Word: economices
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Dates: during 1960-1969
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The economic giant will continue its incredible growth. By 1975, says the Bank of California's economic consultant, Alden Fensel, California's gross state product will reach $150 billion, and business spending $18 billion (from the present $13.3 billion). By the same year, California's population will have risen to...
Paul McCracken, chief of the President's Council of Economic Advisers, expects many strikes ahead, but is not too worried about their long-run effect on the economy. Indeed, some Administration policymakers profess a rather Olympian unconcern over the impact of strikes. Partly for that reason, the Administration is...
The trouble with General Electric as the testing ground for the President's hands-off policy is that the strike is as much ideological as economic. The enemy is what the unions call "Boulwarism," a labor-relations strategy unveiled in 1948 by Lemuel R. Boulware, then a G.E. vice...
Clever Compromises. Nixon hardly knew Shultz when he appointed him Secretary of Labor. The President was impressed by a pre-election task-force report on manpower that Shultz had written and by the enthusiastic recommendations of his closest economic advisers, Arthur Burns and Paul McCracken. Mild-mannered and professorial, the...
Practitioners of econometrics use countless statistics to build complex mathematical models (see cut). The statistics are weighted according to the economists' own idea of their importance, and the result is intended to serve as a picture of the real world. The models vary, but they usually contain data about...