Word: stiglitz
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...Bilmes argues in her new book “The Three Trillion Dollar War,” with economist and Nobel laureate Joseph E. Stiglitz, this price tag does not take into account the long-term and macroeconomic costs of the war. Her estimate includes decades of future veterans’ compensation payouts; oil price hikes as a result of supply disruption; and the loss not only to families but to the economy when productive Americans are injured or die young...
...Linda J. Bilmes ’80, a former assistant secretary of commerce, teaches public finance at the Harvard Kennedy School of Government. She is coauthor (with Nobel laureate Joseph Stiglitz) of “The Three Trillion Dollar War: The True Cost of the Iraq Conflict...
...estimates show the cost of the war may reach $12 billion a month this year. Economists Joseph Stiglitz and Linda Blimes estimate that U.S. spending in Iraq could get to $2.7 trillion overall--or more--by 2017. Here are some of the reasons...
...take the 5 percentage points out this year, it will be the mother of all U.S. recessions," Roach says. But putting the adjustment off indefinitely isn't a great idea either. "It's just pushing the fundamental problem down the road," says Columbia University economist and Nobel laureate Joseph Stiglitz. "The problem with the U.S. is excessive consumption...
...consumer binge has been fueled not by rising incomes but by rising debt, especially mortgage debt. "People can't spend 200% of their income on mortgages," says Stiglitz. The only way for this to continue was for house prices to keep rising. Then, shock of shocks, they stopped going up, and mortgages started going bad by the millions...