Word: council
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Dates: during 1960-1969
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...board member of half a dozen companies and consultant to many other firms, 3) the author of countless economic monographs and books, 4) an adviser to government officials. Still, when Richard Nixon last week named him to the position of the chairman of the President's Council of Economic Advisers (salary: $30,000), McCracken accepted the post eagerly. As he said to a close friend...
...duty in Government. Iowa-born and Harvard-educated, the 52-year-old economist worked for the Commerce Department and later for the Minneapolis Federal Reserve Bank before joining Michigan's faculty in 1948. Nixon became acquainted with McCracken when he was a member of the three-man Council of Economic Advisers under President Eisenhower from 1956 to 1959. After he returned to Michigan, McCracken befriended a number of educators, auto company executives and newspaper publishers, some of whom dine with him every month in an informal club, relish his summations of the economic outlook. Since Election...
...Small Giant. Now McCracken will head a 45-man staff. Though the council is a pygmy among Washington agencies in terms of size, it can be a giant in influence. Started in 1946 by President Truman, the council rose to real power when John F. Kennedy appointed Walter Heller to be chairman in 1960. Heller was the leading advocate of the Keynesian "New Economics"-the policy of flexibly adjusting taxes, Government spending, and the money supply to influence the economy -and he sold Kennedy on the idea of cutting taxes to stimulate business and employment. His successors, Gardner Ackley...
ATKINS did not stage a Brooke-like campaign. As a student in the Law School, and a former militant executive of the Boston NAACP, Atkins ran for the Council last year as a progressive spokesman for Roxbury. In a mild upset, he came in seventh among eighteen for one of the nine city-wide seats...
Since then, Atkins and White have radically parted ways. The Council has relatively little prestige and influence compared to the Mayor, and in the past year it has tried to improve its position by vigorously challenging White's liberal programs, which require Council approval...