Word: economist
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Dates: during 1950-1959
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...Inflation. One of the sources of confusion about Europe's current crisis of prosperity is that it is not the old-fashioned kind of inflation. There are two kinds of inflation, says Oxford Economist Roy Harrod. "One kind is that due to excess of overall demand for goods and services over the power of the economy to supply them. This may be popularly worded by the expression 'too much money chasing too few goods.' We had that kind of inflation rather severely in 1954, 1955 and the first quarter of 1956. It is now over." Harrod calls...
...wrong. The leftist followers of Aneurin Bevan suspect Gaitskell of trying to make Labor "not a Socialist Party at all but a mere ginger group for making capitalism work more efficiently and humanely." Last week, after much labor, the party brought forth a manifesto on the subject, which the Economist promptly dubbed "Mouse with a Leer...
...Economist Gaitskell's program is "deliberately designed to have the minimum of eventual real effect, while instilling the maximum of interim uncertainty in every boardroom in the country...
...India have adopted vast development programs that are based more on artificial paper goals than economic realities. But underdeveloped lands lack the basic industry to create new capital, as well as the savings institutions to channel what money there is into industry. The average Middle Easterner, says one Arab economist, "hides whatever money he acquires in a pillowcase-if he owns one." Nor is it easy to get capital abroad, since Western nations have more use for their capital at home than ever before...
...many visiting American professors who have taught in Europe, few have had a more distinguished group of students than Economist Wayne M.c-Naughton of U.C.L.A. Attending his course on all-round American-style executivemanship at Madrid's School of Industrial Organization were some of Spain's most prominent businessmen and politicians, e.g., Lawyer Buenaventura Fernandez Crehuet, member of the Cortes, and Dr. Francisco Javier Fernandez Avila, brother of the director of the government's Industrial Productivity Commission. Though he had to work through an interpreter, McNaughton thought he was getting along just fine-until one day he decided...