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By Mangosuthu Buthelezi
Memories of a long brotherhood tempered in common struggle
Independent voices from the The Washington Times Communities
Topic - Robert Lucas
Had Julius Caesar met George Washington in 1760, he would not have experienced much of a cultural shock. Both belonged to a small class of elites who enjoyed the fruits of slave labor and land rents. For most people, barely anything had changed in terms of standards of living or life expectancy during the 1,800 years separating the Roman statesman from the leader of the American Revolution.
The economists won for research on the cause-and-effect relationship between the economy and policy instruments.
Nobel Prize-winning economist Robert Lucas famously noted that "once one starts to think about [economic growth], it is difficult to think about anything else."
Robert Lucas, a University of Chicago economist who won the Nobel in 1995, said the work of Sargent and Sims is timely now that policymakers are debating whether to do something to stimulate the U.S. economy.