Word: economists
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Dates: during 1970-1979
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...Economist John Kenneth Galbraith suggests that the defense industry, which includes many aerospace contractors, should be nationalized. He argues that "we recognize the reality of things, which is that the large, specialized defense contractors are really public firms." Under his plan the Government would buy out shareholders in any firm that reached a certain level of dependence on Government business by exchanging U.S. bonds for their securities. There is logic of sorts in Galbraith's idea: it would allow the nation to keep skilled teams intact by guaranteeing them steady employment, even in slack times...
Louis O. Kelso, a corporation attorney and economist, will speak on changing economic conditions potentially favorable to poor people at 1:30 p.m. today in Lowell Lecture Hall...
...Company treasurers are eager to stretch out the maturity of their debts so that they will not risk financial trouble if there is another sudden cash squeeze like the one that followed last year's Penn Central bankruptcy. "Too many corporations had close calls," explains Salomon Bros. Economist Henry Kaufman. "They want more flexibility...
...consequence of the rush into bonds is that rates on long-term corporate issues have rebounded from a January low of 6.8% to about 7½%. The extra cost deters few companies. "They borrow when they need it, and not because the rates are down," says Economist Tilford Gaines, of New York's Manufacturers Hanover Trust Bank...
...suggested that the Government may have to do that, as well as reinstate the 7% investment tax credit for business. Last week Senator Edmund Muskie, front runner for the Democratic presidential nomination, said that "we must accelerate some of the personal tax savings now scheduled for 1972 and 1973." Economist Alan Greenspan, a onetime Nixon adviser, figures that the odds are 2 to 1 in favor of the Administration's doing that. Estimated annual savings to taxpayers: $4.5 billion...