Word: economisters
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Dates: during 1950-1959
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...Economist Sumner Slichter wrote that "in the opinion of many persons" millions (perhaps 8,000,000) would find no jobs in an economy which, like the service veterans, had to reconvert to peacetime production. Afraid that federal subsidies would lure idle vets to campus, the University of Chicago's Robert M. Hutchins warned that vets would breed "educational hobo jungles." Sociologist Willard Waller, recalling that World War I Veterans Hitler and Mussolini first recruited veterans, wrote ominously: "Veterans have written many a bloody page of history, and those pages have stood forever as a record of their days...
TIME'S first bull in June 1948 was a shaky, knobbly-kneed calf, not quite sure where he was going. The market stood at only 191.05 on the Dow-Jones industrial average, and many an economist-along with Russia's Kremlin-loudly predicted that the U.S. faced an "inevitable" postwar depression. The bull did go off his feed a bit in 1949, but it was only a mild case of colic. He kept growing and growing, appeared on the cover again in June 1950, as U.S. business kept on expanding to meet the needs of an exploding population...
Incentives of Cost. Having made many concessions to a sullen peasantry to get work out of them, the Soviet boss now finds them living too high on the hog-a trend that is even more marked in Communist Poland, where, one economist says, "the cities are working for the peasants...
...week, running the college with casual, kindly autocracy, waving to undergraduates as he stomped about the campus, Carleton's President Laurence McKinley Gould went about the business of finding the money. His method: to bedevil the rich with reports of the U.S.'s conspicuous complacency-much as Economist Thorstein Veblen (Carleton '80) once hounded them with charges of "conspicuous consumption." A scholar who would be concerned about U.S. educational standards if Russia were inhabited solely by musk oxen, Gould does not hesitate to point with alarm at the Red satellites long after the furor has ceased...
...public conveniences of all kinds, it takes more and more workers to tend them. At the turn of the century manufacturing employed nearly 50% of all nonfarm workers. Today, the proportion is only 30%, and employment in the service industries is far more stable than in manufacturing. Says Economist Gabriel Hauge, onetime adviser to President Eisenhower and now chairman of Manufacturers Trust Co.'s finance committee: "The shift from manufacturing to services is comparable to the shift in the American economy in the 19th century from agriculture to manufacturing...