Results tagged “economics”

While it's unlikely this Nobel Prize win will bring the attention of that other Nobel winner, it's still worth noting Indiana Univ. professor Elinor Ostrom was named the co-recipient of this year's Nobel Prize in Economics. Ostrom is the first woman to win the award since it's inception over 40 years ago and she shares the award with Oliver Williamson, a professor at the University of California. According to the New York Times, "Ms. Ostrom’s work focuses on the commons, such as how pools of users manage natural resources as common property." [NYT, WBEZ]

There's plenty going on in Chicago's bid to claim the 2016 Summer Olympics. Here's a few of the stories that caught our eye.

After a trip to China to meet with senior Chinese government officials, Illinois 10th District Congressman Mark Kirk took time to discuss his meeting at the Center for Strategic and International Studies, a Washington, DC think-tank. "We heard across the board - in private - substantial, continuing and rising concern," Kirk said. "It's clear that China would like to diversify from its dollar investments." His trip included discussions with Chinese Central Bank cheif central bank chief Dr Zhou Xiaochuan. That statement differed from what Treasury Secretary Timothy Geithner said after meeting with Chinese officials on a separate visit. Geithner indicated that Chinese leaders expressed "justifiable confidence" in the U.S. economy. with some 700 billion dollars invested in Treasury bonds, China is the largest holder of U.S. debt. Earlier this year Dr Zhou proposed eliminating the U.S. dollar as the global financial benchmark.

As you might have noticed, the 1980s hard rock scene produced very few great scholars. There is no Kip Winger, Ph.D., or Mark Slaughter, M.Ed. Vince Neil implored us to call Dr. Feelgood, but never himself M.D.'ed. (Nikki Sixx OD'ed, though.) Blackie Lawless is not an Esq.

Watching the Dow rise and fall in recent weeks has been like riding a roller coaster with a bad case of stomach flu. It sank like a stone last week after Congress approved a $850 billion bailout and the credit markets remained frozen. This week, upon news that the Federal government will be partially nationalizing the nation's major banks, the Dow saw its biggest one-day increase ever. In a year in which we've seen skyrocketing grocery prices in relation to increased oil costs, the thought of paying even more for provisions crossed us more than once.

After months of buildup and debate, the inaugural Chicago Gourmet festival of food and wine kicks off this evening with a gala reception at the Harris Theatre in Millennium Park. You just know that Mayor Daley is eager to showcase the rarefied air of the Chicago restaurant industry mere months before the IOC makes its final decision on the host city for the 2016 Summer Games. He tried to sell the sizzle in this week's edition of Time Out Chicago: