Word: economists
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Dates: during 1960-1969
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...President's plan to reform the tax mechanism, set forth in the budget message as a panacea-of-sorts, was described by Leon Keyserling as "a pigmy sent out to do a giant's job." The economist explained to the Joint Economic Committee that the Kennedy tax program assumes that awarding rebates to those in the upper-brackets will provide the financial and psychological impetus to reinvest. But the program rests on a hope, and the hope itself entails certain assumptions about the risk-taking mentality of the prevailing industrial leadership...
...against the possibility of a strike when labor contracts reopen after April 30. Government steel analysts feel that this fall steel should be able to avoid another tumble like last year's, and hope to see steel production rise 3% to about 101 million tons in 1963. Other economists are not so sure. Says George Cloos, senior economist of the Chicago Federal Reserve Bank: "Strike or no, there will be a drop in steel production in the coming months...
From these encouraging figures, many economists concluded that the prospects of a recession this year have just about vanished. Said one senior Government economist: "The results of this survey should send the pessimists running for cover." On the other hand, no one thought that the new figures were good enough to spell a real economic upsurge, and that view was supported by the Federal Reserve Board's report that industrial production remained unchanged in February. Capital spending still amounts to only 6.8% of this year's projected $578 billion gross national product...
...difficult time, draw out 25% more than it put in. The advantage, of course, is that poorer nations can deposit their own soft currency, draw out hard currency in loans. Every year the IMF conducts on-site inspections of each member nation, dispatching teams of two to five expert economists to pry into budgets, money supplies and payments balances. The inspectors then pass on their reports to IMF's 18-man international board, headed by Sweden's Per Jacobsson, 69, an economist of the classical monetarist school...
...Economist Michael Young predicts that by the end of the century, automation and technology will have shunted so much unskilled labor into the domestic market that a new Age of the Servant may dawn. But all signs still indicate that "help" is more likely to be electronic than organic...