Word: blaylock
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Correspondent William Blaylock's introduction to the once unassailable economic theories of John Maynard Keynes took place eleven years ago in a classroom at U.C.L.A. "The professor lectured convincingly that economics was a 'science,' that the Keynesian consensus had finally ensured a stable and inflation-free America," recalls Blaylock, who now regards such pontificating as painfully naive. "Not only has economics soured into a dubious science, but the consensus that characterized economic policymaking in Washington for two decades has crumbled." Within a single day's reporting for this week's cover story, Blaylock heard...
...Says Blaylock: "What has become increasingly apparent is the great difference of views between numerous esteemed economic thinkers and the consequences of this, namely the unsettled, contradictory pull they are exerting on Government policymakers. It is also apparent that the battle for Ronald Reagan's mind has yet to be won." Senior Writer George J. Church, who wrote the cover story, thinks that economists are in disagreement "because, along with the rest of the country, they are learning a whole new set of economic rules...
...love to be here, but this is where the action is," says Bob Blaylock, 25, a roughneck who makes $1,300 a week installing oil-rigging equipment. "This is Oil City, U.S.A., and you can put up with...
...Alexander Taylor. Reported by William Blaylock Washington and other U.S. bureaus...
...precious metals, including gold. Some lower Treasury officials last week discussed how to stem the gold and silver stampede, but decided to hold back when rumors of a gold auction alone were enough to cahn the markets. Said one Treasury official to TIME Washington Economic Correspondent William Blaylock at week's end: "We are not going to do a darned thing today. Our attitude on gold and silver continues to be to sit back, watch and do nothing...