Word: administrationitis
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Dates: during 1970-1979
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So far even the populist Carter Administration has backed Volcker's high-interest policy. Yet banks have had plenty of money to lend anyway-perhaps too much. In the past month, the money supply has grown at an annual rate of 11.5%. Beryl Sprinkel, executive vice president of Chicago...
The Carter Administration last week attempted to revive its moribund voluntary guidelines by creating a 15-member committee, including representatives of labor and management, that will recommend new wage standards to replace the current 7% guide. Since unions had strongly opposed the guidelines, forming the committee was a step toward...
Greenspan, who as chief economist in the Ford Administration devised the measures that helped pull inflation down from 12.2% in 1974 to 4.8% when Jimmy Carter took office, is the most confident of the board members that stringent fiscal and monetary policies alone can work again. He predicts that if...
The financially straitened Chrysler Corp. got a felicitously timed lift last week in its drive to persuade Washington to approve federal guarantees for loans from private banks. The Economic Development Administration decided to guarantee loans totaling $111.1 million for the Jones & Laughlin Steel Corp. to install pollution control equipment. Though...
On free enterprise. Everyone wants to engage me in a philosophical debate on free enterprise, but the free-enterprise system has gone to hell. Other companies have gotten federal aid, but it was "different." The Federal Housing Administration loan guarantees are "different." The agricultural subsidies on tobacco are "different." Everything...