Word: ecksteins
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...this state of business mind by mass psychotherapy. But you can't because the attitudes are not irrational. When you are uncertain about the environment for investment, then you will not commit your money, just as someone will not run in the middle of the street blindfolded." Otto Eckstein, head of Data Resources Inc., a Boston-based, computerized economic-forecasting firm, thinks that executives' caution should not even be described as "lack of confidence," but rather as "business realism...
Some outside economists doubt that the Government's calculations are right even now. Otto Eckstein, a member of TIME'S Board of Economists, questions whether the December jobless rate was really only 6.4% and believes it was "physically impossible" for 1.3 million new jobs to be created in November and December, which is what the Administration says happened. But even Eckstein concedes that unemployment is indeed coming down, and President Carter naturally hailed the news with delight. He cautioned, though, that the nation still needs the tax cut of $25 billion a year that he will propose...
There was disagreement over the quality of Carter's economic policy. Otto Eckstein, Warburg Professor of Economics, said yesterday Carter moved the economy in the right direction. Whether it was "luck or skill is irrelevant; it is only important that the economy did well," Eckstein added...
...Eckstein said that he is not interested in giving Carter a grade in the same manner as one of his Ec 10 students. He added that he felt "presidents should be judged by history, not on December 31; by results, not by style." It is too early to evaluate Carter because the president didn't anticipate the difficulties he has had with Congress, Wilson said...
...advisers made overly optimistic predictions in 1973 about the rate at which the University's expenses would rise, in part because the group met before the Arab oil embargo and the continuing energy crisis began to affect the economy. Eckstein said...