Word: economisters
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...need to stand by and watch a country go communist due to the irresponsibility of its own people." Beckett does emphasize, however, that the monetarism that became Chile's economic creed under Pinochet, and Britain's under Thatcher, was imported from the University of Chicago. Economist Milton Friedman, who was to become a guru to future Thatcher adviser Alan Walters, "rejected the socially conscious economics that had dominated the thinking of democratic governments since the Great Depression of the 1930s," writes Beckett. Under Pinochet and Thatcher, emphasis on the rough-and-tumble of the free market "had unpleasant implications...
...Sustainability is in the eye of the beholder - and Democrats and Republicans have very different ideas of how much money is required to guarantee prescription coverage. Andrew Rettenmaier, an economist at Texas A&M University who specializes in analyzing Medicare policy, believes we need to prepare ourselves for the inevitable sticker shock of prescription drug coverage, and thinks the best way to do that is to imagine what might happen if we didn't create coverage in the first place. "Medicare currently covers about five percent of what seniors pay for drugs," Rettenmaier says. That means 95 percent...
...Malaysia's image has been rejuvenated by its efforts to restructure the corporate sector, impose discipline on the stock market and weed out questionable characters. Malaysia has suddenly become the darling of financial analysts. "Laws and regulations are being applied impartially," enthuses P.K. Basu, who is chief Southeast Asian economist for the merchant bank Credit Suisse First Boston in Singapore. "Some previous transgressions are even being punished...
...When One Man Gets Too Much." Gunasegeram chronicles past disasters that he blames on cronyism, charges that they have cost the government billions to clean up, then concludes by wondering, "Whatever happened to open tenders? And to the effort to promote professional managers and institutionalize shareholdings?" Says a respected economist who asked for anonymity: "Same play, different actors...
...hiring queue, behind the horde of anxious college grads, are the high school students who lack either the money or the grades or the inclination for higher education. Northeastern University economist Andrew Sum points out that 1 in 10 teenagers lost a job during the recession. Meanwhile, the Bush Administration is trying to cut funding for federal job-training programs for young adults, even though independent studies have shown that for every dollar spent on programs for disadvantaged youth like Job Corps, society saves about $2 from increased productivity and lower costs related to crime and welfare. Jessica Collins...