Word: economists
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Dates: during 1960-1969
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...your comment that "economists collectively have far more influence than Keynes & Co. could ever have dreamed of [June 26]," Lord Keynes stated in 1935: "The ideas of economists and political philosophers are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back. I am sure that the power of vested interests is vastly...
...Bergman's tortured film canon, topped by The Silence, has built a worldwide movie cult unequaled by any Scandinavian since Garbo's girlhood. Half a dozen Swedish singers, from Kerstin Thorborg to Birgit Nilsson, commute between Stockholm's Royal Opera and Manhattan's Metropolitan. Swedish Economist Gunnar Myrdal, author of a classic study of the U.S. Negro and his problems, who went on to become executive sec retary of the U.N.'s Economic Commission for Europe, is currently writing what promises to be the definitive work on solutions for the underdeveloped world...
Communists & Capitalists. Even the Communists are grudgingly coming around to recognizing the professional economists for the first time. The most influential one by far is Poland's Oskar Lange, who lived in the U.S. during the 1930s and 1940s, took U.S. citizenship but renounced it after the war, and is now a deputy chairman of the Polish Council of State. In a mildly heretical mood, Lange declared last month: "Marxist political economics originated as a criticism of capitalism. It was not concerned with details of running an economy." While many of the Western economists call for increased planning, Lange...
...Italy, Economist Guido Carli, governor of the central bank, has prescribed strong medicine for the country's debilitating inflation. With the patchwork government of Premier Aldo Moro too weak to take effective action, Carli on his own tightened credit and restricted borrowing from abroad. A convincing negotiator, he was called upon by Moro to persuade socialists and labor leaders to temper their own wage demands and agree to reduced government spending. One result of Carli's influence: Italy's trade balance is improving for the first time in two years...
...Yesterday's economists were often wrong," says Alexander Cairncross, the prime economic adviser to the British government, "but there was seldom enough statistical material to prove them so at once." Statistics that once took months to compile are now served up in days, or sometimes minutes, by computers. Economists still stand in awe of the modern maestro, Britain's late John Maynard Keynes, whose doctrines of central planning and high public spending made him the darling of the New Deal. Some statesmen have declared that the modern world needs a new Keynes. Though no single economist today commands...