Profile: Jay Zagorsky
Economist & Research Scientist
Since 1995 I have held the position of Research Scientist at The Ohio State University, where I collect data as part of the National Longitudinal Surveys on income, wealth, and life experiences of thousands of Americans. My personal finance research has been widely quoted in the media and has been highlighted in the Wall Street Journal, USA Today, Fox News, Good Morning America, Scientific American and numerous other news outlets.
Besides publishing numerous scholarly articles I wrote the book 'Business Information: Finding and Using Data in the Digital Age' for McGraw-Hill/Irwin and 'Business Macroeconomics: A Guide for Managers, Traders and Practical People.'
I also teach at Boston University's School of Management. From 1988 to the present my teaching has spanned a wide range of levels from senior executives taking intensive classes to high school students encountering economic theories for the first time. I have taught giant lectures of over 450 students, classes of fifty, and small seminars with fewer than ten people.
NoteStreams By Jay Zagorsky
A few days after taxi drivers staged violent protests in Paris, Uber suspends its lower-cost UberPop until the French Constitutional Court determines whether the service is legal under French law. The Uber situation reminds us of French economist Frédéric Bastiat, who, while famous in his day, is relatively unknown now.
On Monday, the world’s stock markets continued to fall after suffering steep losses the previous week. The Dow Jones Industrial Average, one of the most widely followed indexes, opened for trading by dropping more than 1,000 points in the first six minutes, or about 6.5%. What does this mean for investors and the rest of us? In my view, there are three important ideas to keep in mind as we assess the impact of a plunging stock market on the economy and our wallets.