Word: economists
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Dates: during 1970-1979
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...needn't be a brilliant economist to realize that if the ridiculous rules regulating the trucking industry are abolished [Feb. 5], shipping costs will fall, and as go shipping costs, so goes the price of goods shipped...
...first day I went to work as an economist for the Department of Agriculture, I was assigned to a nine-by-twelve cubicle, to be shared with my supervisor. Bob Barnet had a Ph.D. in economics, but was prouder of a pin he had just been awarded marking his 20 years of Government service. Barnet showed me the ropes, then leaned back and laid out his philosophy of how to succeed in the bureaucracy: please your boss, cover your ass and always, always be cautious. Patience was the greatest virtue. The way to get ahead was not to outshine everyone...
...nearly eight years. When it comes to transactions among central banks, mankind's most treasured possession is supposed to have no more relevance than the Mongolian tughrik. So much for the official view of gold's value. Out there in the real world, the metal that Economist John Maynard Keynes once Wrote off as a "barbarous relic" has never shone more brightly...
...figure, a 20th century Newton who set physics aflame and left an intellectual legacy so rich and profound that its depth is still a source of amazement and discovery. Yet Einstein, for his part, never lost sight of the humanity that new knowledge should serve. Says Einstein's executor, Economist Otto Nathan: "Even if he had never done science at all, he would have been one of the memorable figures of the century." That may be the exaggeration of a loyal friend. But as a centennial assessment, it is, relatively speaking, not entirely off the mark...
When he made that famous forecast in The American Challenge a decade ago, the French publisher and pop economist Jean-Jacques Servan-Schreiber voiced a familiar European fear: that U.S. industry, armed with a strong dollar and high technological and marketing prowess, was rapidly turning Western Europe into a sort of American commercial romper room. So much for that worry. What now seems to rouse European passions is not the threat of a Yankee invasion but the prospect of a disruptive retreat...