For economists, “widgets” are the example of a hypothetical product you use when you don’t want to get specific.
It’s not a big shock that those who get a PhD tend to have parents who also had a higher level of education.
Everyone loves to dunk on the Federal Reserve (Fed).
“Globotics” is the name that Richard Baldwin gave to the combination of globalization and robotics in service jobs.
The idea of “place-based” economic policies is to focus on those geographic places–sometimes urban areas, sometimes neighborhoods within an urban area–where jobs are especially scarce and incomes especially low.
In the “Acknowledgements” to his 2010 collection of essays called Studies on Science and the Innovation Process, Nathan Rosenberg wrote: “[M]y long-standing conviction [is] that the most powerful contributions to the rise in measured economic productivity in the last half of the twentieth century was the innovation that we call “`the deadline.'”
Every economics major confronts a similar set of required classes: intro micro, intro macro, intermediate micro, intermediate macro, and econometrics.