Word: economists
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Dates: during 1990-1999
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Malthus was right. So read a car bumper sticker on a busy New Jersey highway the other day, and it got me thinking about the Rev. Thomas Malthus, the English political economist who gave the "dismal science" its nickname. His "Essay on the Principle of Population," published in 1798, predicted a gloomy future for humanity: our population would grow until it reached the limits of our food supply, ensuring that poverty and famine would persistently rear their ugly faces to the world...
...challenges, small business is still bullish. As just one example, the National Federation of Independent Businesses' small-business optimism index, a measure of perceived growth prospects, rose to 102.4 in September, a jump of nearly three points from a year ago. Says NFIB chief economist Bill Dunkelberg: "Small businesses love challenge and change. There's no better time to be a small business...
Forget Wall Street. More than 75 years ago, a Stanford University economist named Thorstein Veblen predicted that one day, engineers would be the true masters of the financial universe. It's technology that drives the economy, he argued, and since engineers create the stuff, it'll only be a matter of time before they come to their senses, seize power and undercut the venture capitalists and corporate bigwigs who make so much dough from other people's brilliant ideas. Veblen was right, it turns out. And though they never met, the man who would lead the revolution was a more...
...instead for idolizing adulthood, making it out to be the opposite of everything I disliked in those my own age. To me all adults were kindly creatures who cared nothing for the vile pursuits of popularity and appearance and who worried only about truly important things. They read "The Economist", knew all about electronics and conversed about biology and classical history. I thought I saw in adults the self-control, compassion and intellectual commitment that I missed in my peers...
...dollar's plight is the first major challenge for Treasury Secretary Larry Summers, 44, the economist who succeeded Robert ("Just Right") Rubin three months ago. Summers' mantra--"A strong dollar is in the national interest of the United States"--was the same one repeated for six years by Rubin, a period during which the Dow rose a mountainous 7,000 points. In contrast, the as yet brief Summers era has seen the index drop some 900 points. But Summers says his focus is on "the fundamentals," such as creating a budget surplus, which he argues is best for both...