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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: economics

economics stories: 58 news summaries

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opinion

Keynes Not a Dirty Word Anymore

Ideas of slandered economist could save the world

Nov 8, 08 7:58 PM CST
(Newser) - In his time, John Maynard Keynes was revered as a genius for his belief that humans shouldn’t “think of themselves as victims of impersonal economic laws,” writes Nick Fraser of the Independent. Later, conservatives mocked him and tarnished his name, attaching the word “Keynesian” to “... More »

MORE ABOUT:
economics • England • John Maynard Keynes

ANALYSIS

The Economic 
Crisis Taints Us 
All: Galbraith 

Economist calls the meltdown a 'blot' on
the profession

Nov 2, 08 3:19 PM CST
(Newser) - The economic bust has taken a hammer to the profession of economics, Reagan's monetary policy, and the careers of President Bush, Alan Greenspan, and Henry Paulson, James Galbraith tells the New York Times. In an interview with Deborah Solomon, the economist chides his colleagues for failing to call the meltdown,... More »

MORE ABOUT:
Dick Cheney • economics • Henry Paulson • Alan Greenspan • Ronald Reagan • economist • regulation • George W. Bush • James K Galbraith

Crisis-Stricken Germans
Turn to Marx

As the economy founders, sales of
Das Kapital soar

Oct 15, 08 1:56 PM CDT
(Newser) - The financial crisis has made interventionists out of the most laissez-faire politicians, but in Germany the affection for state control seems to have attained new heights. The Guardian reports that sales of the works of Karl Marx have skyrocketed, with purchases of Das Kapital reportedly up 300%. As Europe's largest... More »

MORE ABOUT:
Germany • economics • Marxism • philosophy • Karl Marx

 NYT's 
 Krugman 
 Wins Nobel 
 Economic Prize 

Globalization expert blames Bush for current crisis

Oct 13, 08 7:26 AM CDT
(Newser) - Paul Krugman was awarded the Nobel Prize for Economics this morning, Reuters reports, in recognition for his work on globalization and free trade. Krugman, a New York Times columnist, Princeton professor, and staunch Bush critic, has long been a favorite for the award, but says it came as a... More »

MORE ABOUT:
New York Times • economics • Nobel Prize • Nobel Prize in Economics • Paul Krugman • Princeton

Euros Eat Their Words as Own Bailouts Loom

A week after ripping US for crisis, dismissing need for own plan, Brown et al. retool

Sep 30, 08 2:38 PM CDT
(Newser) - European leaders are eating their words a week after criticizing the US for allowing its banks to run dry and engineering a system-wide bailout for financial firms, Bloomberg reports. Governments across Europe, including Germany, the UK, Belgium and France bailed out banks across the continent and pledged support for others... More »

MORE ABOUT:
Angela Merkel • Germany • Nicolas Sarkozy • France • economics • Gordon Brown • Britain • bailout • banks

ANALYSIS

 Downturns Spark 'Witch 
 Hunts' Against Elderly 

People lash out during tough times, researchers explain

Sep 20, 08 8:07 PM CDT
(Newser) - "Witch-hunting” is a hot term these days as angry Wall Street investors pine for revenge—but in some countries they take it literally, Tim Harford writes in Slate. In Tanzania, Bolivia, and India, elderly women are often targeted as witches when resources are scarce. Tanzanian women are killed by... More »

MORE ABOUT:
economics • Tanzania • poverty • witchcraft • witches

 'Obamanomics':
 A Tough Sell
 in America? 

Obama's economics lean left and right, until he talks taxes

Aug 24, 08 7:55 PM CDT
(Newser) - Barack Obama will face a crippled economy if he wins in November, but what fiscal policies will he put to use? “My core economic theory is pragmatism,” says Obama, a liberal who picked up free market notions when teaching at the University of Chicago. His policies on health... More »

MORE ABOUT:
Barack Obama • economics • US economy • fiscal conservatives

Greenspan: Housing Will Hit Bottom in 2009

Skilled immigrants would help end
slump, he says

Aug 14, 08 11:19 AM CDT
(Newser) - Alan Greenspan said housing prices could continue to edge lower through 2009, but should “stabilize or touch bottom” in the first six months of the year, reports the Wall Street Journal. And, the former Fed chief says, while a government bailout of Freddie Mac and Fannie May was the... More »

MORE ABOUT:
Bush administration • Federal Reserve • economics • Alan Greenspan • capitalism • Freddie Mac • Fannie Mae • credit crisis • housing crisis • subprime crisis • bank regulation • financial crisis

OPINION

Greenspan to Government: Hands Off

Market capitalism can ride out the crisis, writes former Fed boss

Aug 5, 08 1:15 PM CDT
(Newser) - The credit crisis is far from over, and more banks and financial institutions might require government bailouts along the way, Alan Greenspan acknowledges. The crunch will relax only when home prices, "the ultimate collateral support for much of the financial world’s mortgage-backed securities," begin to stabilize, the... More »

MORE ABOUT:
Federal Reserve • economics • Alan Greenspan • capitalism • credit crisis • regulation • mortgage backed securities • bank regulation • financial crisis

 Economist
 Rates Art
 by Numbers

Professor studies textbook reproductions to determine greatness

Aug 4, 08 8:52 AM CDT
(Newser) - Most art historians would agree that Pablo Picasso's Demoiselles d'Avignon is a great painting. But one economist says it's the best work of art of the 20th century, and he can prove it. The New York Times reports on the work of David Galenson, who analyzed the frequency of reproductions... More »

MORE ABOUT:
art • economics • critic • Pablo Picasso • quantitative analysis

OPINION

Global Econ Puzzle Awaits New President

Kick-starting economy means looking abroad, write Goldman chiefs

Jun 27, 08 10:42 AM CDT
(Newser) - Whether it's John McCain or Barack Obama, the next president will confront a global economic landscape unlike anything his predecessor confronted, write Robert Hormats and Jim O'Neill. In an op-ed for the Financial Times, the two Goldman Sachs executives explain that the new president's greatest challenge will be the rise... More »

MORE ABOUT:
globalization • Goldman Sachs • economics • United States • developing countries • Election 2008 • BRICs

 Most Lucrative College Majors 

Computer engineering tops list for grads seeking quick cash

Jun 21, 08 4:07 PM CDT
(Newser) - College students looking for fast cash after graduation should study computer engineering, Forbes reports. Here are the most lucrative college majors, with salaries for beginners and veterans alike:
  • Computer engineering ($60,500-$104,000)
  • Economics ($48,000-$96,200)
  • Electrical engineering ($59,900-$96,100)
  • Computer science ($54,200-$94,000)
  • Mechanical
... More »

MORE ABOUT:
economics • finance • college • psychology • engineering • mathematics • college graduates

It's Official:
Bikinis Make
Men Stupid

Scientists say
sex drive trumps
common sense

Jun 20, 08 12:26 PM CDT
(Newser) - Men make dumb decisions when ogling bikini-clad beauties—conventional wisdom, sure, but now there's some science behind it. Belgian researchers found that men bombarded with sexy images have a definite drop-off in cognitive skills when compared with those who gaze at landscapes, reports MSNBC. The experiment supports earlier findings that... More »

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science • economics • cognitive science • sexual behavior • male brain • bikini

OPINION

 How Government 
 Can Buy You Happiness 

Economists need to start thinking about quality of life

Jun 19, 08 3:30 PM CDT
(Newser) - While the jury's still out on whether money can buy happiness, a higher gross domestic product certainly doesn't. In rich countries, well-being really does depend on non-material things like family stability, a friendly community, and job security—and economists should start incorporating quality-of-life issues into policy, John Cassidy writes in... More »

MORE ABOUT:
economic growth • economics • poverty • GDP • happiness

Labor Blasts Obama's Top Economist

Unions worry that candidate is tilting toward Wall Street

Jun 12, 08 7:37 AM CDT
(Newser) - After locking up the Democratic nomination, Barack Obama moved quickly to bring Clinton supporters into his general election tent, including Robert Rubin, President Clinton's treasury secretary. Jason Furman, an economist closely associated with Rubin, was hired as economic policy director, and that's provoked the ire of labor unions, who see... More »

MORE ABOUT:
Barack Obama • economics • labor • economist • AFL CIO • labor unions • Robert Rubin • Jason Furman • John Sweeney

Phone Data Used to Map Human Activity

Study, outside US,
finds ingrained habits, raises privacy issues

Jun 4, 08 3:41 PM CDT
(Newser) - Researchers using mobile-phone data to study patterns of human movement find that we're quite creatures of habit, the BBC reports. The 100,000 randomly selected subjects—outside the US, where such tracking would be illegal, the AP notes—remained mostly in the same small area, traveling less than 6½ miles... More »

MORE ABOUT:
cell phones • economics • research • population • avian flu • human population

 Bankrupt, Linens 'n Things
 Will Fold 120 Stores 

Retailer files for Chapter 11 as consumer spending falls

May 2, 08 5:45 PM CDT
(Newser) - Linens 'n Things filed for bankruptcy protection today, MarketWatch reports, and plans to close 120 stores nationwide as other operations continue. "The significant deterioration in the mortgage, housing and credit markets and the resulting impact on the retail marketplace, particularly the home sector, has overwhelmed the operating and merchandising... More »

MORE ABOUT:
retail • layoffs • bankruptcy • economics • consumer spending • Chapter 11 • Linens 'n Things

 Economists Slam Clinton,
 McCain Gas-Tax Cut 

Oil companies would be winners in plan that fails 'Economics 101'

May 1, 08 1:55 PM CDT
(Newser) - Economists and a leading House Democrat are blasting the gas-tax cut proposed by both John McCain and Hillary Clinton, the Washington Post reports. Economists say most of the savings would flow right to the oil companies' bottom line, rather than into voters’ pockets. That's because the tax vacation would raise... More »

MORE ABOUT:
Barack Obama • Hillary Clinton • John McCain • economics • Steny Hoyer • gas prices • gas tax

OPINION

India, China Growth Breaks Western Mold

Essayist says market reforms are only part
of the big picture

Feb 3, 08 7:33 AM CST
(Newser) - Conventional wisdom chalks up the economic booms in China and India to their moves toward global capitalism in the '90s. It's a comforting thought for the West, writes Pranab Bardhan in the Boston Review, but the truth is far more complex. The astounding growth in both countries started well before... More »

MORE ABOUT:
China • India • democracy • economics • urbanization • authoritarianism • boom economy • inequality • rural poverty

OPINION

Davos Summit: a Moral Sham?

Moguls shed guilt and seek bailout money,
but do pay homage to ideas: Guardian

Jan 25, 08 9:28 PM CST
(Newser) - The Davos summit, an annual retreat “where money comes to find morality and politics comes to meet money,” is the capital of capitalism—yet the world's economic crisis is only spoken of in whispers there, writes Julian Glover in the Guardian. Instead, moguls press the flesh with Middle... More »

MORE ABOUT:
economics • Switzerland • world economy • World Economic Forum • Davos

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