Should PhDs In Economics Lead The Federal Reserve?


Written by Steven Hansen

Recently Dallas Fed President Robert Kaplan said that any Federal Reserve Chair must be an:

... expert person that can analyze the economy and have views on monetary policy that are respected .... The reason that's so critical is the second part of the job -- which is they've got to be able to mobilize a consensus, forge a consensus among presidents and governors ...

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What We Read Today 21 July 2017

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


Every day most of this column ("What We Read Today") is available only to GEI members.

To become a GEI Member simply subscribe to our FREE daily newsletter.

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 more features, analysis, studies, and news published in the last week

Documentary Of The Week: Chaos Theory

Written by John Lounsbury

Econintersect: Chaos is order out of disorder, and order out of non-linearity. When there is agreement within a system, the more complex a system, the better a bottom up/emergent organizational structure handles the diversity. Chaos theory has determined that knowing everything about the state of a complex system at any moment does not allow accurate prediction of the future of that system. The same is true on many relatively simple systems. This excellent video explains just how chaos rules our world.


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Infographic Of The Day: How To Use Data As A Small Business

There are 2.5 quintillion bytes of data generated each day. Even small businesses can benefit from gathering data about their clients and customers. They can use it to improve their services and products, create something that the market truly wants, expand their reach, boost their revenue, etc.

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Video of the Day:

The One World Observatory has officially opened. Cool tech attractions include elevators that boast a virtual time-lapse of the New York City skyline and interactive tools that help visitors explore and learn about the city. Anthony Mason gets a behind-the-scenes look at the experience. The views are incredible and the technology that went into building the Observatory is impressive.

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Current Weather Outlook

Written by

NOAA keeps predicting a Monsoonal burst or surge (increase in Monsoonal moisture entering CONUS) depending on your choice of term. But the local forecasters keep on seeing reasons why it will not fully develop. This tension is again being played out this week. It is not clear how it will play out. More below in this week's full report. We also discuss the implications of burst or no burst. A "Break" in the action of the Monsoon is not anticipated.

 more investing, markets, precious metals & forex Weekly Wrap-Up 21 July 2017

 more opinion

How Risky Are You? Why Insurance Works Better With Less Discrimination

from The Conversation

-- this post authored by Guy Thomas, University of Kent

Discrimination is a great taboo of our times, and yet one huge industry gets away with it every day. The insurance sector looks at us as risk with legs. It puts us into groups, and if we are in a group deemed riskier, we have to pay more. It's even written into law. Anti-discrimination legislation usually includes exemptions for insurance pricing.

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 USA economy at a glance (boxed items are updates in last 7 days)

14 July 2017: ECRI's WLI Growth Index Rate Marginally Ticks Up

ECRI's WLI Growth Index which forecasts economic growth six months forward remains in positive territory for over one year - after spending the previous 35 consecutive weeks in negative territory. This is compared to RecessionAlerts similar weekly leading index. Also ECRI released their coincident and lagging indices..

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