Word: ecksteins
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...inflation, jobs and the dollar. Indeed, the President's new package contains many ideas long advocated by Okun and the eight other members of TIME's Board of Economists. The board cheers Nixon's new activism. "It's a triumph in common sense," says Otto Eckstein. Walter Heller agrees. "It's a historic initiative. The economic world will never be quite the same again...
...OTTO ECKSTEIN, former member of the CEA (1964-66). "The absence of an incomes policy now is absolutely indefensible. A new office should be set up, headed by a single presidential appointee and staffed by men of the President's choosing. They would draft and implement a firm set of principles on wages and prices. They would have a set of standards to distinguish between so-called 'catchup increases' and new inflationary increases." KERMIT GORDON, former member of the CEA (1961-62). "I am opposed to mandatory controls, but I do feel that wage-price guideposts...
...Solomon, 34, will join Henry Kissinger's staff, fresh from his eminently germane study of how the Chinese communicate with both foreign friends and American opponents. Allen S. Whiting, a Government China watcher under Kennedy and Johnson, still advises the White House during informal meetings with Kissinger. Alexander Eckstein was a leader in organizing the study of Chinese economics; like most of his colleagues, he now believes that China's economy has largely recovered from the dislocations caused by the cultural revolution...
...discrepancies? Otto Eckstein, who is head of Data Resources Inc. and a member of TIME'S Board of Economists, argues that the most likely reason is that "average accounting practice may have deteriorated dramatically." He believes it is quite possible "that all the profit 'increases' between 1966 and 1969 were due to loose accounting, not to any improvement in real earnings. The stock market rose by over 30% during that period and then lost all its gain during the decline of 1969-70. Had earnings been as flat as they are now reported to have been...
...OTTO ECKSTEIN, Harvard professor and former member of the Council of Economic Advisers. DAVID GROVE, vice president and chief economist...