Economists: Edie's New Mind & Manners

Investment-counseling firms often seem to wield a power far out of proportion to their size. Bankers, business leaders and bureaucrats pore over their forecasts. Pension plans, trusts and mutual funds sometimes swing on their recommendations. And while no one claims that they can change the economy, they sometimes come close—simply by changing their own economists. Last week one of the leading consultants, Manhattan's Lionel D. Edie & Co., ordered just such a switch.

Out With the Aura. To take over its top titles of chairman and chief economist, the firm chose James...

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