After irking the Chinese with the award of the Nobel peace prize last week, the Nobel committee set a few feathers flying in Washington today by awarding the economics prize to Peter Diamond, an MIT professor who has also been nominated by President Barack Obama for a spot on the Board of Governors of the Federal Reserve.
Tales from the Trail
The term gridlock may have first entered the vocabulary during the 1980 New York transit strike, reportedly coined by “Gridlock Sam” Schwartz, chief traffic engineer in the city’s transport department. In those days it was definitely not something to aspire to. It is a different story in 2010.