Word: economists
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Dates: during 1950-1959
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...such circumstances, the election was a bitter joke. Of the three leading candidates for President, Dr. Ramon Grau San Martin, 71, two-time former President (1933-34, 1944-48), had no chance at all. The only chance for Carlos Marquez Sterling, 59, lawyer and economist, lay in the unlikely possibility that Batista might want a graceful exit from an uncomfortable situation. The favorite was Batista's man, Andres Rivero Aguero, 53, a longtime henchman hand-picked to succeed the dictator. At Batista's side since 1933, Rivero Aguero was one of his lieutenants in the 1952 coup...
...prize honors John Henry Williams, Nathaniel Ropes Professor of Political Economy. It was established by colleagues of the noted economist on the New York Federal Reserve Bank, and others of his associates. Williams served as Adviser to the Bank for nearly 25 years...
...public has become obsessed with the fear of inflation." Thus last week spoke Dr. William C. Freund, economist for the Prudential Insurance Co. of America, in taking an unfrightened look at the bogeyman that haunts the U.S. economic revival. The worry that inflation is ready to start shooting prices up again is nowhere more evident than in the stock market, which last week reached a new high (see State of Business). But is the new inflation psychology justified by the economic facts? Answers Dr. Freund: "The stock market reflects a too acute awareness of the long-term aspects of inflation...
...While economists agree that the fear of inflation is outdistancing reality, they manfully take part of the blame themselves. Says a top Government economist: "Some of us may have warned a bit too well. You can't flaunt a specter as vigorously as this one has been flaunted without scaring some people. I'm afraid a lot of our problem of inflationary psychology has been of the Government's own making." Even the Federal Reserve Bank, which waved the warning flag hardest, is having some second thoughts. Says a Fed spokesman: "As you look at the economy...
Could a splurge in car buying put strong pressure on raw material prices? Says Norman B. Ture, staff economist of the Joint Economic Committee: "I don't see it. Say autos go up to 6,000,000. That won't be enough to exert real pressure on steel, aluminum, glass or rubber capacity. So a good strong demand in autos will not spread great demand pressures through the economy." And just as there are ample materials, so is there still an ample labor supply to keep a brake on wages...