Word: economists
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Dates: during 1950-1959
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Lawrence College's Economist Mandell Morton Bober, 65, intense, deadpan expert on Marx, general iconoclast and most quoted man on the Appleton (Wis.) campus. Sample Boberisms: "If God were half as nice to us as we are to him, we'd be living in paradise," "Businessmen have as much competition as they cannot get rid of," "Once we went to market with money in pocket and came home with goods in basket; now we go to market with money in basket and come home with goods in pocket," "If every man carried his cross, mighty few women would...
...University of Wisconsin's Edwin E. Witte, 70, onetime Wisconsin farm boy who became a leader of the institutional school of economics that concerns itself not with the "timeless, placeless laws of economics" but with practical solutions to everyday problems. Though round-faced Economist Witte regarded himself as "an old-fashioned teacher" who was never really happy away from the campus on which he had studied and taught so long, he helped draft many a progressive law for his state, wrote the Federal Social Security Act of 1934-35, campaigned constantly against colleagues who were so bent on appearing...
Yale's Economist Edgar Furniss, 67, for 20 years holder of the delicate and demanding position of provost of the university. A sort of buffer zone between the faculty and the corporation, Furniss' office in the Hall of Graduate Studies was the bright hope for any professor with a new idea, a sympathetic court of appeals for any with a problem. No major change has taken place at Yale without first getting the provost's consent, and probably no university official has been so open to new projects. Once a professor suggested that the university publish...
Even the new inflation might have been checked, said Humphrey, if the Federal Reserve Board had earlier tightened credit more drastically, thus pinched off plant expansion and full employment. But he also agreed with the growing body of economists who think that the cost of doing this might be greater than the price of bearing inflation for a while, since the new inflation is a natural result of the economy's continuing prosperity. They feel that severe cures would hurt even more than the malady itself. Says Harvard Economist Sumner Slichter, who predicts a controlled inflation...
...blame for inflation lies outside Washington. Said Ohio's Senator Frank J. Lausche: "Every citizen has a part to play in this fight against inflation." Inflation curbing, said Missouri's veteran Congressman Clarence Cannon, chairman of the powerful House Appropriations Committee, "must begin at the grass roots." Economist Edwin G. Nourse, head of the President's Council of Economic Advisers under Harry Truman, rapped "tricky gadgets" of inflation, such as cost-of-living escalator clauses in union-management wage contracts. "We should stop passing the buck to [Washington]," urged Nourse. "The real source of inflation...