Word: economists
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Dates: during 1970-1979
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...past few years. Although she is not completely successful, Howe's attempt to chronicle the perspective of that silent majority of women in the labor force is a useful one; her effort to give body to the statistics gives them a force that is lacking in the economist's graphs...
There is a withering crossfire of pedantries in nearly all academic discussions of slavery and American blacks. Two years ago, in a book called Time on the Cross, Economist-Historians Robert Fogel and Stanley Engerman accumulated a mass of data on antebellum life in the South. They fed their statistics into computers and came up with an astonishing portrait of slavery as a highly rational and efficient system that gave the South considerable economic growth and a high standard of living for all Southerners, both black and white. While admitting the immorality of slavery, Fogel and Engerman found that blacks...
Boss's Shadow. Gramley, who taught economics at the University of Maryland while Schultze was also on the faculty, describes himself as a "middle of the road, pragmatic, liberal economist." Despite his years at the Federal Reserve, he says "I am definitely not a monetarist [one who places prime importance on money supply]. The growth rate of the money supply is not the beginning and end of economics." He is regarded as one of Washington's best at economic forecasting, a field he will specialize in at the CEA. Nordhaus, bearded and bespectacled, calls himself "an economic theorist...
Though Schultze has promised the new members that the council will work as a team, there is a possibility that Gramley and Nordhaus will be lost in the boss's shadow. Schultze, a Keynesian economist who was Lyndon Johnson's Budget Director and later turned out a widely read series of critiques on the budget for the Brookings Institution, knows his way around Washington as well as anyone else in the Administration. Also, though he and Carter knew each other only slightly before the campaign, he has developed a remarkable rapport with the President. Economists who have attended...
...Schultze's problems is that the CEA is among Washington's smallest bureaucracies: its staff numbers only about 45, including 25 economists. The result, says Washington Economist Gary Fromm, is that "the CEA cannot anticipate problems and prepare long-range analysis. Without a bigger staff, it has to shoot from the hip." Fromm has recommended doubling the staff, and Schultze has promised to consider the idea. At his present pace, it is difficult to forecast when he will have the time...