economics

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2 Americans Win Economics Nobel for Strides in Matching

Winner of African governance prize: No one

(Newser) - Americans Alvin Roth and Peter Shapley have won the Nobel prize for economics on the strength of their work matching players in a wide range of markets, the Wall Street Journal reports. "For example, students have to be matched with schools, and donors of human organs with patients in...

Dear Fellow Economists, Stop Playing Politics
Dear Fellow Economists,
Stop Playing Politics
OPINION
Aug 22, 2012 12:45 PM CDT

Dear Fellow Economists, Stop Playing Politics

Laurence Kotlikoff: Those who take sides demean the profession

(Newser) - Boston University economist Laurence Kotlikoff takes note that 500 of his colleagues have signed a statement supporting Mitt Romney's policies and castigating Barack Obama's. All 500 "owe our profession a sincere apology," he writes at Bloomberg View . But this isn't a partisan rant, it's...

Ryan Zinged on Foreign Policy Inexperience

Ryan defenders say he is same as Obama in 2008

(Newser) - Paul Ryan may be a budget expert and domestic policy wonk, but a huge responsibility of the executive branch is foreign policy, and critics are already landing punches on Ryan's meager resume on international issues, reports Reuters . "I think his (Ryan's) experience as a vice presidential candidate...

Private Sector Is Doing Fine
 Private Sector 
 Is Doing Fine 
OPINION
Jul 9, 2012 1:56 PM CDT

Private Sector Is Doing Fine

It's a good time to be an American corporation, Rex Nutting argues

(Newser) - Believe it or not, some "people" are doing just great in this economy. "Those people are called 'corporations,'" writes Rex Nutting of MarketWatch . It may have been politically disastrous for President Obama to say the private sector was "doing fine" last month, "but...

Krugman vs. Bernanke: Who&#39;s Reckless?
Krugman vs. Bernanke: Who's Reckless? 
Robert Samuelson
May 7, 2012 3:45 PM CDT

Krugman vs. Bernanke: Who's Reckless?

Robert Samuelson outlines the feud between the bearded economists

(Newser) - Call it the "battle of the beards," suggests Robert Samuelson of the Washington Post : Paul Krugman vs. Ben Bernanke. Both are prominent economists, both have facial hair aplenty, and each has called the other "reckless." Krugman has been lambasting the Fed for not doing enough to...

10% of Adults Get Allowances

Including more than a third of Americans between 18 and 24

(Newser) - Around one in 10 American adults are on the dole—they regularly collect money or other financial assistance from their parents or relatives, reveals a poll from the Pew Research Center. The results showed no difference between gender or race, reports the New York Times , but the youngest adults were...

Romney Is a &#39;Closet Keynesian&#39;

 Romney 
 Is a 'Closet 
 Keynesian' 
paul krugman
Feb 24, 2012 12:33 PM CST

Romney Is a 'Closet Keynesian'

Paul Krugman: Mitt's strongest commitment is to 'insincerity'

(Newser) - Mitt Romney pretends to subscribe to the right's economic orthodoxy, but his real beliefs are apparently very different, writes Paul Krugman in the New York Times . He let them slip the other day, saying that "if all you’re thinking about doing is cutting spending, as you cut...

Students Calculate Price of the Death Star

LeHigh University students determine that yes, there is enough iron on Earth

(Newser) - Just how wealthy would the Empire have to be to build a Death Star? Well, wealthy enough to blow somewhere around $852 quadrillion on metal alone, according to a group of economics students at Lehigh University. How did they get that number? Well, the first Death Star has a reported...

Behind Europe's Economic Mess: 'Willful Amnesia'

Austerity measures violate basic economic tenets: Paul Krugman

(Newser) - Europe has been lauded for its commitment to austerity measures as a means of restoring its economies. But a quick look at the state of those economies reaffirms what any economist should already have known, writes Paul Krugman in the New York Times : The effort is backfiring. Krugman explains that...

Candidate Turns 'Home Ec' Into 'Economics' Degree

Missouri contender caught fudging educational background

(Newser) - Tiny note to political candidates: "Economics" and "home economics" aren't quite the same thing. Missouri gubernatorial contender Dave Spence quickly updated his website this week after reporters discovered that his touted "degree in Economics" was actually a Bachelor’s of Science Degree in Home Economics, TPM...

What's Up With Ron Paul's 'Austrian' Ideas?

Republican candidate trumpets strict libertarian philosophy

(Newser) - Just what did Ron Paul mean when he finished third in Iowa and said, "We are all Austrians now"? Republican candidates don't often celebrate European economic policies, but this is different, Matthew Yglesias writes in Slate . Those familiar with the inside baseball of libertarianism know that Paul...

Finally, the Obama We Elected
 Finally, the Obama We Elected 
Robert Reich
Dec 7, 2011 1:50 PM CST

Finally, the Obama We Elected

Last night's speech was incredibly important, Robert Reich writes

(Newser) - The speech President Obama gave last night in Osawatomie, Kansas, was the "most important economic speech of his presidency," writes former labor secretary Robert Reich. "Here, finally, is the Barack Obama many of us thought we had elected in 2008," one who actually fights Big Money...

Want to Earn $400K? Fix the Euro Zone

UK prize will reward best solution

(Newser) - Econ majors, dust off those textbooks. If you can come up with the best way to help the euro zone through its current mess by the end of January, you earn $400,000. That's the reward being offered by British CEO Simon Wolfson as part of the Wolfson Economics...

DC Overtakes Silicon Valley in Household Income

Typical home pulls in about $84,000

(Newser) - Our nation's capital city boasts the highest average income in the country, reports Bloomberg . New census statistics show that a household in the DC metro area typically earns $84,523, compared to the national median of $50,045. The booming salaries are explained by a dense concentration of lobbyists,...

2 Americans Win Nobel Prize in Economics

Thomas Sargent, Christopher Sims studied effects of tax cuts, interest rate hikes

(Newser) - Americans Thomas Sargent and Christopher Sims won the Nobel economics prize today "for their empirical research on cause and effect in the macroeconomy," the Royal Swedish Academy of Sciences announced. The prize committee said the winners have developed methods for answering questions such as how economic growth and...

Ron Paul Is Winning


 Ron Paul 
 Is Winning 
Dana Milbank
Sep 22, 2011 1:48 PM CDT

Ron Paul Is Winning

At least, in the way that matters to him

(Newser) - Ron Paul isn’t going to be the next president, or even the GOP nominee. “And yet, in a sense, Ron Paul is winning the 2012 Republican presidential primary,” writes Dana Milbank in the Washington Post . Because Paul’s real goal is to push his Austrian economic theories...

78% of Congress Didn&#39;t Study Business, Economics
78% of Congress Didn't
Study Business, Economics
SAYS REPORT
Aug 24, 2011 1:52 PM CDT

78% of Congress Didn't Study Business, Economics

Yet they're handling the recession

(Newser) - As Congress debates the weighty economic issues of our times, you can rest easy knowing that almost 80% of them didn’t major in business, economics, accounting, or any related field, according to a new study from the Employment Policies Institute. Just 8.4% of legislators studied economics, with another...

Dear Top 1%: Payback Is a ...
 Dear Top 1%: 
 Payback Is a ... 
OPINION
Apr 6, 2011 1:55 PM CDT

Dear Top 1%: Payback Is a ...

Richies are going to regret shafting everyone else: Stiglitz

(Newser) - Revolution is raging in the Middle East, in societies that all have one thing in common: 1% or less of their population controls the lion’s share of the wealth. “As we gaze out at the popular fervor in the streets, one question to ask ourselves is this: When...

How Economics Can Save Your Sex Life

Lower costs, increase transparency, become a "rabbit"

(Newser) - Forget the usual advice on reawakening your love life: more foreplay, sex journals, role-playing. Instead, try economics. Today’s couples can’t afford “excess time and energy,” write Paula Szuchman and Jenny Anderson in the Daily Beast . Drop the cost, and you’ll increase demand, “as any...

World Turns to Blogger for Euro Advice

Edward Hugh saw the euro's troubles coming

(Newser) - A British man who's made his living as a part-time English teacher in Spain for decades is suddenly the hottest name in economics, because he got it right. Blogger Edward Hugh correctly predicted the current Eurozone crisis, pinpointing the reason as the difference in demographics between Germany and countries like...

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