Word: economists
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Dates: during 1960-1969
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Equally crucial is the lack of cost control. Hospital charges are now mainly the concern of third parties, such as insurance companies, that pay the patient's bill. Until now, insurance companies have met mounting costs by raising premiums-not by seeking more efficient hospitals. As Economist Victor Fuchs puts it: "Almost no one has any incentive to be interested in the efficiency of the hospital as a whole...
...likely to rise amid growing labor unrest and slightly rising unemployment, and with the nation's factories running at 84.7% of capacity, the lowest figure in three years. "The recovery is not going to be as prompt and vigorous as we thought," says a senior Federal Reserve Board economist. To the White House Council of Economic Advisers, the rebound looks "very satisfying-right on track." Taking a middling view, Treasury Under Secretary Joseph Barr said: "The economy is following our blueprint, but it is about two months behind where we thought it would...
Rarely Far-Out. Ever since 1938, when Geoffrey Crowther became editor, the Economist has attracted talented journalists and first-rate minds. It has rarely taken a far-out position that it has had to retreat from later. It has, in fact, vigorously espoused moderation and often corrected the overcensorious views of other publications. To the common taunt that the Israelis caught the Egyptian air force napping, the Economist replied that it was all but impossible to have guessed the timing of the attack. "Do not let us think that we would have done all that better than the Egyptians...
...Economist belongs to no political party or ideology. "We have nothing in common with the left wing of Labour," says Current Editor Alastair Burnet, 39, "nor with the right wing of the Conservatives." The Economist has argued against nationalization of the British steel industry and urged turning over the telephone system to private enterprise. On the other hand, says Burnet, "our social policy is in some ways more radical than that of both major parties." The magazine has consistently supported higher family allowances, liberalized sex laws, and greater unemployment compensation for men changing jobs-a move that would increase labor...
Trend to the Vernacular. Under the Economist's articles of incorporation, no one shareholder is allowed to own more than 50% of the total stock. Currently, 50% is held by S. Pearson industries Ltd., a diversified holding company (pumps, pottery, publishing), that also owns the London Financial Times. For a British publication, the Economist is heavily staffed: a total of 40 writers and editors in London. In the rest of the world, it is very lightly staffed. It has one man in Washington, one in Paris, one in Bonn, and one in Vienna who covers all of Eastern Europe...