Word: eckstein
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Dates: during 1960-1969
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...Otto Eckstein $992 1.9% 4.4% 6.3% 4.3% 4.6% David Grove $981.3 .9% 4.3% 5.2% 4.4% 4.8% Walter Heller $988 .2% .4% .6% 4.3% to 4.5% 4.7% to 5% Robert Nathan $980 1.5% 4% plus 5.5% 4.5% minus near 5% Joseph Pechman $990 2.2% 4% 6.2% 4.5% 4.8% Arthur Okun $987 2% 4% 6% 4.5% minus 5% to 5.5% Beryl Sprinkle $966 none...
...ECKSTEIN: That, I think, is a bit too sanguine. It is too simple to say that once you break inflationary expectations, the problem is solved. We just will not get a quick improvement...
...ECKSTEIN: The Administration is in for some unhappy months. But you have to keep it in perspective. First of all, the unemployment will not be recession unemployment. Small changes in the unemployment rate do not have any visible effect on social unrest. Unrest has been at its peak when unemployment was low. As long as the Administration can show progress toward price stability, and as long as it can keep us out of a recession, I don't think that the voters will have anything to complain about...
...ECKSTEIN: We are really sitting on a time bomb. The private economy would like to get going, and we had better look out that we don't turn it loose too fully or too quickly. If things go badly, and the Administration has to think about antirecession programs, the sensible thing would be to accelerate carefully thought-out proposals-such as the family-assistance program and revenue sharing-rather than rushing into a collection of usually unsuccessful, temporary antirecession measures, such as public works...
Abram Bergson. Economics Otto Eckstein, Economics John Kelleher. Celtic John Montgomery. Government Arthur Smithies. Economics