Word: economisters
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This logic turns the new economy philosophy on its head. "This is new," says Lawrence Kudlow, chief economist at Schroder & Co. "No government official has previously argued that rising productivity causes inflation and therefore should be reduced." Most economists fervently believe that rising productivity, led by advances in computers and software, is an inflation killer and that there is no such thing as too much productivity growth...
...There is an implicit contract that we will make you the best economist and we'll support you so that when you don't get tenure you can get a good appointment elsewhere," Williamson says...
...shortage of families who can afford elite institutions. Despite annual tuition hikes at Harvard, its applicant pool swelled from 13,029 in 1992 to 18,167 last year. Families that equate price with quality have allowed costs at elite schools to be on "autopilot," says Gordon Winston, an economist at Williams College. Most wealthy families can afford the high tuitions, and poor families get financial aid, but middle-income families get squeezed--and even squeezed...
...including New York and California, have passed laws to guarantee patients the option of getting another point of view. Other legislatures will probably follow suit, which is somewhat ironic. "Second opinions used to be seen as a way to keep [doctors] from overtreating patients," says Todd Wagner, a health economist at the Veterans Affairs Health Care System in Palo Alto, Calif. "Now they're being looked at as a way to keep [patients] from being undertreated...
...secret of his success? "I'm into the mathematical stuff which is why I was accelerated. Most people take econometrics junior year, but I took it freshman year." More important, he says, "I've gotten good advice throughout. My father is an economist so I had an understanding of the kinds of things that would be useful. Marty has been instrumental. [He's] been advising me since the fall of freshman year...