Word: eckstein
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Economics + Computers = $$$ for Eckstein...
They contend such tactics do nothing to root out inflation's basic cause. Even so, many economists believe that to be effective, the White House will have to take a much firmer stand against Big Business and Big Labor. Says Harvard Economist Otto Eckstein, a member of TIME'S Board of Economists: "Quite honestly, at the moment I don't think the Administration's got an anti-inflation program." Unless the White House gets tougher, some economists fear, the job of restraining prices will fall to the independent Federal Reserve Board and its Chairman Arthur Burns...
Despite such programs, the real problem is the resistance of governments, including the U.S., to stimulate their economies because of inflationary fears. The only way to cut unemployment among youth, says Harvard's liberal Economist Otto Eckstein, is "to get the economy going so we have more jobs." When the adults go back to work, the kids will not be far behind...
...that the plan will add "moderately" to the inflation rate, but contends that somewhat higher prices are part of the cost the nation must pay to resolve its "most serious problem." The program should have little or no impact on economic growth, Pechman asserts. Harvard University's Otto Eckstein also believes the plan is workable. If enacted by Congress, he says, the package would add no more than seven-tenths of one percentage point to living costs between now and 1980. Automakers would be hurt, but not disastrously. Though sales of small models would climb under the plan, Eckstein...
Still, Otto Eckstein, a member of TIME'S Board of Economists, forecasts total 1977 housing starts of 1.9 million, down a bit from the March pace but about 24% higher than last year. For the moment, at least, a house in the suburbs appears to eager buyers to be a kind of inflation hedge with crabgrass...