The Flat Earth Society has all but disappeared, but the efficient-market hypothesis is alive and well. This week, the Nobel Memorial Prize in Economic Sciences was awarded to its most tenacious advocate, Eugene F. Fama of the University of Chicago.
The U.S. public and policy makers would oppose many of the ideas put forward by the presidential deficit-reduction panel, including ending “politically sacrosanct” home mortgage interest deductions, said Gregory Mankiw , a former chief economic adviser to President George W. Bush .
When the members of the class of 2015 arrived at Harvard College this fall, they encountered a novel bit of moral education. Their dorm proctors -- the grad students who live with freshmen to provide guidance and enforce discipline -- invited each student to sign a pledge developed by the Freshman Dean’s Office. It reads, in full:
Dec. 7 (Bloomberg) -- Harvard University's Gregory Mankiw and AQR Capital Management's Cliff Asness talk about tax policy impact on investing. They speak on Bloomberg Television's "Market Makers." (Source: Bloomberg)