Word: economists
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Dates: during 1970-1979
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...that Economist Wassily Leontief has assured us that we can support several billion more people on our planet, perhaps he can give us one good reason why we should...
Even within the lameduck Ford Administration, some officials are beginning to believe the economy needs some temporary stimulation. Says one Ford economist: "If the numbers don't move in the next couple of months, no one will stand in the way of a tax cut." In fact, Ford in his final budget will propose a tax cut of $10 billion and tie the cut to reductions of $15 billion or perhaps $20 billion, to begin about a year from now, in federal spending programs...
...juice up the economy by cutting taxes and other pump-priming measures next year. "He faces a terrible temptation to heat things up," says Thomas Ayers, the chairman of Chicago's Commonwealth Edison. "I hope he chooses a moderate course." Declares Norman Robertson, senior vice president and chief economist of Pittsburgh's Mellon Bank: "If he should try to adopt the Humphrey-Hawkins bill [which calls for heavy spending on public-service employment] or something like it, trying to reach a predetermined level of unemployment too quickly, this could seriously worsen inflation. One wonders what restraint can there...
...inappropriate time for an election-conscious Ford Administration. During the past nine months, the budget was providing less of a push to the economy than the White House had intended. The shortfall probably was one reason for the pause in the U.S. economic recovery Explains one Washington economist:"We are worried about this pause, and we get more worried every day. This shortfall is just one more worry " It is sure to strengthen the hand of liberal economists who believe Congress should act early next year to give the economy another boost, probably a tax cut Brookings Institution Economist Arthur...
...board has discovered a scarcity of experienced women banking executives. When the directors went shopping for a woman to be president, they found barely 20 whom they considered qualified. They finally picked Madeline McWhinney, 54, an economist who had been an assistant vice president of the New York Federal Reserve Bank but had no experience in commercial banking. Then, in September, she resigned from her $37,500-a-year job, complaining, insiders say, that she had grown weary of dealing with a board whose main devotion seemed not to banking but to a cause. The bank is now headed -temporarily...