Word: counciling
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Dates: during 1960-1969
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...ordered a search for the man who knew most about depressions and their causes to head the President's Council of Economic Advisers. The search soon narrowed to Burns...
...making the transition from an imaginative interpreter of Catholic dogma to a shepherd, and he turned into an enthusiastic innovator for his flock. He democratized the administration of his diocese: he permitted his 583 priests to elect his chief aide, the vicar-general; he set up a clerical advisory council of elected members, and invited the auditing of the diocese's finances by a lay committee. One of his first moves was to appoint the Rev. P. David Finks, a youthful clergyman involved in civil rights causes, to serve as his "vicar for the urban ministry" in charge...
...question that bothers some fellow economists is whether Burns will demonstrate the necessary flexibility and adopt an expansionary policy at the right time. His record in that respect is mixed. Intellectually, Burns recognizes the Government's obligation to maintain prosperity. As chairman of President Eisenhower's Council of Economic Advisers from 1953 to 1956, he agreed to increases in Government spending and in the credit supply that his successor, Saulnier, thought were too expansionist. In early 1960, he advised Nixon, then Vice President, that federal spending should be increased and credit eased to head off a recession that...
Some high Administration officials have come closer than ever before to saying that recession may be the price of curbing inflation. At a meeting of the Business Council in Hot Springs, Va., Treasury Secretary David Kennedy predicted last week that in early 1970 there will be a decline in real gross national product. While Kennedy would not use the word recession, some economists define recession as a decline in real G.N.P. for two straight quarters...
Burns will hardly have the trouble with Nixon that Martin had with Johnson. Burns is Nixon's favorite economist, and the saying in Washington is that "when Arthur talks, Nixon listens." The President has said that his choice of Paul McCracken to head the Council of Economic Advisers was made on the advice of "my good friend," Arthur Burns. It was Burns who also recommended Herbert Stein as a member of the three-man council and George Schultz to become Labor Secretary. His closeness to Nixon raises a somewhat ironic problem. The Federal Reserve is supposed to be independent...