Word: obamaworld
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...said, "I'm out of vogue right now in the White House ... but I agree." Volcker secured his walk-on-water reputation by taming runaway inflation in the late 1970s, jacking up interest rates and ignoring intense public pressure to reverse course. His grandpa-in-the-attic status in Obamaworld seemed to suggest an Administration too cozy with the Street...
...offer 401(k)s or that his stimulus package has billions of dollars for smart meters. Behavioral science - especially the burgeoning field of behavioral economics that has been popularized by Freakonomics, The Wisdom of Crowds, Predictably Irrational, Nudge and Animal Spirits, which is the new must-read in Obamaworld - is already shaping dozens of Administration policies. "It really applies to all the big areas where we need change," says Obama budget director Peter Orszag. (See the top 10 nonfiction books...
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