Word: economisters
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...Americans have a debt problem? Big time. Nearly 14% of our disposable income goes to repay loans, the highest level since 1986, according to economist Cynthia Latta at Standard & Poor's. Credit-card debt and total household debt are at record highs relative to personal income. Even if you sweep aside thoughts of recession, it still makes sense to pay down debt as rates rise. Most debt, including credit cards, home-equity lines and many mortgages, carries variable rates, so your costs will be increasing...
...favorite lines of speculation comes from Harvard historian and economist David Landes, who, after much subtle analysis (of the low rate of Argentine savings, for example, or the intense communal focus of the Japanese), returns unexpectedly to a conclusion of such radiant common sense that one wants to put him up for the Nobel Prize. His conclusion: optimism pays...
There is one basic explanation for this. As the libertarian economist Friedrich von Hayek once pointed out, the bulk of information generated in any economy is local in nature. If this local information has to be processed through a centralized hier- archy--whether government ministry or even overly large corporate bureaucracy--it will inevitably be delayed, distorted and manipulated in ways that would not happen in a more decentralized economic-decision-making system. The U.S.S.R. used to have an office called the State Committee on Prices, where a few hundred bureaucrats would sit around setting every price in the Soviet...
...totally logical, say economist Kevin Hassett and journalist James Glassman, who argue in Dow 36,000 that stocks are both safe and undervalued. Not so fast, says Yale economist Robert Shiller, whose Irrational Exuberance says the market is headed for decades of trouble. The two sides had it out in a TIME debate...
...world is going through more fundamental change than it has in hundreds, perhaps thousands of years. The head economist at Sandia National Laboratories, Arnold Baker, said it's the "biggest change since the cavemen began bartering." Do you want to be a player, a full-scale participant who embraces change? Here is the opportunity to participate in the lovely, messy playground called "Let's reinvent the world...