Word: ecksteins
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...Otto Eckstein, professor of Economics, told the Senate Budget Committee Wednesday the unless the government immediately takes strong stimulating measures the economy will quickly slide into its worst post-war recession...
...Harder. Other politicians and economists are clamoring for a loosening up of fiscal as well as monetary policy. Says Harvard's Otto Eckstein, a member of TIME'S Board of Economists: "By early 1975, the recession is likely to be sufficiently severe that the moment for modest personal income tax reduction will be appropriate...
...nature of the conservative reaction is revealing: Associate Professor Bowles was defeated in his 1972 tenure bid by a 15 to 5 vote of the Economics Department tenured faculty. Even liberal Democrats on the faculty, like Otto Eckstein and Robert Dorfman, opposed Bowles. The radicals saw the faculty saying that, in a liberal university, all ideas are to be tolerated-except those ideas that critically undercut the very basis of liberal scholarship, the liberal credos of the scholar as an impartial observer of society and the university as an ivory tower outside the influence and direction of the prevailing social...
Prices are certain to go even higher. The wholesale index in August soared 3.9%, to a harrowing annual rate of 46.8%. Says Economist Otto Eckstein of Harvard: "If the wholesale index does not do dramatically better by, say November or December, then the outlook is pretty grim." One hopeful sign: after several years of going straight up, prices are dropping on many raw industrial commodities, including cowhide, copper, rubber, wastepaper, cotton, lumber and steel scrap. They are declining largely because of reduced demand...
...Administration policies, there emerged an overwhelming economic consensus that the battle against roaring inflation will be long and painful, and during its course the nation will suffer a protracted period of stagnant production and rising unemployment that by any name will amount to a recession. Said Democratic Economist Otto Eckstein: "The economy will suffer a recession, which seems to be the price we have to pay to bring the inflation under control...