Word: economists
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Dates: during 1970-1979
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...months as chairman of the Fed, Bill Miller, 54, has been something of a maverick. He speaks freely to the press, signs most of his business letters Bill, and takes off his jacket on occasion at congressional hearings. A businessman and lawyer rather than an economist by training, he has been remarkably accurate in his economic forecasting. Known from the beginning as a determined inflation fighter, he has taken the position that the Fed should be dedicated to a long-term plan for reducing the inflation rate over the next five to seven years and should not react nervously...
...Jimmy Carter's frenzied efforts to revive his personal standing with voters before the next presidential election look more like a narcissistic charade than a national crusade. Mr. Carter's subliminal question to America remains the same: 'How do I look now, folks?' " The weekly Economist of London, perhaps the staunchest supporter of the U.S. in the European press, bemoaned Carter's "amateurism" and warned that the President could not solve the country's problems "unless there is some understanding of how the world works and some readiness to eschew symbolism and appearances...
Only 30 months ago, the Carter economic team started work in an atmosphere of high hopes. Rarely had an Administration mobilized such formidable economic firepower, filling the Cabinet with five Ph.D. economists: Blumenthal, Commerce Secretary Juanita Kreps, Labor Secretary Ray Marshall, Energy Secretary James Schlesinger and Chief Economist Charles Schultze. In addition, a number of Carter's appointees possessed impressive managerial credentials. Blumenthal had headed the Bendix Corp., one of the nation's best-run firms, while Bert Lance, Carter's first Budget Director, was a highly successful banker...
Most of these developments eventually would have occurred even if Carter had not introduced his new energy package. But his complex and costly program, provided it is ever enacted by Congress, will accelerate the trends by stimulating investment and spurring technological breakthroughs. Says Economist Arthur Okun: "If there is an Edwin [Polaroid] Land or a Hewlett or a Packard in the country with a bright idea for energy production, a big carrot is being held...
...point Biographer Lytton Strachey wrote to Economist Maynard Keynes of his "adoration" for Painter Duncan Grant, little knowing that Keynes would soon make Grant his lover. Grant later lived with Painter Vanessa Bell; when she bore their child, the happy event was cheered not only by Keynes but by Vanessa's absentee husband, Art Critic Clive Bell, and her former lover, Critic-Painter Roger...