Word: economisters
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...claim to a quarter of the planet's land surface and its people. The tale he tells is astonishing - but what really astounds is Ferguson's glowing praise. Contemporary historians routinely decry the Empire's sins; Ferguson celebrates it for dragging the world into the modern age. As an economist, Ferguson is particularly good at explaining how the assets seized by Elizabethan buccaneers fed, in the 18th century, the habits of an emergent consumer society hooked then as now on sugar, coffee and tobacco; how Britain evolved a system of national debt to build a vast navy; how the East...
...include a Wall Street savant, similar to Clinton Treasury Secretary Robert Rubin, on his economic team. Instead he made Alcoa CEO Paul O'Neill, who shared Bush's negative views of Wall Street, his secretary of the Treasury. As his national economic adviser Bush chose Larry Lindsey, an economist and former Fed governor who was so suspicious of the markets that he refused to invest his own money in them. O'Neill and Lindsey are now gone, and in Lindsey's place is former Goldman Sachs co-chairman Steve Friedman, the kind of Wall Street sharpie Bush once loathed...
During the days, the students will be divided into two age groups to take specially designed classes, from Harvard’s top professors—including a lectures by University President and economist Lawrence H. Summers, Bass Professor of Government Michael J. Sandel, IBM Professor of Business and Government Roger Porter, W.E.B. DuBois Professor of the Humanities Henry Louis Gates Jr. and chemistry demonstrations from Nobel Laureate Dudley Herschbach...
...pressure on the country's new stock cop is palpable. Shang Fulin, a little-known technocrat, landed in the hot seat last week when he was named chairman of the China Securities Regulatory Commission (CSRC). His challenge: to impose order on a stock market that a leading Chinese economist once described as worse than a casino (because "at least casinos have rules"). Shang arrives at a precarious juncture. Even as China's GDP has grown 8% annually, its market has sunk more than 40% since its June 2001 peak. Stock-rigging scandals and lax corporate disclosure have sapped investors' confidence...
...CSRC's proposed reforms should actually be shelved because the policies will hurt the widows and orphans who spent their last fen on stocks. "The government sold shares to the people for far too much money, and it can't let the market die now," argues Yang Fan, an economist at the Chinese Academy of Social Sciences who has written extensively on the defense of small investors...