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Obama’s Nobel-winning Fed pick withdraws, slams partisan politics

WASHINGTON/NEW YORK (Reuters) – Nobel Prize winner Peter Diamond said on Sunday he planned to withdraw as a nominee for Federal Reserve governor, after his nomination was repeatedly opposed by Republicans. “It is time for me to withdraw, as I plan to inform the White House,” Diamond, an economics professor…

China could overtake US economy by 2030: World Bank

HONG KONG (AFP) – China could overtake the United States as the world’s largest economy if it maintains annual growth of eight percent over the next 20 years, the World Bank’s chief economist said Wednesday. China, which last year overtook Japan as the number-two economy, has already set a growth…

Climate change cost much larger than expected, prize-winning economist says

MADRID – British economist Nicholas Stern said the price of fighting climate change is now higher than he estimated in a 2006 study that earned him a 400,000-euro (530,000) Spanish award on Friday. Stern won the BBVA Foundation award for measuring the economic cost of climate change, notably in his…

Departing White House economist: More spending, less taxes to fix economy

Romer: New spending can be paid for with cuts in the future Departing White House economist Christina Romer says the government has the tools for bringing down unemployment, but policymakers need to find the will and wisdom to use them. Romer called on officials Wednesday to move forward on policies…

Liberal economists say Democrats also eyeing cuts to Social Security

Prominent progressive economists are warning liberals and senior citizens not to take Social Security for granted simply because Republicans are out of power, arguing that structural incentives are propelling Democratic leaders to support scaling back the cherished program. “Social Security faced its greatest danger when Bill Clinton was in the…

Round Peg, Square Hole

America’s Worst Economist is back on the beat, coming to my home state to tell us what the real problem is with the economy. If the American economy is to recover, taxes at all levels must be lowered, economist Arthur Laffer told a Toledo audience yesterday. Mr. Laffer, best known…

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