Word: economisters
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President Bush has spent the week rallying international support for a long war in Afghanistan, but Britain's Economist warns that Washington's public relations effort may be too little too late. "In Europe, support for the war is slipping," the magazine writes. "In the Middle East, opposition appears to be mounting." It warns that despite new and creative propaganda efforts by Washington, success depends on enlisting Arab and Muslim spokesmen to dress down bin Laden...
...Some economists are worried that the hardship suffered by these invisible jobless could worsen the economic slump as they cut back their spending on everything from clothing to car payments. "Any stimulus package that doesn't reach these workers who are buffeted by the recent changes needs to be altered so that it does," says Jared Bernstein, a labor economist at the Economic Policy Institute, a union-backed think tank in Washington...
...entry will drive 10 million more Chinese farmers to look for work in overcrowded cities, where they will compete for jobs with people laid off from state-owned enterprises. "Cutting agricultural subsidies will be the most difficult thing China has to do for WTO," says Pu Yonghao, a senior economist at Nomura International in Hong Kong. "There are serious doubts whether they will be able to pull it off without too much social unrest...
Most important, the U.S. economy today uses far less oil to produce each dollar of value in the economy than it did at the time of the last oil shocks. Says John Femly, chief economist at the American Petroleum Institute: "We've become much more efficient in our use of energy." In 1981, expenditure on oil amounted to 8% of GDP; by 2000, the figure had dropped to just 2.5%. Better-insulated homes and businesses, more efficient appliances and assembly lines and even automobiles--notwithstanding our enduring passion for SUVs--have reduced the economy's vulnerability to energy shocks...
...very inception: “It contains several people who have an explicit pro-living wage agenda and it contains no one with an opposing agenda.” A curious locution. Who, if not Hoxby, opposes the progressive economics of a living wage at Harvard? As a conservative economist who does not otherwise hide her criticism of unions in her scholarship on school choice and who clearly wants a chorus of opponents of the living wage behind her, she has no good reason to misrepresent her politics on the committee, except, of course, if she wishes to misconstrue...