Word: economists
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Dates: during 1960-1969
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...resources or the sophistication to invest in property or paper with a rising value to offset price increases. Clearly, one of Richard Nixon's first priorities must be to slow the inflation without starting a recession, whose first victims would also be Amer ica's poor. Economist Arthur Burns, one of Nixon's most influential advisers, warns: "If inflation continues, an economic bust may become unavoidable...
...While economists tend to favor the negative-income-tax principle, sociologists, most notably Daniel Patrick Moynihan, tend to prefer another kind of income supplement: family or children's allowances. Under this scheme, every family in the country, rich or poor, would receive a certain amount of money for each child. The affluent would return it with their income taxes, but those who really need it would keep it for basic needs. The main beneficiaries would be the children. No fewer than 62 nations, including Canada and all the countries of Europe, already give family allowances. The family allowance, unlike...
Support for protectionism naturally rises in a nation undergoing balance of payments problems. Economist Arthur Burns, a Nixon adviser, last week emphasized that one of the new President's primary tasks will be to "check the serious deterioration in foreign trade." One way would be to block some of the $32.6 billion in imports now flowing into the U.S. That would also reverse a 35-year trend to liberalized trade -at a time the world is trading more than ever. Ultimately, the U.S. can ease its travail in trade only by increasing its productivity at home and pressing...
McCracken has had a number of previous tours of duty in Government. Iowa-born and Harvard-educated, the 52-year-old economist worked for the Commerce Department and later for the Minneapolis Federal Reserve Bank before joining Michigan's faculty in 1948. Nixon became acquainted with McCracken when he was a member of the three-man Council of Economic Advisers under President Eisenhower from 1956 to 1959. After he returned to Michigan, McCracken befriended a number of educators, auto company executives and newspaper publishers, some of whom dine with him every month in an informal club, relish his summations...
AUTOMOBILES are costly to buy and to maintain. Although motor-happy Americans are buying more and more of them (see following story), they have reason to cringe when it comes to repairing aged or ailing cars. As Economist William N. Leonard, a professor at Long Island's Hofstra University, told a Senate Judiciary Subcommittee last week: "No matter where you go for auto repairs, you run the risk of a fleecing. The automobile-service business has become a jungle for the consumer...