"It's not much of a future," says Georgia Nikolopoulou, who's 28 and has an advanced degree in marine biology. After a two-year search, she could only find work at a clothing shop that's about to go under; six months later, she still hasn't been paid. "We only see dead ends, even though we have studied hard to make lives better for ourselves. Many of my friends are leaving Greece. I think I should, too, but for the ...

The incredible bull market in stocks has produced billions in profits for investors over the past 4 1/2 years -- and millions in losses for those caught in the market's occasional steep downswings. That seesawing continued last week as the Dow Jones index of 30 industrial stocks ended the week at 2235.37, after skyrocketing by 66.47 points one day and dropping by 51.13 the next. Amid the ups and downs, no investor has done better than George Soros, 56. During ...

Like some malefactor being grilled by Mike Wallace in his 60 Minutes prime, Glenn Hubbard, dean of Columbia Business School, gets hot under the third-degree light of Charles Ferguson's questioning in Inside Job. Hubbard, who helped design George W. Bush's tax cuts on investment gains and stock dividends, finally snaps, "You have three more minutes. Give it your best shot." But he has already shot himself in the foot. Frederic Mishkin, a former Federal Reserve Board governor and for now ...

Harvard professor Martin Feldstein used to tell students in his introductory economics class that economists agree on 99% of the issues in the field. From the nature of monopolies to the basic laws of inflation, Feldstein asserted, economists of all political stripes are in accord on the same principles. He claimed that what we read about in the popular press are the 1% of economic issues where the data support no clear-cut conclusion. I'm pretty sure Feldstein was exaggerating the 99-1 split in economics, but ...

Most New Year's resolutions have an awfully short shelf life. By the end of January, folks who swore they would lose weight and shape up may already be back on the Krispy Kremes. But that's not entirely our fault, claims Arthur De Vany, a former economics professor at the University of California, Irvine. In his new book, The New Evolution Diet, De Vany argues if we really want to get fit, we should follow the lead of ...

We have always known that heedless self-interest was bad morals," FDR said in 1937, in the midst of the Great Depression. "We know now that it is bad economics." We learned this all over again after the collapse of Lehman Brothers, the shame of subprime mortgages and the brazen Ponzi scheme of Bernie Madoff. But even amid the Great Recession of 2009, people have been trading in their SUVs for Priuses, buying record amounts of fair-trade coffee ...

Though the ranks of the Whiz Kids in the Defense Department are proliferating, five stand out for the scope and strength of their influence:Alain C. Enthoven, 31, intense and dark-suited, looks more like a young college professor than a weapons analyst. Yet, as deputy comptroller for systems analysis, this young economist must lay bare the calculations on which many defense decisions are made. After graduating from Stanford with honors in economics, spending two years at Oxford as a Rhodes scholar and getting his Ph.D. from ...

It's Nobel Prize announcement week, and if you had Carol W. Greider, Elizabeth Blackburn, or Jack Szostak in your office pool, you're off to a good start (the trio will share this year's Nobel Prize in Medicine). As we await news of the rest of the winners, here are some stories about past Nobel laureates. 1. Robert Lucas, winner of the 1995 Nobel Prize in Economics for his work on the theory of "rational expectations," split his $1 million prize ...

Former Japanese Finance Minister Shoichi Nakagawa, who resigned from his post after appearing intoxicated at a news conference earlier this year, was found dead in his home Sunday, police told CNN. Tokyo police found Nakagawa, 56, lying face down on a bed on the second-floor of his home, Kyodo reported. Nakagawa submitted his resignation February 17, just three days after he appeared intoxicated at the G7 news conference in Rome, Italy. Japan's prime minister quickly appointed Kaoru Yosano, the economics ...

New research suggests penicillin is becoming obsolete, and antibiotic resistance could lead to a "major health crisis" unless governments act to promote research into new drugs. Antibiotics such as penicillin have been key to the decline of infectious diseases over the last 60 years, but bacteria are becoming increasingly resistant to existing drugs. That means many antibiotics are no longer effective at combating common diseases, and a lack of research into new drugs means there is a dire ...