Word: ecksteins
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Concern about the deficits united the board's Democrats and Republicans, liberals and conservatives. Said Democrat Otto Eckstein, a Harvard professor who was an economic adviser to President Johnson: "Reagan's economic policy is an off-the-wall approach that rejects conventional wisdom. We're running an incredible experiment with these deficits." Conservative Martin Feldstein, president of the National Bureau for Economic Research, observed, "The Administration has put itself in an impossible position." Even Republican Alan Greenspan, a New York consultant and sometime adviser to Reagan, admitted that the outlook was "extraordinarily bleak...
Despite its comparative popularity, Soc Anal 10 currently has only 937 students enrolled--nearly 100 fewer than last year. Otto Eckstein, Warburg Professor of Economics, attributed the decline to two false fire alarms in Sanders Theater that interrupted the course's first lecture last fall...
...disruptive than earlier ones because they will be caused by tax cuts instead of increased Government spending. That distinction actually means little since the impact of the deficits will be the same: they will soak up capital that could otherwise be used for productive, job-creating investment. Says Otto Eckstein, chairman of Data Resources Inc., an economics consulting firm: "In the situation that we have now, deficits do not necessarily mean inflation. But they do mean loss of capital formation and productivity. That is the kind of thing this Administration does not want to face up to. They are living...
That would be positive for the economy as a whole, in the long run, but it hurts retailers right now. Economist Otto Eckstein, the chairman of Data Resources, Inc., a Lexington, Mass., consulting firm, foresees marked Christmas-spending cutbacks among lower-and middle-income people. These are the consumers who depend most heavily on revolving credit, where interest rates sometimes reach 20% and 21% for purchase payments dragged beyond 30 days. Says Eckstein: "The more you go into blue-collar items, which are found in stores like Sears and K mart, the worse the prospects." Adds Robert Sakowitz, president...
...Mitchell has had astonishing success in luring Harvard's finest. Only a handful of professors--most notably Otto Eckstein and Martin Feldstein--have refused to come to dinner. President Bok is another refusenik, but there have been college presidents in attendance. President Horner was honored at an earlier dinner, and B.U. president John R. Silber accepted an invitation to attend last week. (A last-minute conflict forced him to send his deputy instead.) Of Bok Mitchell says, "We're hoping someday he'll accept our invitation. If the president of B.U. will come to a Harvard alumni group, there...