Word: cea
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Dates: during 1970-1979
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...program or testifying to a congressional committee, which he often does. Both political parties eagerly seek his counsel. He was an adviser to Jimmy Carter's '76 campaign, turned down a bid to join Gerald Ford's Council of Economic Advisers, and is often spoken of as a future CEA chairman, probably in a Republican Administration...
...pace and keep on the payroll workers who do not have much to do). But the annual report of the Council of Economic Advisers, submitted to Jimmy Carter last week and sent by the President to Congress with a covering letter, pretty well blew away that theory. Productivity, the CEA pointed out in the report, has not recovered during the past two years of expansion. In fact, productivity throughout the private economy rose only 1.6% in 1977 and a miserable .4% last year. Indeed, the report pessimistically suggests that the U.S. may be entering a new era in which productivity...
...more and more money into costly antipollution equipment and devote increasing attention to complying with health and safety rules, rather than buying productive machinery and figuring out more efficient operating methods. Though lives undoubtedly have been saved and the air and water cleansed, the price has been high. The CEA estimates that regulation may be cutting annual nonfarm productivity growth by four-tenths of a percentage point...
...fiercely whether the chief reason has been tax policies that favor consumption over investment or business fear that recession and/or inflation will wipe out the profit on new investment. In either case, the result has been to slow the introduction of cost-cutting, labor-saving machinery and, says the CEA, to slash the growth of productivity by half a percentage point each year...
...Change in the work force. Since the mid-'60s, women and youths born during the postwar baby boom have flooded into the job market. Many lacked the training and experience to become highly productive workers in their first few years. By the CEA's estimate, industry's reliance on them to fill jobs has lowered productivity more than a third of a point per year...