Word: economists
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Dates: during 1980-1989
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...terms, whether by changing the income brackets or focusing on job categories. While some researchers see a smaller shrinkage, or barely any at all, many are convinced that the change is real. "No matter what definition you use, you come up with the phenomenon," says James Smith, a senior economist for the Rand Corp...
...scientific measure of the middle class, however, entails drawing arbitrary brackets, both economic and psychological, around the group. At least one economist thinks this is folly and that Middle America is essentially a state of mind. Says Lawrence Lindsey, assistant professor of economics at Harvard: "A middle-class person is someone who expects to be self-reliant, unlike the upper class with its unearned wealth or the lower class with its dependency on society. Far from declining, the middle class is bigger than ever, and its ethic is alive and well...
...Nigerian writer yesterday was named the winner of the Nobel Prize in Literature, becoming the first African to win the award in its 85-year history, and an American economist won the Nobel Memorial Prize in Economic Science...
Harry Truman used to complain that he needed a "one-armed economist" because his advisers were always starting briefings with "On the one hand . . . but on the other hand . . ." Last week economists had to use both hands as they confronted a puzzling mixture of good and bad news...
...deficit would be a tonic for domestic economic activity, which is still showing signs of weakness. The Government reported last week that new-home sales dipped 13.4% in August and the unemployment rate jumped from 6.8% to 7% in September as manufacturers eliminated 38,000 jobs. Concludes Economist Charles Schultze, a senior fellow at Washington's Brookings Institution: "The economy just hasn't shaken off its lethargy...