Word: panglossians
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...still behaving like a puppy!" Lawrence Lindsey, a resident scholar at the American Enterprise Institute and former member of the Federal Reserve Board, remarked that though economics is supposed to be "the dismal science," he and his colleagues on TIME's board were sounding full of "Panglossian optimism." No, the economists did not contend that this is the best of all possible worlds. But like Voltaire's Dr. Pangloss, they did insist that developments that at first glance might seem bad are actually good. Specifically, the slowdown in growth from manic annual rates of 6% for the most recent...
...consensus view of the board was that "soft" meant a growth rate of 3% to 3.5% over the next year or so. That, says Blinder, might cause unemployment "to creep up ever so slightly." But it would be another Panglossian development; it would reassure the Fed, says Blinder, that the economy had slowed enough to keep inflation in check with no need for additional interest-rate hikes...
...first glance that might seem--well, Panglossian. But whatever the actual numbers, board members agreed that the economy's potential for sustained rapid growth with only mild inflation is "a whole lot higher than we thought seven years ago, five years ago," in the words of Robert Reischauer, president of the Urban Institute and a former director of the Congressional Budget Office...
...arises from overseas, that in itself testifies to the economy's internal strength. Those foreign centimillionaires appear to have more potential to disrupt the economy than any foreseeable bungling by whoever wins the White House--and as the presidential race heats up, that may be another comforting, almost Panglossian, thought...
...poor Microsoft, getting pushed around by that big ol' bully, the American government. I appreciated the "everybody-loves-an-underdog" sentiment of senior David M. Weld's "Booing Bill Gates" commentary (Nov. 18), but he is sadly misled in his Panglossian views on Microsoft's "evil empire...