Word: economists
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Dates: during 1970-1979
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...went to work in 1964 as Kissinger's researcher on a Rockefeller task force and, fascinated by foreign affairs, stayed on with the Rockefeller Brothers Fund after Henry was summoned to Washington, and now holds his old job. Her regular reading includes the Times of London and the Economist, and she has been known to take Henry to task about the U.S.'s Viet Nam policy while the bombings were going...
...nine years, has directed France's fortunes with a finesse that, despite the current troubles, has not only endeared him to the patronat-the French business establishment-but at the same time won him the respect of the man in the bistro. An urbane and brilliant economist, he is the only presidential contender who currently holds national office. That helps Giscard by giving him regular public exposure, but it also thrusts him into the firing line on problems such as unemployment (only 1.9% last year but increasing) and inflation (currently about 13% a year). As a result...
...worrisome enough. In the twelve months ended in February, prices in the U.S. climbed 10%, and in that month they were sprinting up at a compounded annual rate of more than 16%. Inflation in the U.S. now outpaces the rates in 18 other countries, a development that Economist Otto Eckstein calls "a major historical event." The sweep and intensity of the price rises are reducing living standards in the U.S. just as surely as a recession does. In February, though wage hikes had pushed dollar income to a record high, the average American worker's spendable income bought 4.5% fewer...
...another major inflationary effect of affluence is a matter of sheer numbers: the growing pressure of world demand on the resource base of raw materials. Observes Canadian Economist Carl Beigie, "What is happening is that the fondue pot of the world is being attacked by more people with bigger sticks...
World Bank Economist Irving Friedman traces the problem to the widespread unemployment, bleak breadlines and political upheavals of the Depression, which was ended only by a cataclysmic world war. That experience has haunted the economic memory of the world ever since, he believes, and caused governments in effect to enter into a new social contract with their citizens under which they pledged never willingly to risk such suffering again. In the U.S. and Canada the contract has been enshrined in laws that require Washington and Ottawa to work always for the highest possible employment. In other nations the commitment...