Word: ecksteins
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...Hans Eckstein, the coach of the Einheit Dresden eight which whipped Penn in the Henley finals last summer, had a similar analysis...
...Stretched Recession." Given this balance of forces, some economists argue most loudly not over what is likely to happen but over how happy the nation should feel about it. Many cannot cheer a prospect of slow gains in production and rising unemployment. Harvard's Otto Eckstein, another member of TIME'S Board of Economists, has coined the term "stretched recession" to describe the prospect. His point is that the gap between actual and potential output over the three-year period of 1969 through 1971 is likely to be as great as it would have been if the nation...
...Hans Eckstein, the coach of the Einheit Dresden eight which whipped Penn in the Henley finals last summer, had a similar analysis...
...meeting of TIME'S Board of Economists, Harvard's Otto Eckstein listed a number of other reasons why prices persist in rising despite the Federal Reserve's policy of money scarcity. "The rest of the world is in a very prosperous state," said he, "and demand for raw materials keeps prices rising. The present inflation is so intense that it is difficult to cure?there hasn't been a 6%-a-year inflation in modern times except for a few months after Korea. In addition, the Government is moving toward protectionism in world trade. Finally, there has been an ideological...
Even if the Administration's gradual game plan ultimately works, and the Federal Reserve feeds just enough money into the economy to avoid recession, as Burns has pledged to do, the probable results seem unattractive. Eckstein thinks that "business would reach a turning point?followed by nothing...