky banks. And with many other Asian countries retooling their economies to fuel China's boom...