Word: economists
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Dates: during 1970-1979
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...have set up second residences abroad. Whether they emigrate will depend on the outcome of the next general election (probably in February). Manley's People's National Party currently has 35 seats in Parliament, to 17 for the opposition Labor Party, led by Edward Seaga. An able economist, Seaga faces the ethnic disadvantage of his Lebanese ancestry; he is light-skinned in an overwhelmingly black nation. Nonetheless, he stands a good chance of winning if there is more violence and the economy continues to stagger. Many Jamaicans are convinced that will be the case. In the sad words...
...price and supply of oil if major companies were dismantled. Even with divestiture, some companies would be giants; as far as accounting figures can be interpreted, just Exxon's refining and marketing operation would make it the second largest corporation in the world behind General Motors. Oil Economist Morris Adelman of the Massachusetts Institute of Technology sees no great loss or gain from breaking up the oil companies and thinks the effort is a "waste of time." Yet the issue will probably continue to flare, especially if the Democrats gain both the Congress and the White House in November...
...public pronouncements, at least, the Partito Comunista Italiano (P.C.I.) has disowned one of the basic tenets of Marxist economic analysis: that capitalism is in the process of being destroyed by its own contradictions. "This [Italy's economic] crisis is not an invention of the capitalist world," says P.C.I. Economist Eugenic Peggio. "It is an objective event...
...surprise that Rosovsky, a successful economist, exudes self-assurance and has become the Faculty's golden boy. But some say he is too confident, say that in his dogged pursuit of what he believes he tends to judge issues in black and white terms, quickly becoming impatient with the nuances of the gray...
...long such a slowdown might last seems to depend on what happens to prices. Says Sidney Jones, the Treasury Department's top economist: "The heart of consumer spending is confidence that inflation is under control, and the key to keeping people buying is to keep prices at a reasonable level." Right now, after slowing to a mild 2.9% early in the year, inflation is once again moving up slightly: in April the rate climbed to 4.9%, due largely to higher costs for food and fuel. As a result, several polls, including one by the Conference Board, a business-sponsored...