Word: economists
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Dates: during 1970-1979
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...damp down inflations is questioned in a chapter titled "The New Economics at High Noon." Galbraith argues that the reluctance of governments to raise taxes or cut spending during booms proves "the fatal inelasticity of the Keynesian system." Monetary policy is dismissed as "a perverse and unpredictable lever" and Economist Milton Friedman's carefully documented thesis that rapid expansion of a nation's money supply contributes to inflation is rejected as "breathtakingly simple...
...Dean Rosovsky, tenure is not very feudal. An economist, Rosovsky said the process was much more like a trust, with each professor a shareholder. The responsibility of each member is to find "the best possible person in the world in any field...
Should the U.S., West Germany and Japan do more to help the global economy snap back faster from the recession? Emphatically yes, says H. Johannes Witteveen, the Dutch economist who is managing director of the International Monetary Fund. At the IMF's annual meeting of finance ministers in Washington last week, Witteveen suggested that the three leading industrial powers were all but dutybound to pursue more stimulative economic policies in order to "lead the world to recovery." Witteveen's argument drew prompt rebuttals from all three nations. Said U.S. Treasury Secretary William Simon: "We believe we have taken...
...produce atomic weapons. India exploded its first bomb 16 months ago; other states like Pakistan could follow suit. It is unlikely but not inconceivable that these economically desperate states, feeling they have nothing to lose, might try to use nuclear blackmail to get more help from the West. As Economist Robert Heilbroner writes in his highly pessimistic An Inquiry into the Human Prospect, "The resort to ultimate tactics is surely not to be dismissed as mere fantasy...
...high, a reflection of the difficulty of statistically accounting for students entering the job market. The decline in the unemployment rate after August is expected to be painfully slow and to remain at or near 8% well into next year, as President Ford campaigns for election. Democratic Economist Walter Heller foresees joblessness still around 8.5% even at the end of this year, possibly tapering to 7.5% or 7% by the end of 1976. "I think people are underestimating the unemployment problem, which is that there is a huge underemployment problem," he says. "There is a bad fit between training...