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economists
Economists Say Outlook for 2011 Getting Brighter
By not in system - AOL NewsWASHINGTON -- Employers will hire more workers this year, and the economy will grow faster than envisioned three months ago, according to an Associated Press survey that found growing optimism among leading economists. But unemployment will stay chronically high - nearly 9 percent by year's end, the latest quarterly AP Economy Survey shows. A majority of economists say it will be 2016 or later before unemployment drops to a historically normal rate of around 5 percent. Economists have become more confident 19 months after the worst recession since the Great Depression ended. Lower Social ...
Lawrence Summers' Greatest Hits (and Misses)
By David Knowles - AOL News(Sept. 21) -- The White House announced today that its top economic adviser, Lawrence Summers, would resign following the midterm elections. With Summers' departure, Treasury Secretary Tim Geithner will be the last remaining major economic policy figure hired by the president at the start of his term. Both Peter Orszag, the former director of the Office of Management and Budget, and Christina Romer, the former head of the Council of Economic Advisers, resigned earlier this year. President Barack Obama released a statement about the man who served as the director of the National Economic ...
Top Economic Adviser to Leave White House
By not in system - AOL NewsWASHINGTON (Sept. 21) -- The White House says President Barack Obama's top economic adviser plans to leave the administration at the end of the year. The White House said in a statement that Lawrence Summers will leave his post as director of the National Economic Council to return to Harvard University. Summers departure comes amid a sluggish economic recovery that has seen unemployment hover near 10 percent. He would be the third high-level member of the Obama economic team to leave this year, following the resignations of budget director Peter Orszag and Christina Romer, head of the ...
Ben Bernanke: Economic Rock Star of the Year
By Joann M. Weiner - Politics DailyMaking lists is fun. We like to read about the most Googled stories of the week, the most e-mailed topics of the moment, the best songs and greatest films of the century, the richest people in America, and the best-dressed women of the year. How many, however, flock to learn the names of the top Global Thinkers of the Year? Not a whole lot, I suspect. ...
Economists: Not As Smart as You Think (Or Are They?)
By Joann M. Weiner - Politics DailyEconomics appears to have replaced the law as the profession of ridicule. In April, for example, Business Week ran a cover story asking, "What Good Are Economists Anyway?" given that they failed to predict the worst recession since the Great Depression. More recently, Paul Krugman, writing for the New York Times, asks "How Did Economists get it So Wrong?"Krugman's "it" presumably refers to predicting the financial crisis. With his Nobel Prize in economics, Krugman's criticism of his profession is not likely to be ignored, and it shouldn't be. In his lengthy article for the Times, Krugman ...
Economists: McCain Right on 'Fundamentals'
By Mark Impomeni - Politics DailySen. John McCain drew sharp criticism from Sen. Barack Obama yesterday for declaring that the "fundamentals" of the U.S economy are "strong." Obama cited the remark as evidence that McCain does not understand the nature of the economic situation in the country after a weekend that saw another Wall Street investment bank collapse. "How can John McCain fix our economy if he doesn't understand it's broken," Obama said.But many economists agree with McCain that underlying economic conditions are sound, despite the turmoil in the investments sector. David Wyss, chief economist for Standard and ...
Economists on McCain
By Caleb Howe - Politics DailyThe Wall Street Journal's Real Time Economics blog reports today on economists who responded to the question: "Which of the three remaining presidential candidates offers the most responsible fiscal policy proposals in your view?" The question was part of the Journal's latest economic forecasting survey. About half of the survey participants elected not to answer with a candidate preference. Of those who answered, 75% selected John McCain. The depressing reasoning? "His [policies] are the least horrible," according to James F. Smith of Western Carolina University. ...
When Economists Mattered
By David Knowles - Politics DailyThe year was 1992. For whom did the opinions of these elitist, out-of-touch professionals matter? Bill Clinton. ...
Pander-Fest '08: Hillary Vs. OPEC
By David Knowles - Politics DailyFresh off a gas tax holiday idea that over 200 economists (including noted elitist Nobel Prize winners) have panned, Hillary Clinton has followed-up with another startling proposal sure to rouse populist blood pressure but, like the tax holiday, never amount to a hill of beans. As oil prices have reached record levels, Hillary has sensed a campaign opening, so she's sticking with the "Gas" category, but raising the wager somewhat. Now, she's going after the big boys: OPEC, your days are numbered. As Ben Smith reported yesterday, Hillary boldly declared the following:"We're going to go right at ...
Hillary Doesn't Listen to Economists
By David Knowles - Politics DailyFrom Robert Reich, Bill Clinton's former Secretary of Labor:When asked this morning by ABC News' George Stephanopoulos if she could name a single economist who backs her call for a gas tax holiday this summer, HRC said "I'm not going to put my lot in with economists."I know several economists who have been advising Senator Clinton, so I phoned them right after I heard this. I reached two of them. One hadn't heard her remark and said he couldn't believe she'd say it. The other had heard it and shrugged it off as "politics as usual."Er, you can say that again. Discounting expert opinions and ...
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