Word: economists
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Dates: during 1960-1969
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...from the Yarmuk River and tapping long-unused Roman cisterns to make 75,000 acres of desert bloom. One project had unexpected results: 5,000 hungry camels found the new grass so tasty that the army had to be used to rout them out. "With any luck," says one economist, "Jordan will become a selfsupporting, viable nation." Fingers crossed, U.S. observers figure another decade should...
...would give most economists the willies, but it fascinates Fritz Mach-lup (pronounced mock-loop), holder of Princeton's Walker professorship of economics and international finance. A onetime Austrian businessman (in cardboard). Economist Machlup, 60, came to the U.S. in 1933, taught for years at Johns Hopkins, and is now president of the American Association of University Professors...
...could even be that economic forecasting has reached the point where its validity is so generally accepted that businessmen move to cancel out the economists' predictions before anyone has a chance to see whether they will turn out right. "In this sense," says New York Economist Martin Gainsbrugh dryly, "forecasts are at times self-defeating...
...hasten to add that I speak purely as an individual and with no view to being critical of those who have reached another decision. I speak only as a Harvard economist, or rather, as a former Harvard economist...
...Galbraith is, by and large, in favor of increased government spending," a College economist commented last night. "Galbraith is opposed to this tax cut because any lessening of government income at this time would make Congress more reluctant to spend on welfare and foreign aid programs...