Word: economists
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Dates: during 1970-1979
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...floor was filthy because it had not been swept; it had not been swept because maintenance funds were inadequate; the maintenance funds were inadequate because the huge and prestigious University of California (nine campuses, $1 billion annual budget) has for the past four years been involved in what Berkeley Economist Cheit calls a "cost-income squeeze" that is prototypical of problems facing other large U.S. educational institutions...
...toward an official close last week, delegates from many developing nations considered extending it for some days. And why not? What UNCTAD lacked in substance it more than made up for in fun and games. The partying was so intense that UNCTAD's founding father, the noted Argentine economist Raul Prebisch, noticeably avoided the meeting, and one Belgian delegate went on a hunger strike in protest. The Chilean government had laid on a cultural program of symphony and folk music, ballet and theater-but had to cancel it after one week because of low attendance...
...WITHIN the last 20 years, the government has been operating and intervening more ambitiously by directing resources. Instead of regulation, the U.S now obtains results by heaving money into different areas. This has brought with it the rise of the economist and in particular the think tank, which enables the economist to exert his knowledgeable influence. In order to dig deeper into what makes a think tank tick, Szanton proposes that three questions economists often ask be explored: (1) What is being produced? (2) How is it being produced? (3) For whom is it being produced...
...speed up payments and new orders that fast. Much of the spending that Nixon had hoped for this year will be delayed until fiscal 1973, which begins in July. As a result, the fiscal 1973 deficit is likely to be higher than Nixon's originally projected $25.5 billion. Economist Maurice Mann, formerly Nixon's assistant budget chief, predicts that 1973's deficit will "significantly exceed $30 billion." That larger deficit should help the economy accelerate after midyear, but perhaps too much so, heightening the danger of renewed inflation...
...workers' councils set wage rates and product prices in each enterprise, and theoretically have the power to fire managers, who are responsible to the councils rather than to a state ministry. Kiro Gligorov, a leader of Yugoslavia's League of Communists and the nation's chief economist, explained to TIME Correspondent Strobe Talbott: "We believe that the state cannot replace private owners in the management of enterprises. Enterprises must manage themselves." They did efficiently enough in 1970 to lift "social product"-the Yugoslav term closest to gross national product-to $14 billion, a 6.7% rise after discounting...