Word: arrows
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Dates: during 1970-1979
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...There is zero chance that the Arrow Committee proposals will be implemented by next year, particularly the one recommending the hiring of two instructors to teach courses on socio-economic problems." James S. Duesenberry, chairman of the Economics Department
...Arrow talked earlier this year about leaving Harvard to accept a teaching position at Stanford, reportedly for mostly personal reasons. Although he later decided to remain at Harvard for now, Arrow said that he had not ruled out reconsidering his decision next year...
While there is no evidence that Arrow is using his indecision as a negotiating tactic, he doesn't explicitly have to. The department cannot preemptorily reject the committee's recommendations without the risk of offending Arrow...
...another reason, too, Arrow is at the center of the department's current problems. He is the youngest of the department's great individualists, men such as Simon S. Kuznets, Baker Professor of Economics Emeritus, Wassily W. Leontif, Lee Professor of Economics, and John Kenneth Galbraith, Warburg Professor of Economics, on whom much of the department's reputation has long been founded. But Kuznets has retired, and Galbraith and Leontief are in their sixties...
...Arrow ranks among these figures as a man who has pioneered a new field of economics. At the age of 52, he is not a man Harvard can afford to lose, and it may be this fact alone that could give the committee proposals a most serious airing in the next few months...