Word: economists
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Dates: during 1960-1969
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...graduate economics department, where "classical" Economist Friedrich von Hayek long worked, now offers conservative Milton Friedman (Capitalism and Freedom) as Chicago's answer to Harvard's liberal John K. Galbraith. Yet the "Chicago School" is hardly hidebound; it recently imported a British Keynesian and was a little disappointed to find him too "sensible." Conservatism also marks the first-rate law school, headed by Dean Phillip C. Neal, which has lured the American Bar Association to a nearby national headquarters. In 1958, for example, Chicago law professors did the research for a prickly resolution by the chief justices...
...estimates that by the end of 1963 the U.S. will be producing 30% more than it did five years ago, and that the gross national product will be in the neighborhood of $590 billion-an average of nearly $8,500 worth of goods and services for every working American. Economist Gainsbrugh-joined by many a businessman and economist-looks farther ahead to the time when the frustrated promise of the Soaring Sixties will be fulfilled. "I'm firmly convinced," he says, "that the economic models we built for the 19603 will still prove out, and will give...
...President Kennedy is not anti-business at all," says Rathbone. "He simply has made a few mistakes." The President's new attitude signaled to businessmen that he and his Administration have come to believe in one guiding but generally overlooked principle of the New Deal's favorite economist, John Maynard Keynes: "The engine which drives Enterprise is not Thrift but Profit...
...fecund 1946 and are coming of age to enter the labor force (only 40% will go on to college). "Already our unemployment is concentrated among the 18-and i g-year-olds, and a tidal wave of them will hit us in 1964 and 1965," says Martin Gainsbrugh, chief economist of the National Industrial Conference Board. The number of new workers entering the labor force will soar from 1,200,000 in the last year to 2,500,000 next year...
...tough in insisting on fiscal discipline, cutting off help to such nations as Turkey and Brazil when they refused to cooperate. His reputation as a conservative enabled him sometimes to espouse unorthodox measures without being accused of seeking change simply for its own sake. Jacobsson always mistrusted liberal economists, even when he found himself agreeing with them. He once said: "I'm a bit afraid of any economist who has not seen the inside of a central bank...