Word: ecksteins
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...Otto Eckstein...
...some drawbacks. A study by Otto Eckstein's Data Resources Inc. notes that it would slow the economic recovery by slightly increasing prices. This would crimp sales and production and thus retard a return to full employment. The study estimates that with the VAT the jobless rate at the end of 1973 would be an estimated 5%, v. 4.8% without it. The VAT will meet determined opposition in Congress. Democrats and labor chiefs see it as another regressive levy that adds unfairly to the burden of the poor and the lower middle class. But whatever happens...
...think that Christmas sales will be pretty darn good. Not a boom, but better than last year." Ralph Lazarus, chairman of the Federated Department Stores chain, sees a sales increase in the fourth quarter of 12% over last year or, excluding price increases, a real growth of 91%. Otto Eckstein, a member of TIME'S Board of Economists, also estimates that the real growth in retail sales for Christmas will be about 9%. Including inflation, a First National Bank of Chicago study reports that sales for Christmas and the first half of 1972 will climb by as much...
...statement to Peking radio. It will have to make decisions and take actions, and more often than not that will mean compromise. In the long spell, practical politics in the pursuit of attainable goals could be the death of dogmatism in China. But, as University of Michigan Sinologist Alexander Eckstein notes, "We are still far from out of the woods with China." In other words, the men from Peking should be good for several spectacular seasons at the glass-and-steel soapbox in Manhattan...
...OTTO ECKSTEIN, Harvard professor and former member of the Council of Economic Advisers...