Word: economisters
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Once again, just as it has prevented rain from falling on Commencement Day for the last 361 years, Harvard has defied gravity. When Princeton, Yale, Stanford, MIT and the University of Pennsylvania announced their decisions to offer more generous financial aid packages earlier this year, any Harvard-trained economist might have expected that a price war would drive down the costs of a Harvard education...
...reforms instituted by Thatcher and denounced at the time by Labour. So state industries remain privatized, unions are still reduced in power, businesses deregulated, and government spending held in check. That stance irritates Conservatives, who feel Blair is getting the credit they deserve. Blair, grumped the right-of-center Economist, is the "strangest Tory ever sold...
...road to acceptance. "Between 40% and 50% of transactions today use cash and checks," says Steve Cone, an executive at Fidelity Investments. "The percentage is going down, but slowly. It's like Chinese water torture." And there are plenty of folks who still like cold cash just fine. Says economist Bruce Skoorka: "Look, every day there's a guy who shows up at a bank in Bogota with a big box full of cash. You think he wants to travel with a traceable digital-cash card...
...private sector," he observed in a 1996 paper. "As financial systems become more complex, detailed rules and standards have become both burdensome and ineffective." In fact, many governments are competing with one another to see who can offer the fewest regulations. And the money is following right along. Economist Skoorka calls this regulatory arbitrage--the flight of money from highly regulated markets to barely regulated ones...
Viewers should not look for a coherent rationale for economic or political reform in this film. If they do, they will miss its true value. Moore is not an economist, nor is he a politician; he does not have the expertise of Martin S. Feldstein or Milton Friedman. Nor is this his goal. When someone in the film suggests he run for President to send a message, Moore himself quipped, "What would be the message--eat out more...