Word: economists
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Dates: during 1970-1979
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...regain economic momentum, says Oxford University Economist Michael Kaser, the Soviets will have to shift the planning emphasis from more factories and more workers to more efficient factories and more productivity per worker. Decentralizing the economy so that managers need not clear so many decisions with the sluggish Moscow bureaucracy will also be necessary. For the leaders of the rigid Soviet system, that kind of drastic reform will not be easy...
...that imports costlier OPEC crude gets to withdraw an equal amount from the pool. For example, a refinery that buys domestic oil for, say, $9.45 a bbl. would pay about $2.50 to the fund; a refinery that imports foreign oil for $14.55 would then collect that $2.50. Observes Oil Economist Arnold Safer: "The entitlements program, in effect, gives any company that imports OPEC oil $2.50 for absolutely nothing. The system creates a perverse incentive, just the opposite of what is really needed...
...independent Reserve Board's decision went against the advice of some top Administration advisers, including Treasury Secretary W. Michael Blumenthal, Inflation Adviser Alfred Kahn and Chief Presidential Economist Charles Schultze. Sensing that a surge of inflation is in the making, they take the position that money policy should be tightened to produce a mild slowdown. The alternative, they fear, is too fast economic growth that would lead to even worse inflation?and then a sharp recession later on. Private economists as ideologically diverse as Conservative Alan Greenspan and Liberal Arthur Okun, both members of TIME'S Board of Economists, support...
Carter asked Inflation Adviser Alfred Kahn, Chief Economist Charles Schultze and Labor Secretary Ray Marshall to meet with both sides and try to reduce the terms. Schultze publicly hinted that the Government would act against any company that signed a guidelines-busting agreement, perhaps by withdrawing federal procurement contracts. Representatives from Goodyear, Firestone, BF Goodrich and Uniroyal met with Carter's advisers, but Bommarito declined, although he said he would get together with Federal Mediator Wayne Horvitz and officials of Uniroyal this week. In any case, Bommarito warned, if the tiremakers try to settle for less than the union...
...length five leading independent oil experts. They are: Morris Adelman, 62, professor of economics at Massachusetts Institute of Technology; Walter Levy, 68, the dean of petroleum consultants and adviser to governments and oil companies; John Lichtblau, 57, head of the private Petroleum Industry Research Foundation; Arnold Safer, 42, an economist of Irving Trust Co.; John Sawhill, 42, president of New York University and former Federal Energy Administrator. Excerpts from from the interviews...