Word: samuelson
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...Pamela Samuelson, a faculty director of the Berkeley Center for Law & Technology who has raised concerns about the deal, called it an "extremely significant case" for the future of digital publishing. "The logic of the agreement, I think, is going to put Google in a very privileged position in the digital book market...
...strands of statistics and pro-market ideology came together in the mid-1960s. It was the great MIT economist Paul Samuelson who made the case mathematically that a rational market would be a random one. But Samuelson didn't share Friedman's political views, and he never claimed that actual markets met this ideal. It was at Chicago that a group of students and young faculty members influenced by Friedman's ideas began to make the case that the U.S. stock market, at least, was what they called "efficient...
...didn't take long for a new generation of scholars, many with roots at Samuelson's MIT, to start pointing out the problems. Samuelson protégé Joseph Stiglitz showed that a perfectly efficient market was impossible, because in such a market, nobody would have any incentive to gather the information needed to make markets efficient. Another Samuelson student, Robert Shiller, documented that stock prices jumped around a lot more than corporate fundamentals did. Samuelson's nephew Lawrence Summers demonstrated that it was impossible (without a thousand years of data) to tell a rationally random market from an irrational...
...specifically to obtain financial information, but it includes an exception for insurance companies investigating fraud to make sure claims are accurate. Private investigators would like a similar exception to help them catch bad actors. "The anti-fraud interests are very strong," said Chris Hoofnagle, senior staff attorney with the Samuelson Law, Technology, and Public Policy Clinic at U.C. Berkeley School of Law. Most Hill staffers believe it's unlikely that the pretexting legislation will pass during the "lame duck" session of Congress, which happens in November when the members return from campaigning. Other issues and distractions will probably grab center...
...coaches alike accredited Harvard’s surprise NCAA bid to its superb record against the nation’s best squads. “The selection committee must have looked at wins against possible tournament teams and highly ranked teams,” co-captain midfielder Jake Samuelson said. “Other teams had good records but didn’t have the wins. It’s more a factor of who you beat than who you lost to.” —MADELEINE I. SHAPIRO