Economics Roundtable

-- Recession? --

Are back-to-back quarters of 0.6% GDP growth a recession? The blogs weigh in at Recession?

Will a 2% Fed Funds rate help? Fed Watch

-- Economic Principals --

David Warsh reports the latest on this year's free agent season for academic economists.

-- EconModel --

The Economics Roundtable is sponsored by EconModel.

Classic Economic Models

Online, interactive models cover micro, macro, and financial markets.

-- Statistics --

137 Commentators
As of 2/19/08, the Economics Roundtable includes 137 commentators.

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- Recent Entries


May 15, 2008, 12:17 pm, 292457

That is the site address for a new blog on feminism and economics.  Allison, the blogger, points us to a YouTube channel on feminist economics.

Here is Allison's advice for economics undergraduates; feel free to add to it in our comments section.


May 15, 2008, 3:00 pm, 292456
I have an article in the latest issue of The American entitled, "The Sovereigns Are Coming!" The main point: No question, the growth of SWFs puts advocates of open capital markets in a quandary. During debates over what to do with the Social Security trust fund a few years ago, ...


May 15, 2008, 2:04 pm, 292455
The report in yahoo news presents an odd twist in relation to government regulation and testing. For me it brings to focus the less than idealogical intent of our current administration.

The Bush administration on Friday urged a federal appeals court to stop meatpackers from testing ...


May 15, 2008, 1:34 pm, 292447
The Fed just doesn't seem to get it. In this blog post at the Wall Street Journal, we see evidence of a disease called Federal Governor Malaise.

The poor fellows can't see the bubbles in front of their face, much less can control them. In fact, ...


May 15, 2008, 1:34 pm, 292446
Inquiring minds have been pondering Volcker's latest statements regarding stagflation, the CPI, regulation of banks, and even the need for an administrator to watch over the Fed.

Let's see where Volcker is right and wrong with his analysis of the current economic situation and what to do ...


May 15, 2008, 11:04 am, 292445

Logging on to my Citibank account this morning, I found this, which recapitulates an email I received a few days ago:

The link takes you here, to a letter which simply begs for parsing.

But before we get to the (ahem) substance of the letter, it's ...


May 15, 2008, 1:23 pm, 292444
I was watching


May 15, 2008, 1:23 pm, 292443


May 15, 2008, 1:03 pm, 292422

"[A] recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."
National Bureau of Economic Research (NBER)

The Federal Reserve reported this morning that industrial production declined 0.7% in ...


May 15, 2008, 12:47 pm, 292421

Here's the new Time (available on newsstands tomorrow) with the story that's been keeping me from doing the quality blogging that you deserve. I'll link to it when it goes up online. The piece isn't really about what the cover ...


May 15, 2008, 11:04 am, 292420

Logging on to my Citibank account this morning, I found this, which recapitulates an email I received a few days ago:

The link takes you here, to a letter which simply begs for parsing.

But before we get to the (ahem) substance of the letter, it's ...


May 15, 2008, 12:45 pm, 292419

I am testifying this morning on SCHIP before the Subcommittee on Health of the House Energy and Commerce Committee. The testimony is very similar to testimony delivered before the Senate Finance Committee in April.


May 15, 2008, 10:54 am, 292418

Yahoo! has 8 "sure fire hires":  jobs that, targeted by today's college students, apparently will make the career search a bit easier right out of college.  I'm no career search analyst or job market forecaster, but I noted how 4 of the jobs specifically listed economics as a useful ...


May 15, 2008, 12:04 pm, 292413
With federal stimulus checks in the mail this month, it's worth reconsidering the much-trumpeted bipartisan accord that was reached in January to jumpstart the U.S. economy -- and all that it fails to do. Read EPI's latest Policy Memo for an assessment of where we are, and where we should ...


May 15, 2008, 11:19 am, 292408

Once again, I think the British are showing how much they get it in the new I-Cubed Economy. In March, the Department for Innovation, Universities & Skills published its new innovation strategy report: Innovation Nation.

The report starts out with a very clear statement: the nature of ...


May 15, 2008, 10:43 am, 292407

One of our readers asked the following: "Sorry if this hijacks the thread, but among the living Austrian economists, who would you say have had the most impact on the mainstream of the discipline? And has their influence been due to uniquely Austrian insights or could their most influential work have been ...


May 15, 2008, 9:39 am, 292406

From TerraPass:

Dear newsletter subscriber,

Just today we launched our petition opposing the gas tax holiday proposed by Senator Clinton and Senator McCain, and already we've gathered 1,000 signatures from citizens who want to send a strong message that this policy is bad for the environment and bad for America.

Will ...


May 15, 2008, 10:38 am, 292405

From Environmental Capital:

Are environmental goods—be they polar bears, tropical forests, or clean air—best preserved with a dollar sign on them? Or does the attempt to put a price on everything lead to knowing the value of nothing?

...

At the heart of the debate is whether the same tools that can determine the ...


May 15, 2008, 10:50 am, 292404

This video reminds me of a time John and I were at yet another thrilling academic conference.  I was in the midst of a typically amazing presentation when I was rudely interupted by some inane question.  After wittily embarrassing the unnamed, but famous, questioner, I calmly walked to the ...


May 15, 2008, 11:01 am, 292403

Update:  Apparently John and I were writing at the same time.  He just writes faster--or has more time to waste--or something.  So I am shortening my post and just giving you my opinion.

From the WSJ Environmental Capital blog:

At the heart of the debate is whether ...


May 15, 2008, 11:23 am, 292401
Every other year, the


May 15, 2008, 3:42 pm, 292400
On April the 18th I asked Can inflation get any worse in Zimbabwe? In the blog I suggested that without the hasty departure of the tyrant Robert Mugabe, things would get worse.  Back in April,... [[ This is a content summary only. Visit my website for full links, other content, and ...


May 15, 2008, 11:05 am, 292367
Here's a passage from the funny column by Fred Grimm in the Miami Herald today.

Corporate executives bent on an Internet smear campaign might first consider the ignominious unmasking of surfxaholic36.

Surfxaholic36 was the online pseudonym a Burger King vice president reportedly pilfered from his young daughter to ...


May 15, 2008, 11:05 am, 292366
Yesterday's post referred to Kevin Modesti's tongue-in-cheek article on sports and economic impact in Los Angeles. On further investigation, it appears that Modesti's story may have been prompted by the release of a "real" economic impact study for sports in LA. The study is discussed here, ...


May 15, 2008, 11:04 am, 292365

We received word yesterday that the South Dakota Supreme Court has declined to rehear the Metropolitan Life Ins. Co. v. Kinsman insurance tax discrimination case; the Tax Foundation had filed an amicus brief in support of the petition for rehearing. South Dakota is one of 8 remaining states that ...


May 15, 2008, 11:57 am, 292364
Corporations in the early 1900s are often depicted as being callously indifferent about the safety of their employees (even more so than today), famously described in Sinclair's The Jungle and Thomas Bell's Out of this Furnace. As Sam Peltzman and...


May 15, 2008, 12:03 pm, 292363
A letter writer provides valuable insight into the relationship between government spending, property taxes and rental rates (before the era of rent-control) in the May 15, 1908 NYT :I am a native-born New Yorker, have lived in many sections of...


May 15, 2008, 11:03 am, 292362
A "Foreclosure Magazine" arrived on my doorstep yesterday. There were close to 200 homes offered for sale as distressed properties, mostly in Orange County, CA with some in the Inland Empire.

Although most of the listing in Orange County are in the $400 to $800 thousand range, there are ...


May 15, 2008, 10:47 am, 292361

Should the Federal Reserve start playing with bubbles? The collapse of two asset bubbles over the last decade — technology stocks and the housing market — is forcing central bank officials to weigh in.

Gary Stern, president of the Federal Reserve Bank of Minneapolis, says the conventional ...


May 15, 2008, 8:22 am, 292360

Ian Brakspear:

During the meal, one of my mates was drinking beer - 750ml bottles of Castle Lager (fondly called bombers) he ordered a 5th one, was advised that the price, which when he ordered his 1st, 2nd 3rd and 4th ones was 160 million per bottle, had ...


May 15, 2008, 8:55 am, 292359

My good friends Devesh Kapur and Arvind Subramanian (along with Pratap Mehta) have written a piece in the FT which takes Larry Summers to task for having expressed views on reforming globalization with which I am broadly in agreement.  They write:

The liberal economic order of ...


May 15, 2008, 10:44 am, 292358
Chain stores have been disliked for decades, at both local and national levels. Taking advantage of economies of scale that lower their costs of doing business, chain stores are able to charge lower prices than smaller independent stores, and therefore attract customers away from their higher-cost competitors.


May 15, 2008, 8:54 am, 292357

The other day I was toiling away when I heard a series of loud bangs. "What idiot is setting off fireworks in the middle of the afternoon?" I wondered. I went out to find out. It was Oakham School's army cadets having shooting practice.
Which set me thinking:  isn't private ...


May 15, 2008, 8:39 am, 292356

In labor economics, a person's pay is determined by his/her contribution to revenue in a profit-maximizing world.  In the simplest competitive market model, the person is paid his/her contribution to business revenue.

But the real world is never as simple as our models.  Consider a world where a person is signed ...


May 15, 2008, 10:02 am, 292354

Personal seat licenses, or PSL's, are a text-book example of the so-called "two-part tariff", a pricing scheme where consumers pay for a good in two installments.  The first part is a flat fee where people essentially buy the right to buy a product.  The second part of the tariff occurs ...


May 15, 2008, 9:36 am, 292355

John LaPlante sent me this note on tradable holidays:

The real problem with holidays is that they are illiquid. You can’t trade them very well, which is why roses cost so much on Valentines Day and the price of a swiftly-dying severed evergreen increases prior to Christmas Day and drops immediately afterwards. Here ...


May 15, 2008, 10:34 am, 292353
Although I believe that taxation is theft, I would gladly support any tax reform plan as long as it substantially lowered tax rates or the total amount of taxes collected. I am not a critic of the FairTax because it doesn't do enough; I am a critic of the FairTax ...


May 15, 2008, 5:24 am, 292346
According to Janet Yellen, president of the San Francisco Federal Reserve Bank: "The 1970s were a horrible period. If there's one thing that has to be very high priority, we don't...


May 15, 2008, 5:17 am, 292347
Felix Salmon - How Unleaded Gasoline Slashed the Violent Crime Rate: ...The main result of the paper is that changes in childhood lead exposure are responsible for a 56% drop in...


May 15, 2008, 9:34 am, 292343
Today's Crimson covers the debate over where introductory economics fits within Harvard's new General Education requirements. For those interested in this inside-baseball topic, here is the full email I sent the reporter:

Ultimately, the issues involving ec 10 and Gen Ed are for the university and ...


May 15, 2008, 8:04 am, 292342

The amazing 26econ.com shows you how to collect your own data with a web survey and Google spreadsheets:

Google spreadsheets has added forms, which allow web users to input data into a spreadsheet that you’ve created. This makes it perfect for running simple surveys. Here’s a quick run-down on ...


May 15, 2008, 9:12 am, 292341

From the Washington Post:

The housing perhaps-not-entirely-a-crisis resembles, in one particular, the curious consensus about the global warming "crisis," concerning which, the assumption is: Although Earth's temperature has risen and fallen through many millennia, the temperature was exactly right when, in the 1960s, Al Gore became ...


May 15, 2008, 8:03 am, 292340

I've somehow managed to avoid so much as mentioning the Clear Channel saga on this blog until now; for some reason I just couldn't get excited about it. But Heidi Moore gets a good quote in her summing up today of why it was so difficult to get a ...


May 15, 2008, 8:22 am, 292339

Ian Brakspear:

During the meal, one of my mates was drinking beer - 750ml bottles of Castle Lager (fondly called bombers) he ordered a 5th one, was advised that the price, which when he ordered his 1st, 2nd 3rd and 4th ones was 160 million per bottle, had ...


May 15, 2008, 9:23 am, 292338
How many of you got your


May 15, 2008, 12:47 pm, 292337
Hello all Just a quickie from me. Found that many of my U6b economists were unsure on the meaning and implications of the 10p tax row. So I designed a very quick guide using a couple of examples:... [[ This is a content summary only. Visit my website for full links, other ...


May 15, 2008, 1:36 pm, 292336
This week’s newspaper headlines have been dominated by the £2.7 bn tax bribe (whoops .... tax adjustment) announced by the embattled Chancellor Alastair Darling to compensate for the fiasco over the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]


May 15, 2008, 9:23 am, 292335

Readers of the Wall Street Journal might be asking this question after seeing it describe several state-level initiatives being pushed by unions in Colorado as "costly." One of the initiatives would require that before carrying through with layoffs, employers demonstrate that there is "just cause" for the action.

Another ...


May 15, 2008, 8:46 am, 292275
A Berliner There is no truth to the old claim that when John F. Kennedy said, “Ich bin ein Berliner” — as opposed to “Ich bin Berliner” — he described himself as a pastry. But the story has truthiness, so it persists. Besides, when I was in 8th grade a German ...


May 15, 2008, 6:48 am, 292274

The paper, from the NBER, is 70 pages long, but the conclusion, from Jessica Wolpaw Reyes, is simple, and stunning:

The main result of the paper is that changes in childhood lead exposure are responsible for a 56% drop in violent ...


May 15, 2008, 8:03 am, 292273

I've somehow managed to avoid so much as mentioning the Clear Channel saga on this blog until now; for some reason I just couldn't get excited about it. But Heidi Moore gets a good quote in her summing up today of why it was so difficult to get a ...


May 15, 2008, 7:29 am, 292272

According to the latest report from the National Venture Capital Association, venture capital investments were down 8.5% during the first quarter of 2008 when compared to the last quarter of 2007. The report also found that deal flow was also down.

The decrease in new deals landing on the ...


May 15, 2008, 6:56 am, 292271

My and Karol's dear friend Betsy Albaugh -- founder and owner of Betsy Fisher, the wonderful womens'-clothing store near Dupont Circle -- sent this site to me yesterday.  In her e-mail, Betsy said "If only people had half a clue as to why this is happening...."  Indeed.  ...


May 15, 2008, 8:04 am, 292270
History: How the US Grew the Military Industrial Complex.

The size of the US national security (war) machine is not related to threats to the nation nor any reasonable or efficient response to those wildly inflated threats. Threats are overstated and the solution to the fake insecurity ...


May 15, 2008, 6:48 am, 292265

The paper, from the NBER, is 70 pages long, but the conclusion, from Jessica Wolpaw Reyes, is simple, and stunning:

The main result of the paper is that changes in childhood lead exposure are responsible for a 56% drop in violent ...


May 15, 2008, 7:23 am, 292264

It's not clear what point the NYT was trying to make in its coverage of the April consumer price report released yesterday.

At one point the article asserts that:

"But most American households do not have the luxury of excluding gasoline and food from their budgets. The details of the ...


May 15, 2008, 7:03 am, 292208
The day in the United States a white Southern senator endorses a black Northern (of sorts) peer as the Democratic nominee for President ...


May 15, 2008, 3:25 am, 292204

Christie's sale on Tuesday night was a stunning success, ratifying the ridiculous levels to which contemporary art has soared in recent years. The Sotheby's sale on Wednesday night, by contrast, took the market to a whole new level. Not only isn't this market crashing, it looks very ...


May 15, 2008, 5:03 am, 292163

May 15, 2008, 5:03 am, 292162

If older workers want to retire later, or are forced to do so, will they be able to find jobs?:

Older Staffers Get Uneasy Embrace, by David Wessel, WSJ: Americans are going to have to retire later, we're often told. They live longer than their ...


May 15, 2008, 3:25 am, 292161

Christie's sale on Tuesday night was a stunning success, ratifying the ridiculous levels to which contemporary art has soared in recent years. The Sotheby's sale on Wednesday night, by contrast, took the market to a whole new level. Not only isn't this market crashing, it looks very ...


May 15, 2008, 2:10 am, 292139

The latest CPI release provided some much needed relief on the inflation front. What caught my eye was some of the discussion regarding the seasonal adjustment. This inspired me to wonder what seasonal adjustment was doing.


May 15, 2008, 2:47 am, 292138
Alan S. Blinder, Jakob de Haan, Michael Ehrmann, Marcel Fratzscher, David-Jan Jansen, 14 May 2008

Central banking has undergone dramatic change in recent decades, and many banks now favour transparency in communicating their policies and forecasts. What does this mean? This column argues that our understanding of the role of central ...


May 15, 2008, 2:44 am, 292137
What a difference a century makes:

1888: America excites an admiration which must be felt upon the spot to be understood. The hopefulness of her people communicates itself to one who moves among them, and makes him perceive that the graver faults of politics may ...


May 15, 2008, 1:23 am, 292132


May 15, 2008, 1:03 am, 292111

Most people know about the Earned Income Tax Credit (EITC). Under this program, payments to qualifying individuals are made once a year. There is also something called the Advance Earned Income Tax Credit (AEITC) that allows qualifying individuals to receive the credit with each paycheck. But even though ...


May 15, 2008, 12:38 am, 292110

Last week, I testified before a subcomittee of the U.S. Senate Judiciary committee about mortgage servicing in bankruptcy. You can read the written testimony or watch a webcast. Both the Chair of the subcommittee, Senator Schumer, and the Ranking Member, Senator Sessions had some harsh words for the current ...


May 15, 2008, 12:44 am, 292109
Just like with gas prices, we hear a lot about food prices being at record levels, but we don't hear as much about disposable income also being at record high levels. How do ...


May 15, 2008, 12:04 am, 292107

James Frey has a new book out.  Bright Shiny Morning. After the controversy with his ‘memoir’, A Million Little Pieces, Frey decided to write another book - a novel, this time. His last book should have been called a novel too. So what? It’s a good book isn’t it? ...


May 15, 2008, 12:04 am, 292106
Yes.

This has been another version of Simple Answers to Simple Questions. Although, as some wag once noted, once is history, twice is parody, but the third time is a trend.


May 14, 2008, 11:02 pm, 292098

Janet Yellen is on the lecture circuit. (Reuters)

"The 1970s were a horrible period. If there's one thing that has to be very high priority, we don't want to go back to a period that is anything like that," she said, critiquing presentations on the economy at a symposium for ...


May 14, 2008, 11:03 pm, 292097

Slicing the demographic pie for political analysis:

Polling's fuzzy math, by Crispin Sartwell, Commentary, LA Times: American "political analysis" has become obsessed with demographics.

For example, pundits and pollsters held that the Democratic contests in Ohio and Pennsylvania between Hillary Rodham Clinton and Barack ...


May 14, 2008, 10:47 pm, 292096
Two quotes about the requested state subsidy of the Mall of America:

1. Mall of America executives, planning a $2 billion expansion of the mall, are continuing to press for nearly $400 million in state subsidies. Mall officials warn that the mall has "no chance of being built" ...


May 14, 2008, 10:34 pm, 292095

Why did Cablevision buy Newsday?

This week's big media news is the acquisition of Long Island-New York-area tabloid Newsday by cable TV company Cablevision. Cablevision bought the rag from the tottering Tribune Company, for over $620. In doing so, Cablevision outbid News Corp.'s Rupert Murdoch (Wall Street ...


May 14, 2008, 8:26 pm, 292076

There is something about the Future Fund that brings out the latent statism of the commentariat.  Here’s Alan Kohler, praising the growing amount of revenue being hoarded by the Australian government:

Sometime next year Australia will have its own $US100 billion sovereign wealth fund (SWF) and the ...


May 14, 2008, 9:03 pm, 292075
As I mentioned in the previous post, most condos are not included in the new home sales and inventory numbers from the Census Bureau (they are included in housing starts).

Here are some numbers for the Chicago market from the Chicago Tribune: Record condo numbers to saturate downtown ...


May 14, 2008, 8:08 pm, 292074

German president Horst Köhler has some strong words about international financial markets:

Global financial markets have become “a monster” that “must be put back in its place”, the German president has said, comparing bankers with alchemists who were responsible for “massive destruction of assets”.

In some of the ...


May 14, 2008, 6:54 pm, 292067

From the Toronto Star:

More money for GM despite layoffs, McGuinty says:

Premier Dalton McGuinty says Ontario will give General Motors more money for new projects, despite thousands of layoffs announced by the automaker.

GM wants the Ontario and federal governments to contribute about $140 million towards a new engine plant in St. Catharines, ...


May 14, 2008, 7:24 pm, 292066
A


May 14, 2008, 7:04 pm, 292049
Selected items carelessly omitted in economic impact studies, from an LA centric Kevin Modesti:

$743,000 to auto-body shops for repairs made necessary by fender-benders at exits from Dodger Stadium parking lot.

$249 million to tattoo parlors and hair stylists from David Beckham.


May 14, 2008, 7:03 pm, 292048

This article from the Cleveland Fed compares the jobless rate for men and women to the unemployment rate. The jobless rate entire working-age population in the estimate labor market weakness, not just the labor force as in the unemployment rate calculation (the difference includes factors such as discouraged workers). There ...


May 14, 2008, 6:21 pm, 292047
Greg Mankiw discusses reasons to veto the Farm Bill. Here are two posts from Mike on the biases discussed by Caplan and a debate about agricultural subsidies featured in an issue of the Costco newsletter about a year ago....


May 14, 2008, 7:12 pm, 292046
I finally figured out some of the problems I've had with uploading papers to SSRN. It works in Internet Explorer; I haven't been able to do it with Firefox. In any event, I've uploaded two papers about Hurricane Katrina, one...


May 14, 2008, 7:03 pm, 292045
The NY Times has an article on the negative externalities of some Condo Life: Foreclosures, Higher Fees and Mowing the Lawn

When people buy condos, they expect their monthly fees will cover many of the responsibilities that they would otherwise have as single-family homeowners, like cutting the grass and ...


May 14, 2008, 6:47 pm, 292044
The Christian Science Monitor reports that the Congress has passed a bill that does something I consider good: Stop buying oil for the Strategic Petroleum Reserve. The economics is quite simple, as Thomas Sowell explains: Gas prices are high because demand is up.

Is there ...


May 14, 2008, 4:59 pm, 292043

David Gaffen is watching the VIX decline to levels well off its March highs, and back towards its lowest point of the year to date. Meanwhile, Alea is watching financial-instution credit default swap spreads decline to levels well off their March highs, and back towards the lowest point ...


May 14, 2008, 6:04 pm, 292037

It’s regularly stated that the size of the average (new) American home has doubled since 1950, and implied that this increase has continued fairly steadily over the intervening decades. This seems a bit surprising given that (on standard measures) real wages for large groups of workers have not increased ...


May 14, 2008, 5:34 pm, 292030
Bloomberg is reporting Foreclosures Climb 65% as Loan Workouts Fall Short.

U.S. foreclosure filings climbed 65 percent and bank seizures more than doubled in April from a year earlier as mortgage industry efforts to modify loans fell short.

More than 243,300 properties were in some stage ...


May 14, 2008, 4:49 pm, 292029

In announcing the decision to protect polar bears under the Endangered Species Act:

While the legal standards under the ESA compel me to list the polar bear as threatened, I want to make clear that this listing will not stop global climate change or prevent any sea ice from melting.  Any ...


May 14, 2008, 5:33 pm, 292028
The Scotsman 14 May:

"University bids for Smith's home"

"An ÂŁ800,000 bid by Heriot-Watt University to buy the former home of the "father of economics", Adam Smith, has been approved by councillors. The decision over Panmure House in Edinburgh's Old Town, where he lived from 1788 to ...


May 14, 2008, 4:59 pm, 292027

David Gaffen is watching the VIX decline to levels well off its March highs, and back towards its lowest point of the year to date. Meanwhile, Alea is watching financial-instution credit default swap spreads decline to levels well off their March highs, and back towards the lowest point ...


May 14, 2008, 5:03 pm, 291963
From Bloomberg: Freddie Mac Accounting Changes Reduce Losses By $2.6 Billion (hat tip SC)

A change in the way the company values some assets that aren't traded reduced credit losses by $1.3 billion, while a separate rule that lets the company pick and choose which assets to measure contributed ...


May 14, 2008, 4:47 pm, 291962

Here are remarks as prepared for delivery by Interior Secretary Dirk Kempthorne on Wednesday, in which he said the polar bear must be protected because of the decline in Arctic sea ice from global warming. But he also said that regulators must prevent unintended harm to the U.S. “society and ...


May 14, 2008, 4:46 pm, 291961
Funniest line I read today: Mark Thoma, linking to an op-ed titled “Is Larry Summers the Canary in the Mine?”, writes: I have a hard time picturing Larry Summers as a canary. Besides, the nickname Tweety is already taken. No Tags


May 14, 2008, 4:46 pm, 291960
Sex worker:

(1) a prostitute

(2) anyone in a sex-related occupation, including a psychiatrist with a specialization in sexual disorders or a cashier in a convenience store that rents adult videos

(3) someone in an occupational category broader than (1) and narrower than (2), the precise definition ...


May 14, 2008, 4:05 pm, 291958
Mention the word recession to members of the fashion elite, and you'll get some colorful reactions. Among high-end retailers, a grim optimism is de rigueur. Burt Tanksy, CEO and president of Neiman Marcus, recently quipped: "Remember, when our customer tightens their belt, it's generally ostrich or alligator."

[more ...



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