Word: economists
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Dates: during 1970-1979
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...restrain some price increases. But some of the guesses are frightening. Senator Stevenson figures that the energy program could eventually raise living costs for the average family by $1,000 a year, or four times the $250 in direct fuel increases that the Administration estimates. A. Gary Shilling, chief economist at the Wall Street firm of White, Weld, fears that price increases forced by energy costs could total not $30 billion but $60 billion. That may be overblown, but if the increases go as high as $46 billion, they would take away all the money that consumers would get from...
...effect be? The Administration's own projections are not exactly enthusiastic. Unemployment will continue to rise but at a slower rate. One White House adviser estimates that with the Ford program, the unemployment rate by year's end would be half a point below what it would otherwise be. Economist Otto Eckstein, head of Data Resources, Inc., makes a similar forecast. He reckons that the unemployment rate next December would be a still shocking 8.1%, rather than an even worse 8.5% (it was 7.1% last month...
...circulation area would be hit (they soon were). Its sister paper, the Journal, ran a carelessly frightening headline-PRESIDENT WARNED OF IMPENDING BANK CRISIS-that caused a temporary run on a local savings and loan association. Coverage by the Constitution and the Journal has since improved. A professional economist has been hired to do a weekly column, and this month the two papers collaborated on a joint year-end review that was comprehensive and perceptive...
...When Economist John Maynard Keynes published his General Theory in the 1930s, Franklin Roosevelt and his New Dealers saw it as philosophical justification for their much-disputed strategy of pulling the nation out of the Depression through heavy Government spending and big budget deficits. The Ford Administration, which has prepared a bold energy policy built around sharply higher prices for oil and natural gas, may get a similar boost from a new study by the Paris-based Organization for Economic Cooperation and Development. The OECD, a research-oriented group whose members are 24 of the world's leading industrial...
...help some ailing airlines deal with hard times. In a recent editorial, the Wall Street Journal charged that the idea of an RFC revival was "sillier than a WIN button" because it would only increase the Government borrowing that has helped put companies in a capital squeeze. Economist Henry Kaufman, a partner of Salomon Bros., a Wall Street brokerage house, argues that federal billions could best be used to finance projects offering a long-term return to the nation: developing energy resources, farming marginal lands and increasing productivity...