Word: economist
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Dates: during 1950-1959
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...premium put on inefficiency of operation. The more payroll a company had, the more profit it would make on the cost-plus arrangement. And when the war ended, there was tremendous pent-up demand for what Detroit could produce, and wartime business became even bigger." A University of Michigan economist recently warned that even after the U.S. recession is past Detroit will still have a serious hard core of unemployment to worry about. Basic reason why Detroit is in trouble, apart from the current auto sag: the auto companies have been gradually moving out of Detroit for more than...
...move back the expected upturn by as much as a month. Now the Administration needed still more time to examine the economy before moving toward an antirecession tax cut or an all-out public-works program. On March 21, the day Washington had so anxiously awaited, a top Administration economist gazed out a window at the heavy snow. "Give me April," he muttered. "I'd like to borrow April...
...Democratic Farm Cabinet-in-exile: Harry Truman's Agriculture Secretary Charles Brannan is the N.F.U.'s general counsel; Wesley McCune, onetime Democratic National Committee farm specialist, is the public-relations director; Leon Keyserling, chairman of President Truman's Council of Economic Advisers, is a consulting economist for the N.F.U...
...forces behind U.S. auto sales. Americans have found many other sources of prestige and enjoyment, e.g., homes, boats, foreign travel, family vacations, summer houses in the country, etc. To the evidence that conspicuous consumption-as typified by the bigger auto-is waning in the U.S., Harvard Economist Sumner Slichter adds his voice: "Having stocked themselves up for the past ten years with cars, people have been shifting their expenditures to other things...
...February, and are still climbing in March, with some dealers reporting business 100% better than last month. These increases encouraged dealers to hope that the bad winter weather was as responsible for poor sales as all the complaints about Detroit's 1958 cars. One all-inclusive gripe, from Economist Slichter, who drives a 1951 Ford and recently refused to buy a 1958 model: "They are inconveniently long, inconveniently wide, inconveniently low, wasteful of gas, expensive to maintain, clumsy and ugly...