Word: ecksteins
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...Next year, says Greenspan, the G.N.P. should do even better, increasing by $111 billion, to an awesome $1,263 billion or so. Sweeter still, Greenspan predicts that more than 6% of this year's growth will be real and not caused by rising prices. Another board member. Otto Eckstein, puts the growth figure at $101 billion for this year and about $110 billion for next year...
...examined by three members of TIME'S Board of Economists: Walter Heller, who was chairman of the Council of Economic Advisers under Presidents Kennedy and Johnson; Beryl Sprinkel, a Republican and senior vice president of Chicago's Harris Trust & Savings Bank; and Harvard's Otto Eckstein, a CEA member in the Johnson Administration. Their appraisals...
...OTTO ECKSTEIN. What we are seeing now is really the New Politics versus the Old Politics, and the rise of a new generation to political power. If McGovern becomes President, he will do so because he has the support of a different group of people from those who would back a traditional, "old" political candidate who would be, after all, financed heavily and supported by the old political machines. The change would manifest itself in at least two ways. The first is the general area of business-Government relations-for example, the ITT case. It would not be possible under...
...special weekly reports on meat prices, which have soared 14% in the past year. C. Jackson Grayson, chairman of the Price Commission, scheduled hearings on all food prices for next week. A growing number of economists, including at least two members of TIME'S Board of Economists-Otto Eckstein and Robert Nathan-favor placing farm prices under direct federal control. They warn that if food prices during March show anything like the February increase of 23% on an annual basis, the entire structure of Phase II may totter...
Inventories are not expected to hit exuberant levels for some time because of lingering caution. Beyond that, computers have helped corporations more finely to mesh their purchases of supplies with their production needs. Says Otto Eckstein, a member of TIME'S Board of Economists: "Inventory growth will be relatively low for the year-about $6 billion, compared with the $11 billion growth that would be normal when coming out of a recession." President Nixon, in his Economic Report to Congress last week, projected inventory accumulations of $8 billion for the year and a moderate 8% rise in consumer spending...