Word: economists
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Dates: during 1970-1979
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Succumbing to the Ten Best syndrome, Feminist Gloria Steinem totted up her list of liberated men for Today's Health magazine. Her choices: the late Senator Robert Kennedy (he listened to women), Economist John Kenneth Galbraith (he changed his mind about women), Crusader Ralph Nader (he is interested in issues regardless of their progenitors' gender), Congresswoman Bella's husband Martin Abzug (he is supportive), Athlete Rafer Johnson (he is gentle). There were also the farm workers' Cesar Chavez (for his belief in nonviolence), Swedish Prime Minister Olof Palme (he said if there is hope for peace...
...Indian subcontinent, residents of the Himalayan foothills have been chopping down trees at a prodigious rate to get more cropland for the growing population. The deforestation was particularly apparent to Economist Lester R. Brown, an agricultural specialist with the Overseas Development Council in Washington, who has worked periodically in India for 20 years...
...Economist Robert L. Heilbroner '40 told 250 people at MIT yesterday that population growth and resource depletion in the long-term future will pose a "real threat to the present way of life on which social and political institutions have been based...
Echoing this view, Economist Milton Friedman, a leading conservative, said that there is a "good chance" of a recession next year. Consumer prices, Friedman contended, would probably continue to climb 6% or 7%, only slightly less than the thoroughly oppressive level of 8% estimated for this year. The Government announced last week that living costs rose at an annual rate of 3.6% in September, a steep drop from the explosive 22.8% increase in August. Even so, Assistant Secretary of Commerce Sidney Jones declared that inflation is "still awful...
Though such direct involvement in public issues is unusual for an academic economist, it flows quite naturally from Leontief's most important achievement: the development of "input-output" analysis. Leontiefs big contribution was devising the formulas through which economists can determine with great precision how changes in one sector of the economy (inputs) will affect the performance of other sectors (outputs). Building on his pioneering work, Government economists now compile a huge statistical grid showing how much each economic sector buys and sells from every other major sector. Using the chart, they can, for example, calculate how much...