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Keyword: mankiw

Brevity: Headers | « Text »
  • A Master of Tax Avoidance

    11/27/2012 2:44:39 PM PST · by ExxonPatrolUs · 14 replies
    Greg Mankiw's Blog ^ | November 26, 2012 | Greg Mankiw
    Warren Buffett has an op-ed in today's NY Times on one of his most popular themes: The rich should pay more in taxes.  At first blush, his position seems noble: A rich guy says that people like him should pay more to support the commonwealth.  But on closer examination, one realizes that Mr Buffett never mentions doing anything to eliminate the tax-avoidance strategies that he uses most aggressively.  In particular: 1. His company Berkshire Hathaway never pays a dividend but instead retains all earnings.  So the return on this investment is entirely in the form of capital gains.  By not paying dividends, he saves his investors (including...
  • GREG MANKIW: Warren Buffett Doesn't Tell You About How He's A Master Of Tax Avoidance

    11/26/2012 11:20:51 AM PST · by SeekAndFind · 24 replies
    Business Insider ^ | 11/26/2012 | Joe Weisenthal
    In a NYT Op-Ed today, Warren Buffett argued that the rich should pay a certain minimum tax, and he explained to activist Grover Norquist that it's preposterous to think that businessmen would forgo profitable deals merely because the rate of tax on the profits would go up. But why do people listen to Buffett on taxes? Basically because he's a rich, successful guy (which is why a lot of people are listened to on a lot of subjects). To that end, economist and former Romney advisor Greg Mankiw has a short post talking about Buffett as a master of "tax...
  • The Problem with Deficit Neutrality

    03/12/2010 6:24:55 AM PST · by 1rudeboy · 1 replies · 167+ views
    Greg Mankiw's blog ^ | March 9, 2010 | Greg Mankiw
    Imagine you have a friend who has a budget problem. Every month he spends more than he earns. His credit card bills are piling up. He is clearly on an unsustainable path. Then one day he comes to you with an idea. Friend: I am going to take off a few days from work and fly down to Bermuda for a quick vacation. You: But isn't that expensive? Won't that just add to your growing debts? Friend: Yes, it is expensive. But my plan is deficit-neutral. I have decided to give up that half-caf, extra-shot caramel macchiato I order at...
  • Mankiw's Baseless Arguments (on The Exploding Monetary Base)

    01/04/2010 6:29:22 PM PST · by sickoflibs · 8 replies · 603+ views
    Mises Institute ^ | January 04, 2010 | Robert P. Murphy
    Greg Mankiw's recent blog post carries a rather risky title: "The Monetary Base Is Exploding. So What?" I really am trying to understand the viewpoint of the wide range of economists (including Mankiw, Paul Krugman, Scott Sumner, Mike "Mish" Shedlock, Bryan Caplan, and David R. Henderson) who think the dollar is not going to fall sharply in the foreseeable future. But I've yet to see a convincing explanation as to how Bernanke (or his successor) is going to avoid large price inflation, given the corner the Fed and the feds have painted us into. Mankiw's latest post recapitulates many of...
  • Tax Cuts Might Accomplish What Spending Hasn’t

    12/12/2009 2:08:48 PM PST · by TaxPayer2000 · 26 replies · 1,242+ views ^ | December 12, 2009 | N. GREGORY MANKIW
    ~SNIP~Congress passed a sizable fiscal stimulus. Yet things turned out worse than the White House expected. The unemployment rate is now 10 percent — a full percentage point above what the administration economists said would occur without any stimulus. To be sure, there are some positive signs, like reduced credit spreads, gross domestic product growth and diminishing job losses. But the recovery is not yet as robust as the president and his economic team had originally hoped. So what to do now? The administration seems most intent on staying the course, although in a speech Tuesday, the president showed interest...
  • Supply-Side Ideas, Turned Upside Down (Obamacare raises marginal tax rates for middle class)

    10/31/2009 4:57:11 PM PDT · by reaganaut1 · 22 replies · 1,151+ views
    New York Times ^ | Octgober 31, 2009 | N. Gregory Mankiw
    ... [T]he signature domestic issue in President Obama’s first year in office — health care reform — is shaping up to be the antithesis of President Reagan’s supply-side economics. The starting point for Ronald Reagan was the idea that people respond to incentives. The incentives that he most worried about were those provided by the tax system. According to his budget director, David A. Stockman, Mr. Reagan would regale the staff with stories of how he, as an actor, used to alter his work schedule in response to the tax code. “You could only make four pictures, and then you...
  • George Soros, Enemy of Free Markets

    10/28/2009 9:50:10 AM PDT · by FromLori · 117 replies · 3,118+ views
    Economic Policy Journal ^ | 10/28/09 | Robert Wenzel
    It has always been understood, sometimes whispered, that Geroge Soros, the great beneficiary of markets, hates them. The truth is now out in the open. John Stossel reports, via FT, that Soros will give $50 million to start a new think-tank to counter "the unwavering belief in unchecked free markets, which remains pervasive in universities." Soros says: "The ideologists in the free markets are still in command and I think they'll be very difficult to remove because they have tenure." If anything proves that one has to question Soros' analytical ability, it is this statement. The leading economic textbook in...
  • Does He Lie? No, But Obama Implies, Misdirects, and Misleads.[That's A Lying Method!]

    09/18/2009 4:00:43 PM PDT · by Steelfish · 11 replies · 469+ views
    Does He Lie? No, But Obama Implies, Misdirects, and Misleads. By Charles Krauthammer. You lie? No. Barack Obama doesn’t lie. He’s too subtle for that. He . . . well, you judge. Herewith three examples within a single speech — the now-famous Obama-Wilson “you lie” address to Congress on health care — of Obama’s relationship with truth. (1) “I will not sign (a plan),” he solemnly pledged, “if it adds one dime to the deficit, now or in the future. Period.” Wonderful. The president seems serious, veto-ready, determined to hold the line. Until, notes Harvard economist Greg Mankiw, you get...
  • Manufacturing a Burger

    02/29/2004 8:21:15 AM PST · by cp124 · 18 replies · 2,198+ views
    It's a stretch By MATT WICKENHEISER, Portland Press Herald Writer Two all-beef patties, special sauce, lettuce, cheese, pickles (and) onions on a sesame-seed bun might make an American classic, the Big Mac, but are they steps in a manufacturing process? That's the question raised in the Economic Report of the President, given to Congress recently. In the manufacturing chapter, President George W. Bush's economists suggest that the government's definition of "manufacturing" is vague, which might affect policy-making and even provide factory tax breaks for fast-food businesses. "When a fast-food restaurant sells a hamburger, for example, is it providing a 'service'...
  • What's the point of a public option?

    06/05/2009 8:40:14 AM PDT · by LowCountryJoe · 9 replies · 473+ views
    Greg Mankiw's Blog ^ | Friday, June 5th 2009 | Greg Mankiw
    In the national debate over health insurance reform, a key issue is whether the government should offer a "public plan" to compete with private insurers. For example, in today's NY Times, Paul Krugman writes, What’s still not settled, however, is whether regulation will be supplemented by competition, in the form of a public plan that Americans can buy into as an alternative to private insurance. Now nobody is proposing that Americans be forced to get their insurance from the government. The “public option,” if it materializes, will be just that — an option Americans can choose. And the reason for...
  • Accountability? (Unemployment much higher than Obama economists predicted in January)

    05/18/2009 1:31:21 PM PDT · by reaganaut1 · 5 replies · 396+ views
    Greg Mankiw's Blog ^ | May 17, 2009 | Greg Mankiw
    When the Obama stimulus plan was proposed, the president's economic team put out a report in January 2009 that purported to show what would happen with and without the fiscal stimulus. The chart above is from page four that report, together with the actual results over the past couple months. As you can see, the actual outcome is significantly worse than the projection with the stimulus plan and is, in fact, roughly on track with what was projected without the stimulus. What does this mean? One interpretation is that the fiscal stimulus has failed to achieve what Team Obama thought...
  • Peter Schiff vs. Greg Mankiw (Bush's economic advisor)

    04/21/2009 2:21:27 AM PDT · by 4rcane · 2 replies · 450+ views This illustrates how clueless Bush's economic advisors were and no doubt alot of Republican economic advisors are the same when standing next to a true freemarketer
  • Time For Mankiw To Resign

    04/20/2009 8:52:51 AM PDT · by TigerLikesRooster · 30 replies · 727+ views
    Time For Mankiw To Resign On Saturday I checked my watch to verify the date. A quick check showed it was April 18. Just to be sure I asked my wife Joanne and she assured me it was the 18th. Likewise my computer said it was the 18th. For a brief moment, I thought we had flashed back in time and it was April 1. April Fool's day was the only rational explanation I could come up with for a column in the New York Times by Gregory Mankiw, professor of economics at Harvard.
  • Wanna bet some of that Nobel money? (Greg Mankiw Challenges Paul Krugman to a wager)

    03/05/2009 6:46:47 AM PST · by SeekAndFind · 2 replies · 334+ views
    Greg Mankiw's Blog ^ | March 4,2009 | Greg Mankiw
    Wanna bet some of that Nobel money? Paul Krugman suggests that my skepticism about the administration's growth forecast over the next few years is somehow "evil." Well, Paul, if you are so confident in this forecast, would you like to place a wager on it and take advantage of my wickedness? Team Obama says that real GDP in 2013 will be 15.6 percent above real GDP in 2008. (That number comes from compounding their predicted growth rates for these five years.) So, Paul, are you willing to wager that the economy will meet or exceed this benchmark? I am not...
  • It’s No Time for Protectionism

    02/08/2009 7:36:34 AM PST · by LowCountryJoe · 42 replies · 520+ views
    The New York Times ^ | February 7, 2009 | N. GREGORY MANKIW
    [Snip] Critics of China say it is keeping the yuan undervalued to gain an advantage in the international marketplace. A cheaper yuan makes Chinese goods less expensive in the United States and American goods more expensive in China. As a result, American producers find it harder to compete with Chinese imports in the United States and to sell their own exports in China. There is, however, another side to the story. The loss to American producers comes with a gain to the many millions of American consumers who prefer to pay less for the goods they buy. The situation is...
  • Greg Mankiw: My Preferred Fiscal Stimulus

    02/06/2009 7:34:29 PM PST · by SeekAndFind · 7 replies · 326+ views
    Greg Mankiw's Blog ^ | Feb 6, 2009 | Greg Mankiw
    Regular readers of this blog have a pretty good sense of my policy preferences. But for those occasional readers who might be stopping by, let me reiterate what I would do right now if I were the fiscal king. I would institute an immediate and permanent reduction in the payroll tax, financed by a gradual, permanent, and substantial increase in the gasoline tax. I would make the two tax changes equal in present value, so while the package results in a short-run budget deficit, there is no long-term budget impact. Call it the create-jobs, save-the-environment, reduce-traffic-congestion, budget-neutral tax shift. I...
  • It’s a Time to Listen, and to Obey the Laws of Arithmetic

    11/09/2008 6:23:24 AM PST · by LowCountryJoe · 42 replies · 121+ views
    New York Times ^ | November 8, 2008 | N. Gregory Mankiw
    PAY ATTENTION TO BUDGET CONSTRAINTS The nation faces a long-term imbalance between government spending and tax revenue. The fundamental problem is that the federal government has promised the elderly more benefits than the tax system can support. This fiscal imbalance will become acute as more baby boomers retire and start collecting Social Security and Medicare benefits. Yet during the campaign, Mr. Obama promised to cut taxes for 95 percent of Americans, to vastly expand health insurance coverage and never to cut Social Security benefits or raise the retirement age. The new administration will almost surely have to renege on some...
  • Romney Campaign Recruits Supply-Siders

    06/02/2007 1:02:08 PM PDT · by TexanSniper · 24 replies · 646+ views
    HUMAN EVENTS ^ | 03/19/2007 | Amanda B. Carpenter
    In his campaign to win the Republican nomination for President, expect former Massachusetts Gov. Mitt Romney to have a strong economic plan and to hit rival candidates hard on taxes. Romney has compiled a team of dedicated Reaganite supply-siders -- many of whom also helped engineer President Bush’s tax cuts -- to produce what Romney’s spokesman called a “very idea-based campaign.” The Romney campaign is staffed by a number of experienced policy heavyweights. Leading the economic team are R. Glenn Hubbard, dean of Columbia University Graduate School of Business, and N. Gregory Mankiw, a visiting fellow at the American Enterprise...
  • GDP exceeds Wall Street forecasts

    06/29/2005 6:53:48 AM PDT · by dob · 71 replies · 2,281+ views
    CNN ^ | 29/06/04 | Reuters
    WASHINGTON (Reuters) - Robust home building and stronger exports helped the economy expand at a faster-than-expected 3.8 percent annual rate in the first quarter, the Commerce Department said Wednesday as it revised its growth estimate up for a second straight time. Initially, the department said gross domestic product -- the broadest measure of total economic activity within the nation's borders -- grew at a 3.1 percent rate in the first quarter, but it pushed that number up to 3.5 percent a month ago before finally revising it to match the 3.8 percent rate posted in the closing quarter of 2004....
  • Bush's top economic adviser leaving

    02/16/2005 4:30:13 PM PST · by paudio · 13 replies · 556+ views ^ | February 16, 2005
    President Bush's top economic adviser is leaving his post to return to academia, the White House announced Wednesday. N. Gregory Mankiw, the chairman of the president's Council of Economic Advisers, wrote Bush a letter of resignation dated Feb. 9. "It is time for me to return to my family, my students and my books," the former Harvard University professor wrote in the letter that also praised Bush's economic policies.
  • Economic Data: Growth Without Inflation

    01/14/2005 9:20:03 AM PST · by alessandrofiaschi · 48 replies · 1,093+ views ^ | By Tim Ahmann
    WASHINGTON (Reuters) - U.S. industrial output grew strongly last month while producer prices fell at the sharpest rate in 1-1/2 years amid tumbling energy prices, according to reports suggesting healthy, noninflationary growth. U.S. factories, mines and utilities boosted production by a more-than-expected 0.8 percent in December, leading to a 4.1 percent gain for all of 2004, the best annual showing in four years, a Federal Reserve report showed on Friday. Separately, the Labor Department said producer prices dropped 0.7 percent last month, a sharper-than-expected decline and the biggest since April 2003. Prices were also well contained when excluding volatile food...
  • Mankiw's Magic (White House economist)

    01/10/2005 7:33:28 AM PST · by harpu · 12 replies · 467+ views ^ | 1/9/05 | Larry Ludlow
    Friday’s job report shows that White House economist Greg Mankiw was very nearly right when he projected almost a year ago that jobs could rise by 2.6 million in 2004. Of course, he was widely ridiculed inside Washington after making this statement, and at one point even the White House turned its back on the Harvard professor’s estimate. But the Labor Department’s latest employment release shows the yearly gain for nonfarm payrolls coming in at 2.3 million. That’s close enough for government work. It’s also the best jobs performance in five years. Why so good? The labor market responded powerfully...
  • Bush taps Kellogg Co. CEO Gutierrez to head Commerce - Hassett, AEI, possible replacement of Mankiw

    11/29/2004 9:26:29 PM PST · by alessandrofiaschi · 2 replies · 567+ views ^ | 11/29/2004 | Alessandro Fiaschi
    Bush taps Kellogg Co. CEO Gutierrez to head Commerce Corbett B. Daly WASHINGTON (CBS.MW) -- President Bush announced Monday that Carlos Gutierrez, Kellogg Co.'s chief executive, would replace Don Evans as Commerce Secretary, making the first of what are expected to be many changes in his economic team. "Carlos Gutierrez is one of America's most respected business leaders," Bush said at the official announcement in the Roosevelt Room of the White House. (...) Gutierrez, 51, has been CEO at Battle Creek, Mich.-based Kellogg (K) since April 1999. Kellogg shares fell 51 cents immediately after news broke that the cereal maker...
  • Bush to Change Economic Team

    President Bush plans to overhaul his economic team for the second time in two years and wants to tap prominent figures outside the administration to help sell rewrites of Social Security and the tax laws to Congress and the country, White House aides and advisers said over the weekend. The aides said the replacement of four of the five top economic officials -- including the Treasury and Commerce secretaries, with only budget director Joshua B. Bolten likely to remain -- is part of Bush's preparation for sending Congress an ambitious second-term domestic agenda.
  • Jobless Claims Hit A 4-Year Low

    11/26/2004 4:35:25 AM PST · by shrinkermd · 14 replies · 633+ views
    Investor's Business Daily ^ | 26 November 2004 | Staff
    New claims slid 12,000 to 323,000 in the week ended Nov. 20. Economists expected little change. The 4-week average, which smooths out weekly swings, slid 6,500 to 332,000, the lowest in four years. Continuing claims fell 25,000 to 2.755 mil in the week ended Nov. 13 to a 3 1/2-year low. The data signal companies may be less reluctant to hire. More
  • Outsourcing: Threat or Menace?

    05/18/2004 4:54:44 AM PDT · by Remember_Salamis · 305 replies · 632+ views
    Capitalist Magazine ^ | May 9, 2004 | Don Luskin
    Outsourcing: Threat or Menace? by Don Luskin (May 9, 2004) Summary: But it's only under a policy of do-nothing economic freedom that we can maximize our chances to find the thing we're good at doing instead of making cheese, steel, or even wine. [] Speech by Donald L. Luskin to the Corporate Finance Council of San Diego. Tonight I'm going to be talking about the controversy over "offshore outsourcing" in the context of a book I'm writing. My book is about the intersection of the science of economics, the power of government, and the influence of the mass media. The...
  • Fighting back on outsourcing

    04/02/2004 12:19:09 AM PST · by JohnHuang2 · 37 replies · 208+ views ^ | Friday, March 2, 2004 | by Bruce Bartlett
    Reluctantly, Republicans have concluded that the outsourcing issue is not going away. Their first response was to shoot the messenger--in this case, Council of Economic Advisers Chairman Greg Mankiw, who simply said the phenomenon is an inevitable byproduct of free trade. House Speaker Dennis Hastert (R-Ill.) called for his head and Mankiw was forced to apologize. Journalist Robert Novak called the White House action "clumsy." With polls showing growing numbers of Americans apprehensive that their jobs may soon be sent to China or India, Republicans eventually recognized that a more appropriate response was needed. According to a March 21 poll...
  • Work ethics

    04/02/2004 12:22:56 AM PST · by JohnHuang2 · 7 replies · 130+ views ^ | Friday, March 2, 2004 | by Jacob Sullum
    When I started working in journalism, strips of copy had to be physically cut and pasted onto boards, which were then photographed to make printing plates. Today, thanks to cheap, powerful computers and desktop publishing software, this whole process is handled electronically: Instead of assembling and transporting boards, you create and transmit files. The shift to electronic composing has reduced the manpower, time and cost involved in putting together a publication. At the same time, it has eliminated all the jobs associated with literal cutting and pasting. Was that fair? The question can't really be answered, and the reason goes...
  • ‘Benedict Arnold’ CEOs fund Kerry; Front-runner has accepted $370,000 this election cycle

    03/02/2004 6:46:31 PM PST · by Jean S · 4 replies · 463+ views
    The Hill ^ | 3/3/04 | Sam Dealey
    Although Democratic presidential front-runner John Kerry often rails on the campaign trail against U.S. companies that relocate jobs abroad, seeking lower tax and wage rates, federal records show that the Massachusetts senator is heavily invested in such companies and has recently received substantial support from some of their top executives. Campaign finance reports reviewed by The Hill reveal that employees at 25 companies identified by CNN’s Lou Dobbs as “either sending American jobs overseas, or choosing to employ cheap overseas labor, instead of American workers,” have contributed more than $370,000 to Kerry’s presidential campaign. On receiving an endorsement from the...
  • Outsourcing and Chapter 2

    02/26/2004 10:09:07 PM PST · by kattracks · 3 replies · 80+ views
    <p>That was quite a brouhaha over the common-sense remarks of Gregory Mankiw, chairman of the White House Council of Economic Advisers. Mr. Mankiw rightly observed earlier this month that "outsourcing is just a new way of doing international trade," whose wealth-creating and living-standard-raising benefits have been indisputable for centuries. Unfortunately, all the attention given to the-gaffe-that-wasn't overwhelmed the consideration that should have been given to the contextual tutorial that Mr. Mankiw and his council colleagues provided in their examination of the U.S. manufacturing sector. It appears as Chapter 2 in the 2004 Economic Report of the President (ERP).</p>
  • Making Big Macs builds jobs?

    02/21/2004 4:06:19 AM PST · by sarcasm · 8 replies · 186+ views
    New York Daily News ^ | February 21, 2004 | Corky Siemaszko
    A White House wonk says building a Big Mac is a manufacturing job. Fast-food jobs should not be considered service sector work because it actually is "combining inputs to manufacture a product" - and should be reclassified as manufacturing work, Gregory Mankiw wrote in the Bush administration's annual economic report. Democrats accused President Bush's chief economist of trying to mask the fact that 2.2 million high-wage jobs have been lost since Bush took office. "Unable to stop the hemorrhaging of American manufacturing jobs, the Bush administration is offering up some world-class job creation sleight of hand: Change the definition of...

    02/20/2004 7:48:03 PM PST · by Willie Green · 14 replies · 390+ views ^ | February 19, 2004 | William Hawkins
    For education and discussion only. Not for commercial use. Gregory Mankiw, Chairman of the Council of Economic Advisers, triggered a political firestorm when he told the Joint Economic Committee of Congress (JEC) on February 10 that outsourcing jobs is “just a new way of doing international trade.” Yet, he was correct in his assessment. It was his total lack of concern about the consequences that provoked even the Republican Speaker of the U.S. House, Dennis Hastert of Illinois, to respond, “I understand that Mr. Mankiw is a brilliant economic theorist, but his theory fails a basic test of real economics.”...
  • The great hollowing-out myth

    02/19/2004 12:57:36 PM PST · by Forgiven_Sinner · 40 replies · 229+ views
    From The Economist print edition ^ | Feb 19th 2004 | From The Economist print edition
    Outsourcing to other countries has become a hot political issue in America. Contrary to what John Edwards, John Kerry and George Bush seem to think, it actually sustains American jobs EARLIER this month, President George Bush's chief economic adviser, Gregory Mankiw, once Harvard's youngest tenured professor, attracted a storm of abuse. He told Congress that if a thing or a service could be produced more cheaply abroad, then Americans were better off importing it than producing it at home. As an example, Mr Mankiw uses the case of radiologists in India analysing the X-rays, sent via the internet, of American...
  • White House Struggles to Halt Flap Over Jobs Report

    02/19/2004 3:03:17 PM PST · by tcuoohjohn · 31 replies · 146+ views
    Reuters ^ | 02/19/04 | Steve Holland
    WASHINGTON (Reuters) - The White House on Thursday struggled anew to contain the fallout over an overly optimistic forecast that 2.6 million jobs will be created this year and some Republicans expressed concern about the damage being done to President Bush (news - web sites). The chairman of Bush's re-election campaign, Marc Racicot, continued a general Bush administration retreat by saying the forecast of 2.6 million jobs was only a "stated goal." "It was a theoretical discussion by an economist," he told NBC's "Today" show. White House spokesman Scott McClellan called it "a snapshot in time by economic forecasters." Since...
  • Rotten Red Meat Watch nuanced analysis go through the liberal meat grinder.

    02/17/2004 6:45:07 AM PST · by ReleaseTheHounds · 2 replies · 88+ views
    National Review Online ^ | February 17, 2004 | Donald Luskin
    Two recent stories illustrate why even seemingly intelligent politicians speak in short, dumbed-down sound bytes. One story has to do with the peak of political power; the other concerns lowly me. Let's start at the peak. Last week, N. Gregory Mankiw, the chairman of the president's Council of Economic Advisors, made the following sensible statement on globalized trade in testimony to Congress as part of introducing this year's Economic Report of the President: Outsourcing of professional services is a prominent example of a new type of trade ... When a good or service is produced at lower cost in another...
  • Bush report: Sending jobs overseas helps U.S.

    02/10/2004 6:47:29 AM PST · by Deliberator · 247 replies · 542+ views
    The Seattle Times (WA) ^ | February 10, 2004
    WASHINGTON — The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday. The embrace of foreign "outsourcing," an accelerating trend that has contributed to U.S. job losses in recent years and has become an issue in the 2004 elections, is contained in the president's annual report to Congress on the U.S. economy. "Outsourcing is just a new way of doing international trade," said N. Gregory Mankiw, chairman of Bush's Council of...
  • Bush Distances Himself from Aide on Exporting Jobs

    02/13/2004 6:11:03 AM PST · by Deliberator · 241 replies · 293+ views
    Reuters ^ | February 12, 2004 | Adam Entous
    HARRISBURG, Pa. (Reuters) - Under pressure from fellow Republicans, President Bush distanced himself on Thursday from one of his top economic advisers who said the outsourcing of U.S. jobs to workers overseas may benefit the economy. "The (economic) numbers are good. But I don't worry about numbers, I worry about people," Bush told students and teachers at a high school in Pennsylvania -- a pivotal state in this year's election and one of the hardest hit by factory job losses during his presidency. Without mentioning by name the chairman of his Council of Economic Advisers, Gregory Mankiw, Bush said he...
  • Outsourcing remarks by White House advisor stir backlash

    02/12/2004 8:43:00 PM PST · by Destro · 67 replies · 282+ views ^ | February 12 2004 21:42 | Edward Alden and Christopher Swann
    Outsourcing remarks by White House advisor stir backlash By Edward Alden and Christopher Swann in Washington Published: February 12 2004 21:42 | Last Updated: February 12 2004 21:42 Gregory Mankiw, the chairman of the White House Council of Economic Advisers, thought he was stating the obvious when he said this week that the movement of some US service jobs to places such as India and China was "just a new way to do international trade". "More things are tradable than were tradable in the past," he said on Monday in releasing an upbeat forecast predicting about 3m new jobs in...
  • Bush's economic advisor under fire for defending outsourcing to India

    02/12/2004 8:51:51 PM PST · by Destro · 225 replies · 265+ views ^ | 22.37 IST 12th Feb 2004 | IndiaExpress Bureau
    Bush's economic advisor under fire for defending outsourcing to India 22.37 IST 12th Feb 2004 By IndiaExpress Bureau A key economic advisor to President George W Bush has come in for sharp criticism by both Democrats and Republicans for defending outsourcing of IT jobs to countries like India. Gregory Mankiw, Bush's Council of Economic Advisors' Chairman and noted Harvard economist, was attacked by the Speaker of the House of Representatives J Dennis Hastert and Democratic Presidential hopeful Senator John F Kerry for suggesting that outsourcing to India and other countries in which they have a comparative advantage is a "win-win"...
  • White House Under Fire for Outsourcing Proposal

    02/13/2004 12:34:45 AM PST · by JustPiper · 24 replies · 401+ views
    Fox News ^ | 2-12-04 | Peter Brownfeld
    <p>WASHINGTON — Under new legislation introduced by a group of Senate Democrats on Thursday, American employers would be required to warn their employees and affected communities before moving any jobs overseas.</p> <p>The Jobs for America Act (search) was introduced in response to President Bush's annual economic report, released Monday, in which he highlighted the benefits of sending jobs to other countries.</p>
  • Bush Adviser Draws Ire for Job Comments (outsourcing)

    02/12/2004 8:40:03 AM PST · by Sender · 8 replies · 135+ views
    Newsday ^ | 2/12/2004 | Martin Curtsinger
    February 12, 2004, 4:04 AM EST WASHINGTON -- Gregory Mankiw, President Bush's chief economic adviser, gained recognition as a Harvard college professor for writing a popular textbook that explained complex economic principles in clear and precise language. But now he's finding that being too clear and precise in the political world can land a person in a lot of hot water. Not only Democrats but the top Republican in the House are castigating Mankiw for comments he made on the hot-button political issue of the outsourcing of American jobs to foreign countries (snip) Copyright © 2004, The Associated Press
  • Bush's 'new Keynesian,' Mankiw

    03/03/2003 8:27:40 AM PST · by AdamSelene235 · 58 replies · 787+ views
    UPI ^ | 3-3-03 | Ian Campbell
    Who is Gregory Mankiw, the 44-year-old Harvard professor nominated this week as U.S. President George W. Bush's new chairman of his Council of Economic Advisers? The key facts seem to be these. He is highly intelligent, wide-ranging in his economic expertise, and an excellent writer. He is a "New Keynesian" and named his dog Keynes. (This we see as very important.) His mentors have been bright and prominent economists, such as Larry Summers, former treasury secretary, and Alan Blinder, formerly of the Federal Reserve. From his early 20s, Mankiw has been close to the powerful. "Choose your mentors well," is...
  • W.House's Mankiw-exports, not imports, hurt US jobs

    11/21/2003 9:06:33 AM PST · by Starwind · 13 replies · 262+ views
    Biz.Yahoo/Reuters ^ | November, 21, 2003
    W.House's Mankiw-exports, not imports, hurt US jobs Friday November 21, 11:31 am ET COLORADO SPRINGS, Colo., Nov 21 (Reuters) - White House economic aide Gregory Mankiw said on Friday U.S. jobs were taking more of a hit from declining U.S. exports than from competition from lower-priced foreign imports. "The decline in U.S. exports is where the jobs are lost rather than being lost to competition from imports," Mankiw, chairman of the White House Council of Economic Advisers, told the Greater Colorado Springs Economic Development Corp. Because of this, he said, "I'm more worried about slow growth in Japan than rapid...