Word: eckstein
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Dates: during 1960-1969
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With the threat of a steel strike postponed until at least Sept. 1 by an interim pay increase of 2.6% to workers, Lyndon Johnson took advantage of the lull in bargaining tension to make public the findings of a four-month study made by Otto Eckstein, a former Harvard economics professor who has been a member of the Council of Economic Advisers since last September. The steel industry, said the 64-page council report, can afford to raise wages 3% this year without boosting its prices. "The prosperity and stability of the whole economy," added the President, require such...
Currently, Otto Eckstein, professor of Economics, is one of three members of the CEA. Lester D. Taylor, assistant professor of Economics, and Lester C. Thurow, who will be an instructor in Economics next year, are now on the Council's staff...
...December of 1962, the emphasis was supposed to be on ideas--ideas for a party without ideas. It had modelled itself after the Bow Group, the successful, though unofficial, research group of Britain's Conservative Party. The first thing it did was to meet with professors, not politicians. Otto Eckstein (now of the President's Council of Economic Advisors), Edward Banfield, and Henry Kissinger were three who talked to the group...
...Gadfly. Ackley is backed up by two bright young economists: German-born Otto Eckstein, 37, and Arthur Okun, 34. Eckstein came to the Council last September from Harvard, where he was editor of the prestigious Review of Economics and Statistics. He will be the CEA's gadfly, probing new ways to bring economic policy to bear on such old problems as unemployment and the balance of payments deficit. Okun, a former Yale economist, is a tall, professorial type who before his appointment last November was best known for his pioneering explanation of the gaps between actual and potential gross...
...Council is well qualified to report on the steel industry, where recent price increases have spread until they cover 16% of total shipments. In Eckstein it has one of the nation's top analysts of the industry; it was his study for Congress in 1959 that produced the startling estimate that the 110% hike in steel prices between 1947 and 1957 accounted for roughly 40% of the entire rise in U.S. industrial prices in that decade. The Council, which makes a specialty of keeping a close watch on steel, has already guided Johnson in his repeated warnings against steel...