Word: economists
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Dates: during 1980-1989
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...economists were more pleased than alarmed by the figures. Many had been afraid that the economy was overheating and that mounting inflation and higher interest rates were on the way. Now analysts are more confident that the economy stands a chance of avoiding those perils without going into a sharp downturn. "There is no reason for worry in this GNP result," said Allen Sinai, chief economist of the Boston Co. investment firm. "Growth of just under 3% is pretty good. This is more like a soft landing than a recession...
When France changed direction during the mid-1980s and turned many of its nationalized industries back to private hands, no one should have felt more pleased than Maurice Allais, France's most eminent economist. During the country's postwar reconstruction, when French economists of nearly every stripe endorsed nationalization, Allais took exception. Still, he became an influential contrarian voice in the making of France's industrial policy, arguing that even state-run monopolies are most efficient when they set prices and allocate resources according to market forces...
...does not, experts like Robert Chandross, chief economist at Lloyds Bank in Manhattan, warn that prices could drop below $10 per bbl. and remain at that level for the next six months. That would mean a repeat by next spring of the oil-market collapse of early 1986, when OPEC overproduction sent prices crashing to less than $10 per bbl. While cheap energy helps most Western economies by lowering inflation, petroleum at prices below $10 or $12 per bbl. is a painful prospect for such indebted oil producers as Algeria and Mexico and the weakened U.S. energy belt...
...life and work of Harvard's own E.O. Wilson, expert in insect communication and sometime "father of sociobiology," leads Wright to investigate biology. Finally, attention shifts to the role of information in the social sciences and the work of economist and systems-theorist Kenneth Boulding...
...many parents feel they have no choice. A college diploma, once the passport to upward mobility, is becoming a necessity just to avoid falling out of the middle class. Frank Levy, a University of Maryland economist, calculates that in the early 1970s a 30-year-old male college graduate could expect to earn at least 15% more than a 30-year-old with a high school diploma. By 1986 the gap had grown...