Word: ares
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Dates: during 1960-1969
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The majority of economists outside Government believe that U.S. business still has enough momentum to avoid what would be the first recession in nine years. They point to such sources of strength as record capital investment. Still, businessmen have a sense of foreboding. That anxiety has been intensified by the...
Most economists also follow the teaching of Britain's late John Maynard Keynes, who articulated how changes in taxes and government spending can stabilize business cycles. The philosophy of Keynes, who died in 1946, has dominated the economic policies of industrial nations since World War II. Today's prevailing belief...
(10 of 10) abandon many of their inflationary programs and practices. The Nixon Administration this year began a joint Government-business-labor effort to avoid work stoppages, end restrictive practices and reduce price increases in construction, the nation's most flagrantly inflation-ridden industry. The highly inflated costs of medical...
Friedman deprecates the role of his rhetoric in winning acceptance for his ideas. "People are persuaded by the evidence of experience," he says. As for his own role, he adds: "all one can hope to do is move things in the direction they ought to go. I try to be...
Milton Friedman's opinions have particular weight now because the Nixon Administration has placed great reliance on the policies that he prescribes to deal with the current inflation. Friedman was one of Richard Nixon's chief economic advisers during the election campaign. He did not seek a full-time job...