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Economists in sentence

2720 examples of Economists in a sentence

Economists and technocrats on the left bear a large part of the blame.
Indeed, the economists Ronald McKinnon and Kenichi Ohno have singled out US pressure for yen appreciation as a key source of the Japanese economy’s long-term deflation and stagnation – the so-called “lost decade” of economic malaise that is now well into its second.
Why Did Economists Not Foresee the Crisis?
CHICAGO – At the height of the financial crisis, the Queen of England asked my friends at the London School of Economics a simple question, but one for which there is no easy answer: Why did academic economists fail to foresee the crisis?
One is that economists lacked models that could account for the behavior that led to the crisis.
Another is that economists were blinkered by an ideology according to which a free and unfettered market could do no wrong.
Finally, an answer that is gaining ground is that the system bribed economists to stay silent.
Economists even analyzed the political economy of regulation and deregulation, so we could have understood why some US politicians pushed the private sector into financing affordable housing, while others deregulated private finance.
Critics argue that the fundamentals were deteriorating in plain sight, and that the market (and economists) ignored it.
There were many more economists who believed that house prices, though high, were unlikely to fall across the board.
Of course, these expectations could have been distorted by ideology – it is hard to get into the past minds of economists.
As a group, neither behavioral economists, who think that market efficiency is a joke, nor progressive economists, who distrust free markets, predicted the crisis.
Some academic economists consult for banks or rating agencies, give speeches to investor conferences, serve as expert witnesses, and carry out sponsored research.
One remedy would be to ban all interaction between economists and the corporate world.
But if economists were confined to the ivory tower, we might be unbiased, but we would also be ignorant of practicalities – and thus even less capable of predicting problems.
One way to restore trust may be disclosure – for economists to declare a monetary interest in a particular analysis and, more generally, to explain who pays us.
Most economists have very little interaction with the corporate world, and these “unbiased” economists were no better at forecasting the crisis.
Like medicine, economics has become highly compartmentalized – macroeconomists typically do not pay attention to what financial economists or real-estate economists study, and vice versa.
Because the profession rewards only careful, well-supported, but necessarily narrow analysis, few economists try to span sub-fields.
The main advantage that academic economists have over professional forecasters may be their greater awareness of established relationships between factors.
And it may well be that academic economists have little to say about short-term economic movements, so that forecasting, with all its errors, is best left to professional forecasters.
The danger is that disengagement from short-term developments leads academic economists to ignore medium-term trends that they can address.
But some economists doubt that these events tell the whole story.
Finally, there is the argument that Chinese FDI fails to transfer technologies and skills to local businesses – what economists refer to as “positive spillovers.”
To understand why, we can appeal to game theory, which provides economists and others a powerful framework with which to explain the dynamics of both simple and complex interactions.
The debate about the contribution of religious values is parallel to the debate over the relationship of freedom to economic development – a central issue in the work of the Nobel laureate economists Friedrich Hayek and Amartya Sen. It is clearly tempting for critics of authoritarian regimes to argue that freedom is good because it promotes economic growth.
A choir of prominent American economists, including Paul Krugman, Kenneth Rogoff, and Nouriel Roubini, claimed that Latvia, Estonia, and Lithuania must also devalue.
But, while the OMT program’s positive impact on financial markets is proof of its success, it has come under fierce attack by the German public, political parties, and economists.
So we worked to encourage a variety of economists, including Stiglitz, to offer larger estimates of what was appropriate, as reflected in the briefing memo I prepared for Obama.
(Some might cynically say that keeping MBAs and economists out of real businesses is a blessing, but I doubt that that is really true.)
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