Word: economists
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Dates: during 1970-1979
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...that time, unfortunately, the speakers had lost a chunk of their audience. Few viewers who had sat through the first 82 minutes could claim that they had gained refreshing new insights into economic problems and policies. Said Harvard's Otto Eckstein, a liberal member of TIME'S Board of Economists: "I've got to teach freshman economics on Monday and I'd be hard put to find something useful in the debate to teach them. The candidates just completely missed a grand educational opportunity." Yale's Robert Triffin, another member of TIME'S Board, found the debate "desperately dull...
...Hate List. The grisly murder ended the life of a man high on the hate list of Chile's right-wing military government. Letelier had been one of Chile's most prominent citizens-in-exile. An economist, a lawyer and a committed Socialist, he was sent to Washington as Santiago's ambassador by Chile's Marxist President Salvador Allende Gossens in 1971. Two years later, Letelier returned home to take a series of top Cabinet jobs during the frenetic final days of the Allende regime. Imprisoned by the junta that succeeded Allende, Letelier was freed...
...danger. They worry, however, because statistics show a sharp dip in economic performance between April and September. After being discounted for inflation, the gross national product, which spurted by 9.2% in the first quarter of 1976, dropped to 4.5% in the second quarter. Most of the economists also agree that growth will not improve much in the third quarter. Alan Greenspan, Ford's top economic adviser (currently on leave from TIME'S board), has shrugged off the decline as a temporary "pause." Says David Grove, chief economist at IBM: "I wouldn't use the Coca-Cola slogan...
...That is far below the 16.8% rate prevailing when Ford took office-justification for those who believe that the policies of his Administration should be continued. But the rate is still high by historical standards. Says Robert Nathan, a private consultant in Washington: "Four or five years ago, no economist would have said that a 6% rate of inflation might be regarded as tolerable. It's still wholly intolerable...
...reason for the unions' troubles, says Labor Economist F. Ray Marshall of the University of Texas, is that many Southern factories have been plunked down in what were once farming communities. Workers from rural backgrounds are less attuned to unionism than those in the industrial centers of the North. Racial tensions also play a role. As in Barnesville, black workers are often especially eager to sign union cards-and that puts off the whites. Then, too, many Southern workers, especially in Piedmont towns where the local textile mill is almost the only source of employment, are so happy...