Are Law Schools and Bar Exams Necessary?

The old college battle between lawyers and economists is also being fought on the opinion pages of the New York Times. Interesting article!

Moving From the Post-Bubble, Post-Bust Economy to Renewed Growth and Competitiveness

Notwithstanding repeated attempts at monetary and fiscal stimulus since 2009, the United States remains mired in what is by far its worst economic slump since that of the 1930s. This paper lays out a three-pillared recovery plan that Daniel Alpert (Westwood Capital), Robert Hockett, (Professor of Law, Cornell University) and Nouriel Roubini (Professor of Economics, New York University) have designed. Read the executive summary and the full paper here.

Lightness of being

Americans are not as gloomy as economic data may suggest, The Economist writes.

World competitiveness in 2011 and beyond with Stéphane Garelli (IMD)

The long-term unemployed: The ravages of time

One might expect unemployment to carry less stigma after a deep recession—bad times, rather than personal shortcoming, being the more likely reason for a sacking. Yet a worker’s lifetime earnings are hurt more by a job loss in a weak economy. An experienced worker laid off when unemployment is at 9% faces a reduction in lifetime earnings nearly twice that of someone sacked when the rate is 5%: a loss of 20% on average, writes The Economist.