Word: economists
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Dates: during 1970-1979
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...feel permanently shut out of the economic system, as do many of their counterparts in Europe, nor do most of them feel alienated from the work ethic. Thousands of New York City youths stood in line overnight last month to sign up for federally funded summer jobs. As M.I.T. Economist Michael Piore puts it, "In Europe, the young get mad about unemployment. Here, they just get scared...
Died. Harry Gordon Johnson, 53, Keynesian economist and professor at the University of Chicago and the Graduate Institute of International Studies in Switzerland; after a long illness; in Geneva. An expert on international finance, Johnson frequently attacked the monetarist school of economists. He believed unemployment was a greater social problem than inflation and at times espoused both devaluation of the dollar and a guaranteed minimum income...
Died. Ludwig Erhard, 80, former Chancellor and architect of West Germany's economic miracle after World War II; of heart disease; in Bonn. A German economist without a Nazi past, Erhard was selected by U.S. Occupation officials to help restore Germany's war-ruined economy. A laissez-faire economist, he initiated currency reform, then abolished price controls and rationing. His rationale: "Turn the people and the money loose, and they will make the country strong." It worked. West Germany became Europe's most prosperous power. A strong supporter of the Common Market and European integration, Erhard succeeded...
Luis Escobar will speak on "The Borrowing and External Debt of the Developing Countries" at the Center for International Affairs from 4-6 p.m. He's a economist from the World Bank, Bob MacNamara's club which, a few years ago, cut-off credit to Allende's government in Chile. Escobar should be fairly interesting as he has done some credible research in the area...
...former University of Texas economist spoke informally to a group of college journalists in the Kennedy Building in downtown Boston...