Word: economists
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Dates: during 1970-1979
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...advantages and the drawbacks are clear. One economist high in the Nixon Administration concedes cautiously: "Assuming that everything can be funded and it is not inflationary -and those are big ifs-McGovern would equal full employment. But he would probably mean lower productivity and slower growth." Is this the kind of economy and society that the people want? Voters cannot judge intelligently until they know more about the real cost -and who would pay exactly how much. McGovern must be both more candid and more precise on those passion-rousing issues, which concern not only the pocketbook but also...
Unemployment remains a problem. It has been hovering around 5.9% for the past 18 months, and Board members do not anticipate much improvement. Brookings Economist Arthur Okun predicted that the rate would not dip to 5% until August 1973. Employers are cautious about rehiring, figuring that they will be able to draw from the large pool of jobless talent for a long time to come...
...recovery is proceeding, but there is no evidence that it is getting out of hand." Even so, the Administration's policymakers are talking increasingly about the possibility of having to take steps to keep business from overheating and inflation from reigniting. Herbert Stein, the President's chief economist, warned last week that Government spending cuts may be needed in the fall to keep the 1973 fiscal-year budget deficit from exceeding the $27 billion already projected...
Pusey, who retired last June 30, was joined by five other men and two women who received honorary degrees. Two recipients--MIT economist Paul A. Samuelson and Elma Lewis, the director of the National Committee of Afro-American Artists--are from the Boston area...
Paul Anthony Samuelson, the Nobel Prize winning MIT economist, received the third Doctor of Laws. A member of the Rand Corporation and a consultant to the Federal Reserve Board, he was a consultant to the National Resources Planning Board during World War II and a member of the War Production Board in 1945. Age 57, he holds an A.B. from Chicago University and a Ph.D. from Harvard...