Labor and Management These stories exhibit economic reasons for interest payments and how investments in facilities and equipment are related to interest rates and expected profits on investment. His articles were published in The Conservative Papers, The Republican Papers, and Fortune magazine, and by several university presses. It covers both fictional and documentary films. Unit 1 She also served as Chair of the District of Columbia Financial Management Assistance Authority and Welfare Assistant Secretary for Planning and Evaluation at the Department of Health, Education, and Welfare. A former chairman of the Trilateral Commission, he serves on many public and private boards, including the Group of Thirty, International House, and the Financial Services Volunteer Corps. These stories show how a well-functioning free market pricing system determines how producers manufacture goods, what they will pay, what goods will be manufactured, and for whom the goods will be produced. from the University of Wisconsin and M.A. Previously, he served as an Assistant Professor for the Air Force Institute of Technology at Wright-Patterson Air Force Base. American labor leader who was President of AFSCME District Council 37 (DC37), the largest municipal union in New York City, from 1965 to 1987. Economist and lawyer, renowned for his work during the Depression and World War II and for his ability to explain complex economic theories in plain language. Secretary of Defense under Presidents Richard Nixon and Gerald Ford, and the first U.S. Secretary of Energy, under President Jimmy Carter. in Public Affairs from Princeton University. Economist known as the leading proponent of 20th-century political liberalism, and a prolific author who produced four dozen books and more than a thousand articles, including the popular trilogy American Capitalism, The Affluent Society, and The New Industrial State. He then became a consultant in the Washington, D.C., area and ran unsuccessfully for the Senate, from Maryland, in 1994. Economics U$A: 21st Century Edition has been reconfigured in keeping with the teaching of modern economic principles, placing microeconomics first, followed by macroeconomics, and ending with two programs on global economics. Economics USA: The Banking System Supplemental Audio Transcript, Unit 21 Economics USA: Federal Deficits Supplemental Audio Transcript, Unit 25 from the London School of Economics, and Ph.D. from the Massachusetts Institute of Technology. One of his earliest assignments was to study how to “deflate” (find the true inflation-adjusted estimates of) the U.S. Economics USA: Monopoly Audio Transcript, Unit 7 Dr. Blinder received his B.A. The Economic Lowdown video series is produced by the Economic Education department of the St. Louis Fed for high school and college students. During the New York City bankruptcy crisis in the mid-1970s, Gotbaum and DC37 agreed to major collective bargaining concessions, which set a pattern that forced other municipal unions to do the same. Chief U.S. from Harvard Law School. Member of President Dwight D. Eisenhower’s Council of Economic Advisers, 1959–1961, and a Governor of the Federal Reserve System, 1974–1986. During World War II, he broadcast the fall of Paris to the Germans, then joined the legendary Edward R. Murrow in London, where he reported on the Battle of Britain throughout the war. Interviews, archival film, and contemporary video capture operations in business, finance, government, and politics. Economist and expert on the works of 20th-century economist Hyman P. Minsky, whose alternative theories for why the U.S. economy has periodic booms and busts have gained 21st-century recognition. President Lyndon B. Johnson elevated him to Under Secretary in 1965, then to U.S. Secretary of Health, Education, and Welfare, in 1968. While at the CEA, he co-wrote a brief that led to the termination of the 1959 steel industry strike held by the United Steelworkers of America. He was the John P. Bascom Professor Emeritus of Economics and Industrial Relations at the University of Wisconsin, where he taught for 24 years. Principal Economist for the U.S. Treasury, 1940–1946, during which time he also served as Assistant Director of the Monetary Research Division and Assistant to the Secretary of the U.S. Treasury Department. Between 1955 and 1963, he taught economics at the University of Virginia and in 1960 published The Political Economy of National Security. Supply He has brokered record-setting contracts since 1982 and many of his clients, including Carlos Beltrán, Matt Holliday, Daisuke Matsuzaka, Magglio Ordóñez, Manny Ramirez, Stephen Strasburg, Mark Teixeira, Jayson Werth, and Barry Zito, are among the highest paid in the game. Economics USA: Economic Efficiency Audio Transcript, Unit 6 Topics include the definition of economics, microeconomics, and macroeconomics as a field and the role of assumptions in economic decisionmaking. Economics USA: The Federal Reserve Video Transcript For 26 years preceding the creation of his company, he was Managing Director for Salomon Brothers, Inc., where he made a name for himself predicting the rise and fall of bond prices. These videos have been created as a companion to assist and complement our Gr 12 Economics 3 in 1 study guide . The Labor Market This is a list of economics films. He is also a Trustee of the Council on Foreign Relations and a member of the Trilateral Commission, the Group of Thirty, the American Academy of Arts and Sciences, and the Council of Academic Advisors of the American Enterprise Institute. Economics USA: Federal Deficits Audio Transcript At the Massachusetts Institute of Technology (MIT), he founded the Digital Computer Laboratory, where he invented the magnetic core random-access memory (RAM) used in digital computers. Jacques Barzun Professor in History and the Social Sciences at Columbia University, specializing in urban, social, and military history. He held many public and private sector posts, including Acting Chief of the National Income Division of the Bureau of Foreign and Domestic Commerce, Assistant Director and Chief Economist of the Office of Business Economics, and Member of the Committee for Economic Development (CED). from Georgetown University and J.D. His expertise includes short-term and long-term economic outlooks, government economic policies, the Federal Reserve, monetary policy, trade, labor, and consumer-market issues. Senator from Tennessee, 1971–1977, Congressman from Tennessee, 1963–1971, and U.S. Trade Representative and Secretary of Labor under Ronald Reagan. His work encompasses banks, insurers, funds management firms, and other financial institutions. 2018, Economics Global trade has long been a hot button political issue, but it's reached a fever pitch in recent times. Economist known as “The Father of Supply-Side Economics” because of his influence in shaping public policy during the 1980s, especially in the realm of tax cuts. from New York University, and M.P.P. Video series for high school and college students covers topics in economics, banking and monetary policy and use clear, simple language and graphic elements to visualize the economic concepts presented. A video instructional series on micro- and macroeconomics for college and high school classrooms and adult learners; 28 half-hour video programs; 28 audio programs; and website. in Public Administration and B.S. In their research they discover how flawed and corrupt the market is. Professor of Economics at Harvard University, President Emeritus of the National Bureau of Economic Research, and President Ronald Reagan’s Chairman of the Council of Economic Advisers. Economics USA: Reducing Poverty Supplemental Audio Transcript, Unit 12 In 1944, he was Chief Technical Advisor and Executive Secretary to the U.S. Delegation to the Bretton Woods Conference. from George Washington Law School. He also taught economics at North Carolina State University and the University of North Carolina. from the Yale Law School. Long before economics became such a highly-valued topic of interest on every local and cable network broadcast—as well as radio, newspaper, magazine, internet, and blog sites—there was Economics U$A, an Annenberg/CPB telecourse, premiering in 1985 over the Public Broadcasting System. Classroom Resources > from U.C.L.A. Mr. Boras received his B.A. U.S. His published works include American Vistas, Cities in American History, and Crabgrass Frontier: The Suburbanization of the United States.Dr. 7. and Ph.D. in Economics from the University of Pennsylvania. When the Observer lost its funding, he worked for Inc. magazine before joining the Washington Post. This video explains what unemployment is, how it is measured, and the different types of unemployment. Dr. Chandler received his B.A. This video explains the concept of equilibrium. Policy Director for the Campaign for America’s Wilderness, and Conservation Director and Associate Executive Director for the Sierra Club for 17 years. from Northwestern Law School. He has many publications and writes a biweekly column for the Mexican daily El Universal. Mr. Forrester received his undergraduate degree from the Engineering College at the University of Nebraska. From 1933 to 1946, he was an attorney for the Agricultural Adjustment Administration, a consultant to the Senate on social, economic, industrial, and financial issues, legislative assistant to Democratic New York Senator Robert F. Wagner, and General Counsel to the U.S. Housing Authority, Federal Public Housing Authority, and National Housing Agency. Mr. Stein’s books include The Triangle Fire (about the fire at the Triangle Shirtwaist Company that took the lives of 146 people) and Out of the Sweatshop, a documentary history of the ILGWU. He has discussed budget policy on the major networks, and he participates in the bipartisan “Fiscal Wake-Up Tour” of town hall meetings that focuses on the crisis in Social Security, Medicare, and Medicaid. Faced with dwindling resources, Congress fiercely debated whether to preserve 100 million acres of Alaskan land as a national park, or open the land for mineral exploration. Browse the latest Economy videos from the Wall Street Journal, MarketWatch, and Barron's. from Columbia University and L.L.B. 16. Economics USA: Federal Deficits Video Transcript from Harvard University and Ph.D. in Economics from the New School for Social Research. In 2006-2007 a group of investors bet against the US mortgage market. from Oberlin College. He was elected as a Democrat to the Eighty-fourth Congress by special election to fill the vacancy caused by the death of his father, Representative John D. Dingell, Sr. Public policy analyst and Senior Fellow Emeritus of the Economic Studies Program at the Brookings Institution since 1977. Congressman from West Virginia, 1933–1947, and U.S. Perfect Competition & Inelastic Demand In July, 1944 world economic leaders met in Bretton Woods, NH for a “new world economic order” and soon the dollar became the new standard. Major economic events, including the 2008 banking crisis and technology’s influence on the economy, connect economic theory to the headlines. See how economic principles affect choices. In 1998, the U.S. government filed a suit against the world’s largest software company, Microsoft, for participating in anti-competitive practices. Chief Economist Director of economic forecasting and Chief Economist of IHS Global Insight, responsible for developing the economic outlook and risk analysis for the United States, Europe, Japan, China, and other emerging markets. Mr. Wallison attended the Capitol Page School and received his B.A. Previously, he was the Assistant Attorney General in charge of the Civil Division for the U.S. Department of Justice, Deputy Attorney General of Indiana, and Counsel to the Indiana Stream Pollution Control Board, where he obtained court orders prohibiting industries and municipalities from polluting of the state’s water supply. He authored 11 books, many of which have been adopted nationwide as texts for the study of economics. Dr. Crandall received his M.S. He contributed articles to Justice, the newspaper of the ILGWU, and became editor in 1952. in Public Policy from the John F. Kennedy School of Government, and J.D. He joined the faculty at the Maxwell School of Citizenship and Public Affairs, becoming Chair of the Department of Economics, 1997–2001. Economist appointed to the Federal Reserve Board by President Richard Nixon in 1973, serving as Secretary to the Board of Governors from 1973 to 1976. from Brandeis University, J.D. Competition with General Motors eventually rendered Ford’s single-option Model-T obsolete. 15. Formerly, he managed a local environmental group in the San Juan Islands of Washington State, worked at The Wilderness Society, and was involved in the enactment of the Eastern Wilderness Areas Act (1975), The Endangered American Wilderness Act (1978), the Frank Church-River of No Return Wilderness (Idaho, 1980), the Alaska National Interest Lands Conservation Act (1980), and the California Desert Protection Act. In 1996, she tied for the number one analyst spot in the Textile and Apparel Industry. online learning resources? Pharmaceutical companies invest millions in bringing new drugs to market. Founder and President of the Information Technology and Innovation Foundation (ITIF), a policy think tank. In 1929 following the stock market bottoming out, Simon Kuznets led an investigative study resulting in the first national data collection of Gross National Product (GNP). Resources and Scarcity Mr. Aslett is a graduate of the London School of Printing. Prior to serving in Congress, he was the Associate Editor of the West Virginia Review at Charleston, West Virginia, and head of the department of public speaking and journalism at Davis and Elkins College. Executive Director of the National Academy for State Health Policy and former Director of the Urban Institute’s “Assessing the New Federalism” project. After the Great Depression President Franklin D. Roosevelt put forth a social security program, using money from employer/employee wages. Dean of the U.S. House of Representatives and currently its longest-serving member, having been a U.S. He is author of the State New Economy Index series and The Past and Future of America’s Economy: Long Waves of Innovation that Power Cycles of Growth. In his 1999 book, When Government Was Good: Memories of a Life in Politics, he argued that a golden age in politics existed from 1948 to 1968, when the nation proved that it could achieve full employment, secure civil rights, and prevent nuclear war. Markets Mr. Spatz received his B.A. Economics USA: Fiscal Policy Supplemental Audio Transcript, Unit 19 Why does Walmart choose low prices over high wages, and how do they get away with it? in Computer Science from Duke University. from Harvard Law School. In 1914, the federal government was sold on the concept of universal telephone service provided by Ma Bell, a monopoly that was ended by the development of a new technology. He has also served as President of the Urban History Association, the Society of American Historians, the Organization of American Historians, and the New York Historical Society. Economic Analyst A recognized authority in the field of economics and Professor of Economics at Harvard, where he held teaching and administrative positions over a span of 22 years. He is the author of The Climate War and Deputy Editor of Bloomberg BusinessWeek. Senator, 1958–1985, where he was Chair of several committees and achieved note for sponsoring an amendment to the Constitution that would grant citizens between 18 and 21 the right to vote. 6. from the City University of New York. Mr. Heller received his B.A. Heavily involved in U.S. industrial mobilization during World War II, he was appointed Chair of the War Production Board’s planning committee in 1942. He also served as Executive Secretary of the National Foreign Investment Commission, Trade and NAFTA Minister at the Mexican Embassy in Washington, D.C., and Country Economist for the Czech and Slovak Republics and Poland. Dr. Friedman received his B.A. She served as president of the Duke Farms Foundation and the Doris Duke Foundation for Islamic Art and became an IBM director in 2004. Economics U$A: 21st Century Edition is a 28-part multimedia distance learning course in micro- and macroeconomics for college and high school classrooms that features many of America’s leading businesspeople, politicians, and economists as they expose the inside story behind these turbulent times. He was author of A History of the Emergency Farm Labor Supply Program, 1943–47. These stories explain what monopolies are, and why government sometimes chooses to intervene. He served in the U.S. Army, 1952–1954, and was employed by the Barnett Bank of Jacksonville, Florida, 1956–1957. and M.A. In the area of domestic finance, he initiated the auctioning of Treasury bonds, an approach that has become customary in the United States and many other countries. After 1933, President Franklin D. Roosevelt sought to improve the conditions of farmers via policies in his New Deal plan. 1970s America saw a new kind of inflation, based on supply and not demand: “stagflation,” caused by Arab oil embargoes and worldwide crop failures. The unemployment rate is one of the most important pieces of economic data that economists study. In preparation for WWII, the Roosevelt administration instituted wage price and price controls to curb inflation and better focus production on war materials. Earlier, he served as a research assistant to United States Circuit Judge Theodore Levin and as Assistant Prosecuting Attorney of Wayne County, Michigan. He teaches at Princeton University as the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs in the Economics Department, and is Vice Chairman of The Observatory Group and Co-Director of Princeton’s Center for Economic Policy Studies. Dr. Ribufo received his B.A. Dr. Laffer received his B.A. The half-hour videos explore the history of economics in the United States from the late 1800s to 2011, featuring distinguished economic thinkers, policy makers, bankers, brokers, and large/small-scale business owners. This set of videos explains how the production possibilities frontier (PPF) illustrates some very important economic concepts. from Wellesley and M.A. In addition to updated video content, Economics U$A: 21st Century Edition includes an interactive website that provides video program extensions, including: an economics historical timeline, a “fix the budget” simulation, multiple choice exercises that draw material from both the text and the video series, biographies of the series experts, audio interviews conducted by journalist Frank Stasio, and transcripts of the video and audio programs. We offer a challenging and stimulating undergraduate experience. from New York University and M.A. He has taught economics at the University of Maryland and at Indiana University. Salant later joined the fiscal policy seminar at Harvard that trained economists in the Keynesian foundation. This video explains the concept of demand. from the University of Maryland and Ph.D. in Economics from the University of Wisconsin. Keep reading to learn how to best utilize these clips in the classroom or click on the button below to browse and search our full catalog of clips. from the University of Toronto and M.A. Prominent attorney involved in many high-profile cases, including United States v. Microsoft, during which Bill Gates said that Boies was “out to destroy Microsoft” but the Washington Monthly called him “a latter-day Clarence Darrow.” He also represented Vice President Al Gore in Bush v. Gore; defended CBS in an action brought by General William Westmoreland; defended Napster when the company was sued for copyright infringement; and is representing filmmaker Michael Moore regarding a Treasury Department investigation into Moore’s trip to Cuba while filming for Sicko. About Youtuber As a Head of Economics at the Boarding School Kent College in beautiful Canterbury, I have the opportunity to fill that void by making Economics tutorial videos suitable for students at AS, A and IB Level. Others insisted that increased trade would create new American jobs and industries. These are all examples of oligopolies and the forces that influence them. This video explains the concept of supply. Mr. Randolph graduated from Salem Academy in 1920 and Salem College in 1922. 1986 Chris Plaque Award for “America’s Embattled Economy”International Film and TV Festival of New York In addition to his Harvard career, he spent fifteen years as an opera singer with the New York Opera, the Metropolitan Opera, the New York Philharmonic, and other companies. Born on a … However, in the first decade of the 21st century, when unemployment skyrocketed and the banking system and major corporations needed a bailout to survive, we questioned whether we could still control the economy. from the University of Oxford. and Ph.D. from the University of Chicago. These stories highlight arguments for and against active government counter-stabilization policy. He was elected President of the UAW Local 227, in 1943. and Ph.D. in Agricultural Economics from the University of California, Berkeley. from Washington and Lee University. Since 1985, he has collaborated with EFC Film and Video as lead journalist on three television series, including the New York Times series Live From the Past; the Annenberg/Learner series Inside the Global Economy; and Economics U$A in the original and revised versions of the series, currently updated as Economics U$A: 21st Century Edition. But in the wake of the 2008 Great Recession and the failure of regulators to act, the Dodd/Frank Wall Street Reform and Consumer Protection Act became law. Economic Schools of Thought: Crash Course Economics #14 Recession, Hyperinflation, and Stagflation: Crash Course Econ #13 The 2008 Financial Crisis: Crash Course Economics #12 Dr. Bernstein received his Ph.B. 28. ‘If the teacher goes too fast, we normally ask each other questions.’, ‘It’s interesting to see how college courses are going to be’ said another student.”, “Economics U$A examines major historic and contemporary events that have shaped 20th century American economics. Economics USA: Fiscal Policy Video Transcript Economist and expert on the world banking system, specializing in foreign debt obligations of Third World countries. A comprehensive video tutorial series covering all the major Year 1/AS Macroeconomics content including useful tips regarding analysis and evaluation Microeconomics - Year 2 A Level and IB A run through some of the most difficult to grasp A2 microeconomics material. He has been a member of Time magazine’s board of economists, Chairman of the Economic Advisory Committee of the American Bankers Association, a member of the Board of Directors of the U.S. Chamber of Commerce, and a founding member of the Shadow Open Market Committee. and Ph.D. in Economics from Northwestern University. Economics USA: Inflation Video Transcript The Banking Act of 1935 and the Fed Accord of 1951 broadened the powers of the Fed, widening the range of options and tools it could use to manage the economy. Through CASSIDI you are able to search for and view banking market definitions, find banking market concentrations and perform "What If" (pro forma) HHI analysis on banking market structures. These stories are all examples of how government attempts to fine-tune tax and spending policies to reduce the severity of business-cycle fluctuations. In 1954 relying on “automatic stabilizers,” President Dwight Eisenhower withheld raising taxes in order to encourage consumer spending. These stories show that deficits can be helpful or harmful, but long-term debt is serious business. from Harvard University and Ph.D. from the Massachusetts Institute of Technology. From the first decade of the 20th century through the early portion of the 21st century, America has been on an economic roller-coaster ride from boom to bust and back again. He wrote three books, including Contemporary Monetary Theory. We survey a long list of economic problems, and identify four basic questions that a course in political In addition, he has taught at the Wharton School of Business and the University of Pennsylvania, and he joined Wharton Econometrics in the mid-1980s. This series: Shows how economic freedom is directly related to … This project provides valuable new teaching tools for faculty in the interdisciplinary field of Philosophy, Politics, and Economics. Dr. Behravesh holds a B.Sc. 13. Partner/Publisher at PrintPOD, Inc., which develops products for worldwide delivery over the Internet and in print. As IHS’s chief economics spokesperson, he is quoted extensively in the media on the outlook for the U.S. and global economies, oil prices, exchange rates, the budget deficit, the trade deficit, globalization, country risk, and emerging markets crises. from Columbia University, and Ph.D. in Banking and Finance from the New York University Graduate School of Business Administration. Senior Fellow at the Brookings Institution and Member of President Barack Obama’s 2010 Federal Debt Commission, known for her expertise on fiscal and monetary policy. American business magnate, inventor, and Co-Founder and Chief Executive Officer of Apple Computer. Author. Years later, his name would be synonymous with the creation of Medicare. Wozniak received the National Medal of Technology in 1985 (along with Steve Jobs), was inducted into the National Inventors Hall of Fame, and in 2001 was awarded the 7th Annual Heinz Award for Technology, the Economy, and Employment. The Economy. Years later, his name would be synonymous with the creation of Medicare. Dr. Thorp received his B.A. Click on the apple Learn how the laws of supply and demand determine the wage and quantity of labor employed in various labor markets. 9. Before these appointments, he was a Professor of Economics at Princeton University. 2. and M.Sci. He worked at the Federal Communications Commission (FCC) at several intervals from 1949 until 1973, serving as General Counsel and then as Assistant to FCC Chairman Dean Burch. Dr. Denison received his B.A. In addition to presentations to Congress and government agencies, she has spoken before the American Bankers Association, the Financial Services Roundtable, the American Bar Association, the Brookings Institution, the American Institute of Certified Public Accountants, the National Association of Manufacturers, and many other groups. How much profit do they get in return? The Bank On movement is designed to improve the financial stability of America’s unbanked and underbanked. 1986 Finalist Award for “America’s Embattled Economy”, National Educational Film and Video Festival In 2002 the Euro became the standard currency for the entire European Union and threatened to compete with the dollar. Later, he taught at the University of Toronto and remained there until he retired. Stabilization Policy Born in 1928, he remembers that his grandfather, father, and brother all worked at Studebaker, and that he worked up through the ranks as a laborer and then salaried personnel, rising to National Sales Manager of the Studebaker Corporation. Before and after government service, he taught at the University of Minnesota where he became Chair of the Department of Economics. Canadian economist credited with writing the first introductory textbook on Keynesian thinking, The Elements of Economics, in 1947. Economics USA: Reducing Poverty Video Transcript She has authored several books, many articles in professional journals, and is active in professional associations in foreign affairs and economics. Fellow at the Brookings Institution, specializing in the regulation of financial institutions and markets. Former CBS journalist David Schoumacher narrates this investigative series — presenting three stories per episode. Following the Arab oil embargoes of 1973, the Nixon administration latched onto the world price of “new” oil, encouraging domestic oil suppliers to drill again. Anyone living on a marginally fixed income endured harsh consequences under inflation, and workers’ strikes only brought costs up more. Similar topics are available in the Economic Lowdown Podcast Series. Details about upcoming shows here, please contact me to bring economics comedy to your school, corporate event, or comedy club! Unemployment In the late 1970s, President Jimmy Carter ordered Professor Alfred Kahn to deregulate the airline industry, which had been a federally protected oligarchy. After the war, he started a consultancy firm called Robert R. Nathan Associates. The nation’s cycles of economic booms and busts were considered intrinsically capitalistic by Joseph Schumpeter who called them “methodic economic growth,” and by Karl Marx who lambasted capitalism as inherently flawed. In response to rising interest rates in the 1970s, the Maryland legislature raised usury ceilings so that more home loans would be available. He chaired the Budget and Taxation Committee for fifteen years, chaired the Fiscal Affairs and Government Operations Committee, and served on many other committees, including: Pensions, Spending and Affordability, Joint Committee on Income Tax Reform, Rules, Legislative Policy, Joint Budget and Audit, Joint Committee on Management of Public Funds, Special Joint Committee on Legislative Data Systems, and Fiscal Affairs and Oversight. Von Neuman Whitman received her B.A. from Williams College and a Ph.D. in Economics from the University of Chicago. Economics USA: Stagflation Video Transcript Economics USA: Perfect Competition/Inelastic Demand Video Transcript Mr. Weil received his B.A. Later, he became Co-Director of UAW Region 1A, Member-at-Large of the international UAW Board of Directors, Director of the UAW’s Chrysler, Skilled Trades and Technical Office and Professional Departments, and Vice-President of the UAW. She has also been a Director at the Council of Foreign Relations, Vice-President and Chief Economist at General Motors Corp., and Group Executive for Public Affairs. Previously, he worked in radio and as a lead anchor at WJLA-TV 7 in Washington, D.C. to get started. from Middlebury College, M.A. A while back, we did a Freakonomics Radio program asking why the NFL hasn't (yet) put advertising on its players' jerseys. Ten Principles of Economics Video Clips. Earlier, he was one of the Congressional Budget Office’s first officials, serving as Deputy Assistant Director in 1975. from Harvard University. Debate over the North American Free Trade Agreement (NAFTA) included accusations that American jobs would suffer and American firms would relocate south of the border. His recollections express the pride in workmanship of “a family working together” and capture the pathos and grief of the company’s workers as Studebaker failed and closed its doors. from Syracuse University. Papadimitriou has been the Executive Vice President and Provost, Jerome Levy Professor of Economics, and President of the Levy Economics Institute at Bard College. He has served as President of the Eastern Economic Association, Vice President of the American Economic Association, and on the boards of the Council on Foreign Relations, the Bretton Woods Committee, and the Bellagio Group. Chairman of the Board of Governors of the Federal Reserve System, since 2006, and Chairman of the Federal Open Market Committee, the System’s principal monetary policy-making body. Presiding during a period of economic turmoil, his Federal Reserve chairmanship has been contentious. from Cornell University and L.L.B. Born on a farm in Rygate, Montana, he became a surveyor for the General Land Office and an accountant for the Corps of Engineers. These stories all deal with differences in income and how public policy and private funding is used to reduce poverty. He has spoken and written extensively on banking, finance, and economic development. He is a member of the American Philosophical Society, a Fellow of the Econometric Society, and a Fellow of the National Association of Business Economics. Winner of the 1976 Nobel Prize in Economics for “his achievements in the field of consumption analysis, monetary history, and theory, and for his demonstration of the complexity of stabilization policy.” From his lifetime base at the University of Chicago, he did trailblazing work on price theory—the theory that explains how prices are determined in individual markets—and “monetarism.” He defied Keynes and most of the academic establishment of the time, resurrecting the quantity theory of money—the idea that the price level depends on the money supply. As an adviser to President Johnson, he convinced the president to adopt a major economic initiative—the “War on Poverty.” But he resigned when Johnson escalated the Vietnam War without raising taxes, thus setting the stage for an inflationary spiral. She received a MacArthur Foundation Fellowship, has taught at Harvard University, George Mason University, and New School University, and has served as President of the American Economic Association. 14. and M.A. He worked extensively for CBS News on television in the years following the war, and he became one of the early critics of Senator Joseph McCarthy’s anti-Communism tactics.