Word: economists
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Dates: during 1980-1989
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...famed Pharaoh once dreamed of seven fat years of plenty followed by seven lean years of want. With the U.S. economy in the seventh year of a record peacetime expansion, signs are multiplying that for many Americans the fat times are coming to an end. In their place, economists prophesy everything from a soft landing, which could mean weak growth but little pain, to the ominous prospect of a deep recession. Few seers doubt, however, that a slowdown is at hand. "This has been a long expansion," says Allen Sinai, chief economist of the Boston Company Economic Advisors, a leading...
...billion to comply with the Gramm-Rudman law. But a recession could make a mockery of that rosy projection by swelling the red ink to as much as $175 billion. "Using monetary policy to slow the economy is a poor second-best solution," says David Rolley, a senior economist at the Wall Street firm of Drexel Burnham Lambert. "Cutting the budget deficit is the proper tool. But it is late...
King Hussein escaped personal blame, but Rifai was widely faulted. According + to Professor Ismail Abdul Rahman, an economist at the University of Jordan, the government's "fatal mistake" was avoiding action for years, then trying to do too much too fast...
...Work has become trendy," observes Jim Butcher, a management consultant for the Boston Consulting Group. But he and other professionals acknowledge the toll that such a relentless pace takes on creativity. No instrument, no invention, can emit an utterly original thought. "I flew 80,000 miles last year," says economist James Smith of the Rand Corp. "You start losing touch with things. My work is research, which at its best is contemplative. If you get into this mode of running around, you don't have time to reflect...
...surface, families are coping by teaching children to put the roast in the oven after school, enrolling them in day care, hiring nannies, making play dates, sending out laundry and ordering in pizza. "We spend a lot of time buying time," observes economist Smith. "What we're doing is contracting out for family care," notes Rand demographer Peter Morrison, "but there's a limit. If you contract out everything, you have an enterprise, not a family...