Word: economists
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Dates: during 1970-1979
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...professor emeritus from Harvard has the most difficult job. Economics is hard on the head and soft on visuals. Portraits of Thomas Malthus, David Ricardo, Karl Marx and John Maynard Keynes are simply not as rousing as thermonuclear explosions or The Naked Maja. But the obscure theories that economists set adrift have far-reaching consequences. Said Keynes: "Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist...
Keynes is the book's sentimental favorite. Galbraith himself was under the influence of the British economist's theories during the Roosevelt years. Keynesianism became Americanized and contributed to our prosperity by successfully arguing that the Government spend to create jobs. But even Keynes now appears obsolete. Federal priming of the economy may put more people to work, but it cannot curb the inflation to which full employment is a major contributor...
Gustavo Escobar, a Venezuelan economist, said he supported the Oil Producing and Exporting Countries (OPEC) cartel of which Venezuela is a member. He said the OPEC countries were pursuing their legitimate self-interests...
...recently appointed chairman of the department, although well-known as an economist and analyst of selected urban systems, is neither a city planner nor a regional planner...
Chairman Kain, "although well-known as an economist and analyst of selected urban systems, is neither a city planner nor a regional planner...