Word: economists
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Dates: during 1970-1979
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Ford paid relatively less attention to his Council on Wage and Price Stability, which will monitor increases in those crucial areas. The council has no enforcement powers, but Ford did appoint as executive director a strong advocate of Washington jawboning. He is Albert E. Rees, a Princeton economist and a Democrat. Rees shares Ford's adamant stand against imposing mandatory wage and price controls...
...labor-management dispute. Many are skeptical whether Wilson's policy of persuasion alone could restrain wages if subjected to a series of important contract talks-such as the traditional autumn-round. Any attempt to put teeth into the social contract, however, would almost certainly split the Labor Party. Economist Peter Jay warns that an incomes policy "can be trapped like a billiard ball between its commitment to full employment, to stable prices and to collective bargaining. At that point, governments that depend on satisfying those three points cease to be possible...
...will it be easy to find work elsewhere. France and Germany have been tightening up on immigration from countries outside the Common Market. The government is giving top priority to finding jobs for returning soldiers, but, says one economist, "after the first few weeks of euphoria, the soldiers who returned home as heroes will start looking for jobs and finding there aren...
...month or so with her and her husband of 45 years, Artist Frank O'Connor. On these occasions, Greenspan adds, conversation is just "what old friends talk about." Suspending a policy of shunning press interviews, Rand told TIME'S Sarah Button: "I am a philosopher, not an economist. Alan doesn't seek my advice on these matters. He can tell me more than I can tell him, and knows more about the day-to-day events...
...resort to wage-price controls, despite his public disclaimers, and they sharply criticized the Federal Reserve's money policy. The bitterest attack was delivered in a separate forum by AFL-CIO President George Meany. In a speech in Kansas City, Mo., he declared that any Soviet economist who had as bad a record as Federal Reserve Chairman Arthur Burns would be "promoted" to Siberia...