Word: economists
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Dates: during 1920-1929
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...very soon appeared that this informal group was the inner banking circle of the committee-for with Mr. Morgan and Lord Revelstoke sit Dr. Carl Melchior, partner in Germany's great house of Warburg, Belgian Tycoon Emile Francqui, and Economist Antonio Suvitch, personal representative of Benito Mussolini...
...Mississippi Company was organized by the Scotch economist and gambler, John Law, to run the French finances and monopolize the Mississippi trade. Shares were put on the market at 500 livres and mounted in the course of the craze to 20,000, although French finances were in a bad way and there was no Mississippi trade to speak of. Men sold their all and hastened to Paris, crowding the Rue Quincampoix, the Bourse of that day. Shares even were sold for a company to exploit perpetual motion and "for a design which will hereafter be promulgated." In 1820 the whole...
Spengler is historian, mathematician, esthete, economist, political scientist, philosopher. With a curious and powerful alternation of Teutonic intellectual despotism and entranced mysticism, he analyzes history by huge analogies. Civilizations he sees as emerging & disappearing in cycles, each one, like a flower, experiencing birth, growth, decay, death. Our own Western civilization he declares to be in the phase of decay, characterized by material expansion, effete spirituality. Collapse is imminent in perhaps 300 years. But by that time another human group will be unwittingly generating a new civilization to flourish and sink in its own long turn. Herein lies the refutation...
...William Trufant Foster, Boston pedagog-economist, director of the Pollak Foundation for Economic Research, and Waddell Catchings, Manhattan manufacturer-financier (shoes, collars, cans, rubber, motors, fruit, cereals, dairy produce, drugs, magazines, cinema), collaborated lately on a book* in which they suggested that all U. S. markets would be steadied if the governmental agencies of the U. S.-federal, state, municipal-would map out and authorize large programs of public work which will be needed eventually though not immediately. Let these programs then be held in abeyance, said the collaborators, until such time as labor and fiscal indices show or predict...
Bulls called this reaction "corrective," "salutary," "reassuring." But the market's stubborn bears held it an omen of a real break to come. On the same day, Economist Virgil Jordan of the National Industrial Conference Board, spoke Spanish words at the Hotel Astor (Manhattan). He warned: "Prosperity in the present situation is rather a state of mind than a fact. ... It is an illusion created by extraordinary financial conditions, by exceptional activity in production of certain types of goods. . . ." These goods, he noted, included many luxuries, few necessities. He cited depression in industries producing food, clothing, coal, transportation...