Friday, October 23, 2020

It's time to unlock the gates of the economics profession | openDemocracy

I personally have connected with many amazing economists, social scientists, and journalists in ways that would not have been otherwise possible. However, the positivity, collegiality, and collaboration quickly evaporate if you dare to criticize the institutional hierarchies of the discipline, in a way that is perhaps also the case with the real network of economists.

Last week, the Sveriges Riksbank Prize for Economics Sciences in the Memory of Alfred Nobel, or the "Nobel prize" in economics, was awarded to Paul Milgrom and Robert Wilson of Stanford University for their contribution to developments in Auction Theory.

Publisher: openDemocracy
Twitter: @openDemocracy
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Free exchange - Can too many brainy people be a dangerous thing?

As far back as ancient Rome and imperial China, Mr Turchin shows, societies have veered from periods of political stability to instability, often at intervals of about 50 years. Consider America. Every pundit knows that Congress has become gridlocked, with Democrats and Republicans unwilling to compromise with each other. Fewer know that it was also highly polarised around 1900, before becoming more co-operative in the mid-20th century.

What causes these lurches from calm to chaos? Mr Turchin views societies as large, complex systems that are subject to certain patterns, if not laws. That is an entirely different approach from much of academic history, with its preference for small-scale, microcosmic studies, argues Niall Ferguson of Stanford University. In a paper published this year Mr Turchin (with Andrey Korotayev of the Higher School of Economics in Russia) examines the prediction of instability he made in 2010.

Publisher: The Economist
Twitter: @TheEconomist
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Physician liability during COVID | Medical Economics

The COVID-19 pandemic has brought a lot of unknowns into the practice of medicine. Doctors are already dealing with diagnosing and treating people affected by the deadly virus while trying to keep themselves and their staffs safe from infection. But with the threat of infection also comes the threat of being sued for not taking the proper precautions against it.

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Medical Economics: Is following CDC guidelines, as far as safety goes, enough to protect the practice from lawsuits?

Publisher: Medical Economics
Twitter: @Medical Economics
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'Selfish and reckless.' More than 700 economists strongly oppose Trump's reelection - CNN
Publisher: CNN
Date: 2020-10-22T11:40:01Z
Author: Matt Egan CNN Business
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Quite a lot has been going on:

Poets&Quants | All Of The M7 Schools Will Boycott This Year's Economist MBA Ranking

The Economist will publish an MBA ranking this year, but it will come out later than usual–and several of the biggest brands in business education won’t be on the list because they opted out of the ranking. Last year, the magazine released its 18th list of the world’s best MBA programs at the end of October. But the pandemic has created data collection delays for The Economist which inevitably led to delays.

.”We will be publishing a full-time MBA ranking this year, it’s just that for deeply obvious reasons things have taken far longer than usual, so publication has been pushed back,” says Nick Parsons of The Economist ‘s WhichMBA? group “There are a few stages of data verification to go through yet, so it’s looking unlikely that we’ll publish this month. Some of the big U.S.

Publisher: Poets&Quants
Date: 2020-10-21T21:55:35 00:00
Twitter: @PoetsAndQuants
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Officials Call for Quick Stimulus Deal to Forestall Lackluster U.S. Economic Recovery - WSJ

Their concern: Even if the current recovery is self-sustaining, a delay could lead to a repeat of the lackluster rebound from the 2008 financial crisis, when a burst of spending was followed by an abrupt reversal.

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Publisher: WSJ
Date: 2020-10-23T11:00:00.000Z
Author: Kate Davidson and Nick Timiraos
Twitter: @WSJ
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The generation game - Wall Street will soon have to take millennial investors seriously | Finance

Young investors have become infamous during the pandemic. As markets have rocketed, budding punters have engaged in a frenzy of day-trading on their phones. Look past the notoriety, though, and a profound shift in the ownership of investment assets looms. Millennials, typically defined as those born between 1981 and 1996, still hold a tiny share of total wealth (see chart).

The young acquire wealth by inheriting or earning it. Already more than a third of America's labour force is millennial and they have been the largest cohort since 2016 (even though some are still in education). Bank of America Merrill Lynch reckons that, worldwide, their earning power will rise by nearly three-quarters in 2015-30 as more start work and others gain seniority.

Publisher: The Economist
Twitter: @TheEconomist
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More than 700 economists including Nobel laureates oppose Trump reelection | TheHill

"In just one term in office, Donald Trump has rendered the United States unrecognizable, and has faced no consequences for doing so," the economists wrote in an open letter, which will be updated until the Election Day.

"For these reasons, we strongly recommend that the electorate do what no one else can: reclaim your democracy by voting to remove Donald Trump from office," the economists wrote.

Prominent economists such as Nobel laureates Paul Milgrom, Oliver Hart and Alvin Roth were among those who signed the letter.

Publisher: TheHill
Date: 2020-10-23T13:03:50-04:00
Author: Kaelan Deese
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