Word: economists
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Dates: during 1970-1979
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Housing starts are down. They declined by 12% from May to June to a seasonally adjusted annual rate of 2,119,000 houses and apartments. Michael Sumichrast, chief economist for the National Association of Homebuilders, offers one obvious reason: "Mortgage money has dried...
Such a shift would end a pattern of vertical integration that has prevailed in petroleum since the heyday of John D. Rockefeller. Harvard Economist Marc J. Roberts argues that the indus try is dominated by vertically integrated firms because the action against Rockefeller's Standard Oil Co. in 1911 did not go far enough. Instead of carving the empire into its functional parts-production, refining and marketing-Roberts says, "the Government split it along geographical lines, thus making every successor company vertically integrated." In fact, five of the charged firms -Exxon, Standard of Indiana, Mobil, Atlantic Richfield and Standard...
...wages in equivalent job categories, but the CEA was unable to say how much of the discrepancy was due to outright discrimination. Last week CEA Chairman Herbert Stein revealed that recent studies show women get 10% to 20% less pay simply because they are women. With that, Economist Paul Samuelson advised women to exert more pressure, and suggested to employers: "Try not discriminating-you may like...
...French would pass the Germans because of the greater productivity of French workers coupled with France's foothold in such future-oriented industries as aerospace and computers. Hudson's 5.5% yearly growth rate for France is projected as the highest of any industrialized European nation. Yet Prognos Economist Claus D. Kernig argues that France is "still so far behind in total output that it is unlikely to catch up with Germany in the next two decades...
...first time, the German government will be forced to deal with a problem that is familiar in the U.S.-special "structural" unemployment in a time of economic expansion. Explains Economist Kernig: "Germany will soon see more Germans seeking work, while more immigrant workers have jobs...