Word: ecksteins
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...have seemed a fearful sin against the spirit of liberal economic doctrine-to say nothing of the spirit in which Jimmy Carter campaigned for the White House. But in the past twelve months, economic and political thought has gone through a wrenching change. In the words of Economist Otto Eckstein, a member of TIME'S Board of Economists: "1978 was the year in which our nose was rubbed in the new reality." Part of the new reality is that inflation is Public Enemy No. 1, that it is persistent and pervasive, and that it has built up such terrifying...
...down quite so hard on growth. Several argue forcefully that the Government should not try to head off the recession or aim at a vigorous expansion once it ends. "It would be a horrendous error to try to fight the recession by anything other than minor palliatives," says Democrat Eckstein, who heads Data Resources Inc., the nation's leading economic analysis firm. Adds David Grove, a consultant to IBM who sometimes sides with the liberals: "The problem that the country has to face is whether it really wants to get the basic rate of inflation down very substantially...
Harvard professors planning to lead sessions at the conference include Otto Eckstein, Warburg Professor of Economics, and Edwin O. Reischauer, University Professor. Eckstein will discuss economic issues and budget priorities while Reischauer will give a session on "American Problems with Japan...
...Otto Eckstein of Data Resources, Inc.: "In the end all the President could do was follow the Republican recipe, to tighten up the economy. It has never worked without a recession...
...tribulations are focusing further attention on the trade problem with Japan. A main cause of the dollar's weakness is the U.S. trade deficit, which may run to more than $30 billion this year; the deficit with Japan will account for almost half of that. Economist Otto Eckstein of Data Resources Inc. in Lexington, Mass., last week declared that what is really needed to restore the dollar's health is "quick and dramatic relief from Japanese imports." In trade, says Eckstein, the Japanese "have done nothing for us." The Japanese, for their part, argue vehemently that they have...