Word: economists
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...genius of our numbering system is that we can signify massive quantities in short spaces. One billion takes no longer to write than one million does, points out Andrew Dilnot, an economist at Oxford University and author of The Numbers Game...
...cuts have the advantage, though, that they can be put in place quickly. There's also the more ideological, if still possibly valid, argument that they don't encourage the growth of bureaucracy. And recent empirical research - some of it by Christina Romer, the University of California, Berkeley, economist who will be chairwoman of Obama's Council of Economic Advisers - indicates that tax cuts have been quite effective as stimulus in the past. All of which helps explain why 40% of the Obama stimulus consists of tax reductions...
...right mix? Who knows? But if it's any solace, the intellectual godfather of all economic-stimulus plans, economist John Maynard Keynes, didn't think the specific content mattered all that much. It would be better to do something "sensible" with the money, he wrote in the 1930s. But the economy would still be helped if government simply chose to "fill old bottles with banknotes, bury them at suitable depths in disused coal mines, which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire...
...well as to policymakers angling to prop up prices. At TIME's request, Moody's Economy.com ran numbers on price-rent ratios for a few dozen markets. "It's one way of estimating how out of kilter house prices are," says Andres Carbacho-Burgos, an economist at the analytics firm...
...foreign earnings, 85% of which come from its shipments of 3.8 million barrels of oil a day. Last summer the country was garnering about $300 million a month from oil and natural gas. This month it's likely to make just $100 million, according to Saeed Leylaz, an economist in Tehran who edits the business newspaper Sarmayeh...