Word: economists
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Dates: during 1960-1969
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Wilson's two most influential and eminent economic advisers would have no official role in his government. Nicholas Kaldor, 55, and Thomas Balogh, 57, are both Hungarian-born and are known as "those evil Hungarians," nicknamed respectively "Buda" and "Pest." Balogh, a mercurial left-wing Oxford economist, near neighbor of Wilson in suburban Hampstead, has long been the dominant influence in his economic thinking. As a quid pro quo for restrictions on wage raises, Buda and Pest have convinced Wilson that he needs control over corporate profits and dividends and a tax on capital. Officially, Labor intends only...
...particularly surprised-except that it had lasted this long. After three years of marriage and two sons, Remington Typewriter Heiress Gamble Benedict, 22, filed for divorce in Zurich from the man she had insisted on eloping with: fortune-hunting onetime chauffeur and self-styled economist Andrei Porumbeanu, 38. Grounds: misconduct, as yet unexplained...
...trained economist had a month-long look at Red China (TIME cover, Sept. 13) and emerged last week with some pertinent conclusions. The man was Raymond Scheyven, 52, Belgium's former Economic Affairs Minister and currently a member of the Belgian Parliament. Scheyven visited Canton, Peking and Shanghai, and a number of industrial centers in northeastern and central China. He was told that cloth rationing would continue for at least five years. Scheyven added that optimists gave China 20 years to catch up with the industrial nations of the West, and pessimists 40 to 50 years. Said Scheyven...
...Separation. As for the Profumo case, though an official inquiry into its security aspects is nearly complete, the government has given little assurance that it will lessen what the Economist recently called "the already cumbrous weight of suspicion that there is something nasty in the woodshed." Last week the Labor Party's "shadow" Foreign Secretary, Patrick Gordon Walker, called for a royal commission to investigate the roles played throughout by the government, judiciary and police...
Some firms regard their reputation for providing a sustained yield as so valuable that they dig deep into their reserves when earnings are too low to cover the outlay. This is all right, says Harvard Business School Economist John Lintner, "when the earnings decline is pretty surely temporary. Management will be very often serving stockholders best by maintaining dividend payments and protecting the price of the stock." But some industries have persisted too long in this rearguard action-and steel is one of them. While earnings dropped year after year and the industry lagged in modernization, steelmen kept rewarding stockholders...