article thumbnail

How Economics PhDs Took Over the Federal Reserve

Harvard Business Review

What wasn’t really up in the air was whether the new head of the world’s most powerful central bank would have a doctorate in economics. One obvious and unsurprising trend in the chart is that overall educational standards have risen. History has not judged his tenure well.

article thumbnail

Why Can’t We Stop Working?

Harvard Business Review

Harvard happiness researcher Daniel Gilbert has shown that children don’t increase parents’ short-term happiness ; in fact, on a day-to-day basis, parents prefer almost anything (from watching television to exercising) to spending time with their kids. The arc of family life is different. I’ll be happy when I make the 40 Under 40 list!

article thumbnail

There's No Formula for Fixing Detroit, and That's a Good Thing

Harvard Business Review

A small group of affluent, well-educated Creative Classers (and a larger number of occasional suburban visitors) has occupied an island in a sea of economic despair. They''ve also been troubled, and Cleveland even defaulted on some bank loans in the late 1970s. Young, upwardly mobile people are actually moving to Detroit.