Word: economists
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Dates: during 1990-1999
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...Obasanjo is the only Nigerian military dictator ever to have relinquished power to an elected civilian government. That was back in 1979, although his elected successors were overthrown by General Ibrahim Babangida in 1983, and the military has governed ever since. Falae is a Yale-educated economist who served as Babangida's finance minister, although he campaigned against Obasanjo on the grounds of the general's links with the military. The deeper issue may be tribal: Falae and Obasanjo are both members of the Christian Yoruba tribe from the southwest, but Obasanjo has the backing of much of the north...
...Greenspan's interest-rate cuts during the fall. The link between the Dow and the GDP means that a major correction in the stock market could send the trio's fondest hopes into the dustbin. "They have done a masterful job so far," says Stephen Roach, a Morgan Stanley economist. "Unfortunately, in financial markets you are only as good as your last move. If Greenspan's legacy is a stock-market bubble, he will not be treated kindly by history...
Microsoft is also flummoxed by the government's claim that its allegedly monopolistic practices have hurt consumers. Microsoft argues, with some justification, that PC software has been rapidly improving and continues to do so. As for price, Microsoft's lead witness, economist Richard Schmalensee, testified last week that if it were a monopoly, Microsoft would charge at least 16 times as much for Windows as it actually does. Microsoft makes much of the fact that the government's economist, Franklin Fisher, testified that consumers weren't being hurt by Microsoft's actions in the Internet-browser market. Of course, Fisher...
...buzz about yet another Oval Office affair. This one has nothing to do with Monica--or Bill. The latest White House romance unfolds in a novel called Face-Time by Erik Tarloff, a screenwriter and occasional Clinton speechwriter who's married to Laura Tyson, formerly Clinton's top economist. But the reason people are talking about Face-Time, which Tarloff began long before the Gap dress went under an FBI microscope, isn't that it offers an insider's look at explicit sex. These days you can get that on C-SPAN. In fact, the book's treatment of matters...
Allen Sinai, chief global economist for Primark Decision Economics, a prominent forecasting and consulting firm, is close to Reaser on overall numbers; he predicts 1999 GDP growth of 2% to 2 1/4%. But his tone is considerably less cheery. Many economists, he notes, would consider a 2.5% increase "a trend rate of growth"--that is, roughly what the U.S. could expect to average over a long period. Sinai, however, belongs to a "new economy" school that believes rising productivity makes a 3% annual average possible. Thus he views next year's likely increase to be significantly below potential--perhaps meriting...