Word: economists
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Dates: during 1970-1979
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...after the steel settlement, Pierre Rinfret, a windy but influential business economist who sometimes advises Nixon, told his clients by telegram not to hesitate to raise their own prices. The steel deal, he said, "locks in inflation." More important, he advised clients to give the unions what they want, and then increase prices still more to pay the bill. Says Rinfret: "There is no point in taking the heat if the Government won't stand behind...
...when his family emigrated to America. Shultz, a schoolteacher's son, was also an early scholar; he graduated from Princeton with honors in economics, was a World War II Marine major. Both men rose in the academic world and were tapped for frequent assignments in Government. Economist Burns, 67, and Industrial Relations Expert Shultz, 50, are both close friends of Milton Friedman, the Little Giant of monetary theory. Burns was Friedman's professor at Rutgers. Shultz was his colleague at the University of Chicago, when Shultz headed the graduate school of business administration. When Burns was chairman of the President...
STANFORD has as its most prominent China scholar Mark Mancall, a widely traveled historian of Sino-Soviet relations and a dazzling teacher. Stanford's cadre also includes Political Scientist John Lewis and John Gurley, a well-thought-of older economist with Maoist sympathies. Anthropologist G. William Skinner, by poring over maps, gazetteers and economic records, correctly predicted that Mao would subdivide China's large communes into agricultural units of a more traditional size...
...opponents worried about setting a precedent. Would the Government always step in to save a huge, politically powerful company that had tumbled into trouble over a commercial project? Many Lockheed critics noted that businessmen usually decry Government intervention, but they then run to the Government when they want help. Economist Alan Greenspan, a frequent Nixon adviser, warned that if the Administration made private credit available to one privileged firm, the supply of credit that is available for all will be reduced...
...sharply earlier this year. Of the 10,000 families that were surveyed, only 7.8% reported that they plan to buy a car within the next six months v. 8.8% in a March-April study. Plans to buy refrigerators, TV sets, washing machines and air conditioners also diminished. Says Board Economist Fabian Linden: "Everybody is waiting for the consumer to spend the economy back into high gear, but the consumer appears to be waiting for the economy to turn around first...