Word: economists
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Dates: during 1990-1999
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Even the respected magazine The Economist noted this shift from universities to think-tanks in its 1993 year-end issue...
...Economist observed this shift on both sides of the Atlantic in the past decade...
...Just as the value of a telephone network increases with each new phone added to the system (because it gives everyone on the network one more person to call), so does the value of a computer system increase with each program that runs on it. This is what Stanford economist Brian Arthur calls the law of increasing returns-a twist on the classic law of diminishing returns...
...threatened to bar any immediate settlement. For a struggling President Clinton, the get-tough sanctions promised to shore up his support in crucial industrial states such as Michigan and Ohio. "No U.S. politician ever lost at the polls by bashing Japan," says trade expert Jagdish Bhagwati, a Columbia University economist. And the political price? "So we lose the Lexus and Infiniti vote," shrugs a senior Administration official. "It's a risk we're prepared to take...
Many Americans would find the good news spreading to their paychecks. Economists say the nation's anemic savings rate of 4%, in contrast to Germany's 12% and Japan's 17%, is a key reason behind the stagnation in many workers' wages since 1973. If the U.S. government stops depleting America's savings pool, it would lower businesses' costs of borrowing and enable them to invest in the new equipment that makes their employees more productive, thus fattening their paychecks. Lower rates would also help companies create jobs by building new factories and opening new shops. Roger Brinner, chief economist...