Word: economists
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Dates: during 1970-1979
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Advocates of bigness in business argue not that it is desirable but inevitable. Economist John Kenneth Galbraith has attacked big companies for creating demand for unnecessary products, but he also argues that only the giant corporation has the resources to engage in necessary long-range planning and to marshal the armies of specialists needed to fully exploit technology. Says Galbraith, in defense of the huge corporation: "The notion that you can get along without modern organization is strictly romantic. If you think otherwise, try taking a trip to the moon...
...critics, notably George Ball, for endangering the Ostpolitik effort, and got scolded in turn by Ball for trying to foreclose discussion of Brandt's policies. The Times became the first major paper to pinpoint an ideological split within the ranks of American conservatives when Op-Ed allowed Economist Rothbard, a onetime contributor to William Buckley's National Review, to criticize Buckley for abandoning the individualistic concept that the best government is the least government. In a subsequent solicited rebuttal, Buckley retorted that Rothbard failed to make a moral distinction between Nikita Khrushchev and Dwight Eisenhower...
Gunnar Myrdal, Sc.D., Swedish economist and social analyst. If Paul Bunyan had been a scholar, he would have been like you: ranging the globe, picking problems too big and too frightening for anyone else to tackle, and writing books that shook the world...
...capital, or toward greater flexibility, with more frequent shifts in the exchange rates of big-time currencies. Proposals are being made in both directions. Many of the discussions are as secret as sin, to prevent speculators from gaining fortunes after sniffing out future changes. As University of San Francisco Economist Frederick Breier says: "In the old days, two subjects were taboo: sex and exchange rates. The first taboo has been lifted, but the second should not be." Still, many details of the proposals have filtered out. A rundown on some of them, from most rigid to most flexible...
OTTO ECKSTEIN, Harvard professor and former member of the Council of Economic Advisers. DAVID GROVE, vice president and chief economist...