Word: economists
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Dates: during 1980-1989
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...year marked the centennial of the birth of John Maynard Keynes, and the tonic that jolted the U.S. out of recession was just what the famed economist might have prescribed: easier money, lower taxes and heavy Government spending. Ironically, the chief architect of the recovery had never been known as a disciple of Keynes'. Ronald Reagan came to the White House pledging to balance the budget and trim the size of Government. Instead, his Administration ran up a fiscal 1983 deficit of $195.4 billion, which is more than the entire budget was less than 15 years...
Differing sharply with Reich was the Brookings Institution's Charles L. Schultze, President Carter's chief economist. Any attempt at industrial policy, said Schultze, is more likely to do harm than good. While he approved Government support of research and development and Government-financed job-retraining programs, Schultze warned that a "coordination" program would almost surely increase protectionism and unwarranted subsidies. Said he: "A Government agency that explicitly tries to sit there and say, 'The cotton industry can live but the wool-textile industry will die' or 'The Youngstown steel plant can be rehabilitated...
...epitome of high-toned datebooks and among the bestsellers is the Economist Diary, offered by the London financial magazine. First published in 1948, the handmade leather volume supplies its owner with facts ranging from the average hours of sunshine a day in Edinburgh (3.75) to the hog and pig population of the U.S. (59 million in 1982). The $43 book has become a prestige item round the globe. Says Christopher Curwen, the Economist's U.S. publications manager: "In the offices of top government ministers in Latin America, you'll see some 25 of these red desk diaries...
While politicians and diplomats seem to prefer the Economist's diary, a popular datebook in the movie industry is LeBook Los Angeles, which for $28.50 offers 116 pages of local services ranging from art galleries to auto rentals. Its publisher, Citrus House, also sells a national LeBook containing the basic rundown on 36 of the most visited cities in the U.S. This year LeBook contains a guide to the Olympic Games...
...transition toward civilian rule was supposed to begin this week with the first full meeting of the nine-member "advisory council" that will govern until elections can be held. But that session now seems in doubt since Alister Mclntyre, the Grenadian economist appointed by Governor-General Sir Paul Scoon to head the council, has fallen ill. He resigned his new post, and reportedly entered a Geneva hospital for eye surgery...