Word: economist
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Dates: during 1950-1959
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From such figures, many economists conclude that the uproar about inflation is overdone. Says a top Administration economist: "The school that says that any degree of price increase at all is sinful and wicked per se is being dogmatic and doctrinaire. Relative stability is the proper goal, and you must have the adjective with the noun...
Today there is an increasing number of economists, notably Harvard's Sumner Slichter, who believe that inflation can be prudently kept in check by Government fiscal policy and a close watch on spending. But inflation should not be made into a hobgoblin that obscures the fact that the U.S. has already expanded enormously without serious inflation -and can do so again. Says a top congressional staff economist: "Inflation really represents one of the most inconsequential economic problems. It should be given the lowest priority, behind such important things as improving our industrial capacity and total production...
Unpopular Task. Frondizi won office with Peronista votes, and his first political instinct was to repay the favor with such spendthrift sops as massive wage rises. But Frondizi, son of an Italian immigrant roadbuilder, is a responsible lawyer and political economist, and he soon made a different choice. He swapped Peronista support for army backing and began the dangerous, unpopular job of making Argentina live within its means. First, he coolly downgraded the ineffectual, sacred-cow national oil monopoly, by inviting foreign oilmen to develop Argentina's petroleum resources. The first new well came in last week, beginning...
...Economist. In London, convicted of shoplifting, Archibald Parfitt asked the magistrate for "all possible leniency," explained: "There is an upward trend in the nation's prosperity, and I wish to share...
...with money and brains-the suave front men who operated their revolution across polished desks in Havana, New York and Caracas, gathering money from rich friends, channeling it to the international arms dealers who ran guns to Castro. Last week some of these men were coming to the surface: Economist Rufo Lopez Fresquet, a main channel for rebel money; Broker Ignacio Mendoza, who hid hot rebels in his rich Havana home; Julio Duarte, secretary of the Cuban Bar Association and a top rebel organizer; "Comandante Diego," a still-unidentified rebel who bossed Havana saboteurs...