Word: economists
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Dates: during 1980-1989
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...need to adapt foreign ideas and keep up technologically with foreign mili tary equipment has introduced a capitalist-like competitiveness to military production that is woefully lacking in the domestic economy, where shoddy goods do not face the test of the marketplace. As a leading Soviet economist, Academician Vadim Trapeznikov says, "One of the mainsprings of progress is the comparison of the quality of goods with that of the products of other domestic and foreign firms. This is particularly apparent in the defense industry, where there is a permanent and inevitable comparison with foreign technology...
...foreseeable future, the long-suffering Soviet consumer will have to continue paying for the inherent contradiction of Soviet society: the desire to be a military superpower while having the economy of a semiadvanced nation. Says Economist Marshall Goldman, associate director of Harvard's Russian Research Center: "The Soviets have the slimmest waistlines in the world. They can always tighten their belts another notch...
...Board announced that its monetary targets will be slightly stricter this year than in 1983. Its goal for M 1, the basic money supply, which includes mainly currency in circulation and checking accounts, will be 4% to 8%, down from 5% to 9% last year. Said David Jones, chief economist of Wall Street's Aubrey G. Lanston investment firm: "The Fed has thrown down the gauntlet to the Administration, saying, 'We will not monetize the deficit even if this is an election year.' " Volcker's resolve has dashed Wall Street's hopes that interest rates...
This is precisely what President Bok did in naming economist A. Michael Spence to succeed Rosovsky. The new dean is not a scientist as many in Harvard's laboratories were reportedly urging on Bok. Nor has he taken unusually active role in collective Faculty affairs as some might have expected of a new dean. Rather, at 40, Spence is one of the youngest and, by all accounts, brightest members of the Faculty. He should, simply by dint of not being all that well known, bring a breath of fresh air to University Hall...
Spence uncannily seems to fit all the possible attributes Bok was looking for in filling the job. As an economist, he should be able to maintain the tight-fisted control Rosovsky kept on the budget deficits, which have largely subsided since swelling up to several million dollars in the early 1970s. And Spence's aptitude for computers should serve the Faculty in good stead, as it capitalized on the technology boom that is revolutionizing certain aspects of college education. In his capacity as chairman of the Economics Department. Spence has shown a grasp for the problems of graduate students...