Word: economists
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Dates: during 1970-1979
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Sometimes ITT's operatives are too smooth for their own good. Recently Yale Brozen, a University of Chicago economist, assailed the Federal Trade Commission in a speech, likening the agency's crackdown on deceptive or puff advertising claims to "star-chamber proceedings" and "Salem witch hunts." The speech got wide publicity. One fact not mentioned in the stories was that Brozen is a paid consultant to Harshe-Rotman & Druck, a public relations firm, which arranged for him to speak in various luncheon clubs. The firm is employed by ITT Continental Baking Co., which has been warned...
Weak Evidence. Even the evidence used by Administration officials to back Nixon up was contradictory. HEW Secretary Elliot Richardson cited a report that low-income children read better after going through special programs in 42 California schools. But the study's author, Indiana University Economist Herbert Kiesling, retorts that only disadvantaged children in schools with middle-class student majorities did well on a standard test, and that "if it's an argument for anything, it's an argument for busing." Nixon himself emphasized only one study: a report that 94% of 10,000 California children in special...
...controls while the President was still voicing an almost theological opposition to them. When the President turned around and embraced controls, Meany held out for a tripartite Pay Board with labor representation-and got it. Meany has not attended a board meeting since November, but he has sent his economist Nat Goldfinger, who for quite a while did all he could to block proceedings and sow dissension...
...Economist W.S. Jevons astounded the British Association for the Advancement of Science in 1878 by postulating that ups and downs in the economy were caused by sunspot cycles, which he said governed agricultural cycles. Economic science has advanced notably since then, and forecasters now focus on more down-to-earth indicators-like housing starts, manufacturers' new orders and retail sales (which according to the most recent weekly report ran 11% ahead of a year ago). Yet countless Americans have their personal systems for handicapping the economy. Their idiosyncratic indicators are sometimes as reliable as the official measures...
...debates foreign-trade policy, protectionist lobbyists are always on hand to reel off doleful statistics of plants closed and jobs lost because of competition from imports. At last free traders are acquiring some figures to throw back. In a study to be published shortly by the American Importers Association, Economist C. Fred Bergsten, a former aide to Henry Kissinger, adds up the bill that the U.S. consumer is paying for protectionism. His estimate: tariffs, quotas and other devices raise American living costs by $10 billion to $15 billion a year...