Word: economists
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...stirring back to life. The U.S. finally returned to growth in the third quarter, with its strongest showing in two years, India posted inspiring 7.9% growth and the results out of tiny Taiwan, one of the economies slammed the hardest by the global recession, were so impressive one economist beamed that the island "got its groove on." Stock markets, aside from a downward blip here and there, have generally been buoyant. During this season of Thanksgiving and holiday cheer, there seems to be good reason to give thanks and be cheerful...
...have this cycle we've developed-work intensively, buy more, repeat," says Carolyn Danckaert, New American Dream's director of home and communities programs. "At a certain point, the accumulation of stuff starts to drive your life." As Juliet Schor, an economist at Boston College who helps run the group, points out in her book The Overworked American, when workers became more productive over the second half of the 20th century, we as a society chose to take the benefit as more stuff. We could have also decided to, say, work a little less...
...Bonifaz, an economist at Peru's University of the Pacific, calculates in a new book that the road will generate close to $2 billion for local communities in the coming two decades. The government forecasts that the highway could add a full percentage point to GDP. Brazil will be the big beneficiary at the start, sending minerals, meat and soybeans through Peru for export to China, instead of using the Panama Canal. But local authorities expect the Peruvian entreprenerus to slowly catch up with exports headed across the Atlantic...
Still, President Franklin Roosevelt - who rode into office on a platform of deficit reduction - initially hedged his bets, taking stabs at public-works projects and farm subsidies while also rolling out balanced-budget initiatives. When a British economist visited the White House in 1934 saying deficit spending was the best engine to boost consumer demand and create jobs, Roosevelt balked. (Two years later, the economist - John Maynard Keynes - published that advice in his seminal work, The General Theory of Employment, Interest and Money, which revolutionized economic thought by debunking the widely held belief that the market naturally tends toward full...
...have reserved for visiting heads of state have been retained since the 19th century, and the first dinner hosted by Michelle and Barack Obama is a highly anticipated event: some 400 guests are expected to attend. So who's getting all this attention? A beturbaned 77-year-old former economist, who in May was sworn in for his second term as leader of the world's second most populous country and its largest democracy. Singh's visit comes on the heels of Obama's first visit to Asia - a trip that did not include a stop in India. The leaders...