Larry Summers's little prize
Article Abstract:
Larry Summers has been appointed Treasury Secretary, replacing Robert Rubin. Summers has been a Harvard economics professor, and two uncles, Kenneth Arrow and Paul Samuelson, have received Nobel prizes for economics. Summers's personal style differs from that of Rubin, who was charming and a good listener. The Treasury's task is to nudge government into taking appropriate courses of action on issues such as the strength of the US dollar, though it does have a major role in foreign policy, through its influence on the World Bank and International Monetary Fund.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Consistently inconsistent
Article Abstract:
Lack of self-control is evident in much of human behavior, and can create problems in economic theory. Consumers may exhibit self-control at one moment and lose it the next. Some people may be aware that they lack self-control and are less likely to procrastinate, but they may also overindulge more. These ideas are explored by Cornell University's Ted O'Donoghue and California University, Berkeley's Matthew Rabin, and there are implications for economic policy.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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