Word: ecksteins
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...supply and raise interest rates as an alternative way of fighting inflation. The Fed already has moved twice in the past two weeks to tighten up; last week, in response, Chase Manhattan Bank raised its prime rate on business loans a quarter point, to 8¼%. Democratic Economist Otto Eckstein says that a $25 billion tax cut would be "guaranteed to fail" if it leads to a tighter money policy. He favors both delaying the cut until Jan. 1 and shrinking it to $20 billion...
...Eckstein said that "Economics is the most analytical of the social sciences and the student body is getting more analytical. Student aren't afraid of graphs or a little algebra...
...Otto Eckstein, professor of Economics, said yesterday that "usually when the economy is in trouble and people's own economic future is threatened, we get a lot more concentrators in Economics...
...Eckstein added that in 1973, when a recession was feared, the number of freshmen who chose Economics increased. Only 6.6 per cent of freshmen chose Economics in 1972 compared with 10.1 per cent...
Harrison and Martin said the socialist economies of Western Europe are more effective approaches to the unemployment problem, but Eckstein said, these economies have not had any more success than the United States in creating full employment since the 1974 recession...