Word: feldstein
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...Social Analysis "Ec 10" course last year, Baker Professor of Economics Martin S. Feldstein '61 told his Harvard audience, "There's some good news this month: Unemploment edged upwards..." without anyone blinking...
...example is classic. Feldstein's point was not that he likes unemployment but that it was neccessary to throw a few hundred thousand more economically marginal Americans into the face of poverty in order to provide for the financial security of tenured professors and the rest of the bond-holding class...
...Social Analysis 10, sexist jokes have a different effect; they serve to discourage women from the field of economics. In his lecture of October 2, Baker Professor of Economics Martin S. Feldstein '61 told a joke about the problems of American capitalism as symbolized by a stereotypical nuclear family...
...Feldstein told the class that if the joke "helps you remember the main components of production and growth, so much the better...
...Feldstein surely did not intend to discourage women, but his suggestion that students use jokes about housewives and abused maids as study guides is not likely to produce a more genderbalanced department. Economics is one of the most popular majors for women at Wellesley--and people justifiably wonder why so few women choose the department here...