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2008-06-25 18:02:20

By Ben Cohen, Star Tribune, Minneapolis Jun. 25--Leonid Hurwicz, who shared the Nobel Prize in economics last year for developing a theory that helps explain how buyers and sellers can maximize their gains, died Tuesday night in Minneapolis. The Minneapolis resident was 90 and had been on dialysis for two years. He was hospitalized a week ago. Hurwicz was given his prize in Minneapolis last December because he couldn't make the trip to Stockholm. He was the oldest person ever to win a...

2006-12-17 09:00:13

By Brinkman, Richard L; Brinkman, June E The purpose of this paper is two-fold: one is to demonstrate that the concept and theory of cultural lag is in the tradition of Veblenian economics; and secondly, that while cultural lag theory delineates and explains problems, it does not necessarily provide for a means of resolution. For example, historically the theory of cultural lag has served as a basis for problem identification and dissent. Veblenian economics, however, can also serve to go...

2006-06-08 19:42:34

By Jason Szep BOSTON (Reuters) - The most controversial leader in Harvard's history bowed out on Thursday in a final commencement that drew cheers and shouts of support from the students who backed him during a faculty rebellion. Former U.S. Treasury Secretary Lawrence Summers, while not directly addressing the controversy surrounding his February 21 resignation, acknowledged his disagreements with Harvard professors and said he had learned much about himself and leadership. "I...

2006-05-22 11:25:00

By Tom Ashby ABUJA -- Irish rock star Bono met British finance minister Gordon Brown at a run-down Nigerian primary school on Monday, as Africa moved to hold the rich world to account over promises to fund a "Marshall Plan" for the continent. Some ceilings at Ido Sarki School, on the outskirts of the Nigerian capital, had collapsed and about 150 children crowded onto benches in one classroom, illustrating the scale of the task required for the poorest continent to deliver basic education to...

2006-04-30 01:15:11

WASHINGTON (Reuters) - John Kenneth Galbraith, an influential liberal economist and author of "The Affluent Society," has died at age 97, The New York Times reported on Sunday. The Canadian-born Galbraith, a professor at Harvard University, died on Saturday at a hospital in Cambridge, Massachusetts, the paper said. Galbraith's most famous work, 1958's "The Affluent Society," became a bestseller. In the book, he argued that the United States had become rich in consumer goods but poor...

2006-04-18 10:05:00

By David Bailey DETROIT -- U.S. automakers and auto parts suppliers face a string of issues created by the changed competitive landscape, Chicago Federal Reserve President Michael Moskow said on Tuesday. "The challenges in the auto sector are profound and fundamental, affecting the viability of the manufacturers and parts suppliers as well as the hundreds of thousands of workers employed in the industry," Moskow said in remarks prepared for a Chicago Fed conference on the auto supplier...

2006-02-19 12:00:53

BOSTON (Reuters) - Harvard University's governing board is considering whether to intervene before the Ivy League school's president faces an unprecedented second vote of no confidence over his leadership, three newspapers reported this weekend. Members of the powerful Harvard Corporation have spoken with faculty and university officials about Harvard President Lawrence Summers' management style and are mulling whether to ask him to resign before the vote, The New York Times, The Wall...

2006-01-12 18:05:00

By Kevin Plumberg NEW YORK -- Game theory, a science of solving conflicts based on individuals choosing the best outcome for themselves, may offer everyone from the hard-bitten day trader to a corporate chief executive a framework for making tough decisions. Robert Aumann, co-winner of the 2005 Nobel prize in economics for his work in game theory, said the concept has practical applications for everything from auctions of oil leases to resolving geopolitical conflicts. Aumann's own work on...

2005-11-16 12:40:34

By Jason Szep BOSTON (Reuters) - A group of leading Harvard University professors have launched an angry protest over a report that the school's controversial president, Lawrence Summers, had told faculty members he was dissatisfied with an important dean and had considered firing him. "This kind of backbiting is more than unprofessional," said a statement signed by 17 professors including seven department heads sent to Harvard Corp. on Tuesday. The statement threatens to reignite...

2005-10-10 13:38:40

By Patrick Lannin STOCKHOLM (Reuters) - An American and an Israeli won the 2005 Nobel prize for economics on Monday for their work on "game theory," which can help explain and resolve trade and business conflicts, and even play a role in avoiding war. The Royal Swedish Academy of Sciences gave the 10 million crown prize to Thomas Schelling and Robert Aumann for work that has found uses in "security and disarmament policies, price formation on markets, as well as economic and...


Word of the Day
monteith
  • A large punch-bowl of the eighteenth century, usually of silver and with a movable rim, and decorated with flutings and a scalloped edge. It was also used for cooling and carrying wine-glasses.
  • A kind of cotton handkerchief having white spots on a colored ground, the spots being produced by a chemical which discharges the color.
This word is possibly named after Monteith (Monteigh), 'an eccentric 17th-century Scotsman who wore a cloak scalloped at the hem.'
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