Economists have debated this for 50 years, beginning with a paper by Arnold C.
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But behavioral economists have shown that people predictably behave in ways that objectively defy rationality.
Economists have demonstrated that real wages have to rise as long as the immigrants are self-supporting.
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It's also, as some economists have noted, it's as though employers are on a hiring strike.
Prominent economists have called on Greece to abandon the euro, but they are fools.
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Implementation of any plan is the crucial element, Chinese and foreign economists have argued.
Scientists and economists have said this plan risks leading to catastrophic and irreversible climate change.
Economists have long seen patents as important to driving innovation and economic growth in an economy.
Behavioural economists have noted that people can be turned off by having too much choice.
So far, economists have found measuring the costs of trade much easier than measuring its benefits.
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Economists have a statistic with which to measure this reluctance to part with a dollar.
Independent Vietnamese economists have criticised the timing of the government's devaluations and price rises.
In recent days, two serious economists have launched strong arguments against this "supply side pessimism".
Economists have been talking for decades about why some countries get wealthy, and some do not.
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And economists have long been wary of monopolies because of the potential for perverse effects.
Humphries and other economists have predicted a bottoming out of U.S. home values in 2013.
The Bank's economists have also scaled back their estimates of how much trade reduces poverty.
This is what independent economists have said -- not politicians, not just people in my administration.
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In addition, economists have long realized that unions can create value, and not just redistribute it.
Economists have accordingly been pulling out their ready-reckoners for how various oil prices might affect growth.
Which is really just a validation of what the economists have been saying for centuries really.
Until recently, economists have been sceptical of claims that higher health-care spending results in better health.
Economists have forecast that if the fiscal cliff occurs, it could push the U.S. into a recession.
For years economists have predicted that America's huge current-account deficit would eventually cause its currency to plunge.
Other economists have described the Chinese hard landing as the greatest deflationary risk to the global economy.
In fact, economists have suggested that optimism was a root cause of the financial downfall of 2008.
For some time, it must be said, orthodox economists have found Mr Mundell's arguments hard to follow.
Over the past 12 months unemployment has not fallen as quickly as economists have come to expect.
Economists have traditionally believed that an increase in the minimum wage (as well as mandated benefits) causes unemployment.
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Even the most bullish economists have expected economic growth to slow in the second half of the year.
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