A guide for the lay person on economic indicators and much much more.
Saturday, November 19, 2011
Meet the Economist- Columbia Professor Naidu
It was in Seattle that he first decided to go into economics. "You
realized, 'There're not very many economists coming out of our political
movement,' and so I thought I could be one of those," he explained.
He studied at the University of Massachusetts at Amherst and then at
Berkeley before arriving at Columbia, focusing on political economy,
economics history and labor economics. His first research paper, which
he wrote with Michael Reich and Arin Dube, showed that an increase in
the minimum wage did not, as many economists assumed, necessarily lead
to an rise in unemployment.
He grew up in Newfoundland, where, he says, dinner occasionally meant
moose curry. His parents came from, in his words, "small villages in
the middle of nowhere, India." He said his visits to those places made a
lasting impression on him.
"You're a 6-year-old and you see your counterpart, who's another
6-year-old, having blond hair from malnutrition," he said. "That will
stay with you."
A few days ago, Naidu reflected on his experiences in the
anti-globalization movement that emerged from Seattle in 1999. "It was
exciting and exhilarating -- and it felt like we were winning," he said.
"I think for like two years we were winning -- and I think we did win.
Now, as a professional economist, I look back on that and think, ‘Wow,
that was a great thing we did -- changing the terms of the debate on
free trade and exposing the politics that were underlying what was
supposed to be win-win for everybody and in fact might not have been."
"Even now that I'm teaching economics," he continued, "so many of the
people that I hang out with, that I associate with, are people that I
hung out with in that period."
"And that is what I think will happen with the Occupieds," he said.
"Even if the movement goes away, the social networks that have formed
will hang around. People will be friends, even if they're no longer
camping together in the camps, and when strangers meet in whatever
venues, they'll be like, ‘You were there,’ and there will be an
immediate rapport. In the long run that will have a big political
impact."
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