Word: economists
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Dates: during 1980-1989
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Joblessness is at its lowest level since 1974. The Labor Department reported last week that the unemployment rate dropped to 5.3% in June, down from 5.6% the previous month. Barry Bosworth, an economist at the Brookings Institution, thinks the jobless level is approaching the threshold at which it begins to spur wage and price increases. Says he: "I like an unemployment rate of 5.3%, but if it goes below 5%, then I would be concerned." Yet other economists think the work force can readily accommodate the scattered shortages. Says Beryl Sprinkel, chairman of the President's Council of Economic Advisers...
Last Wednesday, which was election day in Mexico, the PRI's presidential candidate, Carlos Salinas de Gotari, a Harvard educated economist and former Minister of Public Finance, announced his victory before a majority of the votes had been turned...
...years ago. So far, the U.S. has made no significant effort to halt the rise. But while the slightly stronger dollar has some benefits, like reducing inflation, a prolonged upward trend could eventually reverse America's trade progress and drag down economic growth. Declares Daniel Laufenberg, senior economist for IDS, a financial-services firm: "A stronger dollar endangers American competitiveness and jobs. In the long term, the dollar has to go down...
...large, delegates refrained from discussing Soviet foreign policy. The exception was the eight-year war in Afghanistan, which was criticized as a misguided Brezhnev-era adventure by two speakers, Editor Grigori Baklanov and Economist Yevgeni Primakov. But Gorbachev was applauded when he defended the performance of Soviet troops in Afghanistan. The commander of the Soviet forces there, Lieut. General Boris Gromov, told the conference that "we have performed our duty with honor...
...opposite possibility: that the Social Security program will push the overall budget substantially into surplus. If Government revenues far exceed spending, less money will be available for businesses and consumers. That could produce a drag on the economy or even a recession. Already, says Robert DiClemente, a senior economist at Salomon Brothers, "many people are now paying higher ((Social Security and Medicare)) payroll taxes than income taxes." The thing to do, argues Robert Myers, chief actuary of the Social Security Administration from 1947 to 1970, is to cut the payroll tax so that the trust fund has no more than...