Word: economists
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Dates: during 1970-1979
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Both programs would contribute to inflation. The Administration claims that Ford's program would amount to a one-time 2% increase in prices. But the Democrats and many economists believe that his plan would create a ripple effect that would go on for years, adding more than 2%. In contrast, Harvard Economist Otto Eckstein, a member of TIME'S Board of Economists, estimates that the Ullman plan would add only .6% to prices by the end of 1976 and 2.1% by 1980. Still, for all of their differences on energy, there is enough common ground to allow Ford...
...Economist Murray Weidenbaum, a Republican, urges Congress to cut taxes quickly in order to stimulate demand and employment. "The Ways and Means proposal for a $100 to $200 rebate is peanuts," he says. "It's not enough to enable anybody to put a down payment on a big-ticket item. There was nothing wrong with Ford's idea for rebates of up to $1,000." Weidenbaum also recommends that the Government speed the flow of federal contracts: "Order today what is supposed to be ordered next month." Like Bunting, he is afraid that if Congress waits too long...
...economy is so soft that even big tax cuts and easier money would not add much to inflation. After extensive computerized studies, Economist David Grove, vice president of IBM, concludes that an immediate tax cut of up to $30 billion would add no more than two-tenths of a percentage point to living costs between now and the end of 1976. Economist Otto Eckstein, head of Data Resources, Inc., calculates that a tax cut of that size would raise the cost of living through the end of next year by seven-tenths of one percent...
Holmes maintained a wide range of correspondents, both American and foreign. He exchanged letters with such luminaries as the British economist Harold J. Laski and the brothers William and Henry James. An excerpt from hi travel diary dated May 26, 1866 reads: "...Then with them [Henry Adams and his family] to Gladstones...had quite a long talk with the Panjandrum G[ladstone] himself--whereat people stared. G in consideration of my wounds made me sit and I was a great...
...this is to arrange small White House lunches and dinners during which Ford and his top aides can drink in the views of eminent intellectuals (TIME, Dec. 23). At the third such session last Saturday, Ford conferred informally with four people of diverse interests: Thomas Sowell, a black U.C.L.A. economist, author of a forthcoming book on race and economics; Gertrude Himmelfarb, professor of history at the City University of New York; Edward Banfield, a specialist in urban affairs who teaches at the University of Pennsylvania and wrote the iconoclastic The Unheavenly City; and Herbert Storing, a University of Chicago political...