Word: economists
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Dates: during 1960-1969
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...cures. Most of the witnesses agreed that mortgages have become the chronic invalid of finance because of structural flaws in the mortgage market. "Under present regulations of the Federal Home Loan Bank Board, the growth in savings and loan associations that supported home-mortgage financing is past," warned Washington Economist Robinson Newcomb. According to Newcomb, the "future looks dark" unless there are "changes in the rules of the game...
...really runs the U.S. economy? Not the same kind of people who did a few years ago, says that fashionably sardonic Harvard economist, John Kenneth Galbraith...
This is not all bad to Galbraith, who has the economist's frequent bias in favor of planning and government involvement, and who would like to see more of both applied to such challenges as urban blight and health care. He is also greatly alarmed that the U.S. and other industrial societies are falling into a "comfortable servitude" by overemphasizing the quantity of production at the expense of the quality of life...
...other institution, the B.I.S. helps knit such personal ties. In addition to the work sessions last week, there were teas, cocktail parties, receptions and dinners for delegates and their wives-and the traditional gourmet stag lunch at Basel's venerable Schützenhaus restaurant. "The B.I.S.," says Economist Robert Triffin, Yale's famed international monetary expert, "is partly a country club and partly a church-to maintain the dogma of central-bank independence from governments...
...bank's annual report, largely written by U.S. Economist Milton Gilbert, not only commands enormous respect among moneymen but often talks like a Dutch uncle to errant governments. Last week, for example, it skewered the U.S. and West Germany for forcing central banks to do the dirty work in restraining inflationary 1966 economies. Rapping Washington for "the indecisive way" in which it dealt last year with the question of raising taxes, the report said: "There is nothing wrong with the 'new economics.' The trouble was the failure to act promptly and effectively...