Word: economists
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Dates: during 1990-1999
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Although Ellwood appears to be the University'sclear choice, several administration andWashington sources have told The Crimson thatLawrence Summers, a former Harvard economist whois currently U.S. Undersecretary of the Treasury,is another front-runner for the deanship...
...that have tackled this issue are actually engaged in a practical--rather than an ideological--enterprise: they are trying to prevent lawsuits. In fact, in this era of heightened sensitivity, the legal pressures are coming from all sides. Even as Penn wrestles with the Topol case, another Penn professor, economist David Cass, is charging that the university has sexually harassed him by asking him about his relationship with a former student and then denying him a post to head the department's graduate program. Last week Cass was busy circulating a petition to try to block the new rules...
Brinkley sketches out the beginning of the era of mass consumption, recounting how America evolved from an economy driven by production to one stimulated by consumer spending. The prophet of this change was the British economist John Maynard Keynes, who preached that the way out of the U.S.'s 1937 recession was the triggering of demand, not the revival of investment. This idea was new to the industrial age, which had always followed Say's Law of Markets in asserting that production drove consumption...
...retirement age is already scheduled to rise very slowly, to 67 by 2027. Many think it should be boosted faster, and to age 70. "It is absurd to keep the same retirement age as when life expectancy was 10 to 15 years lower," says economist Friedman--still active as a senior research fellow at Stanford's Hoover Institution at the age of 82. It is also very expensive to prompt people to retire at what now seems to be an early age and collect pensions rather than pay taxes that might finance others' pensions for a vital five years...
COMBINE IDEAS: No one solution is likely to cure all the ills of Social Security. "There's a good argument for doing many things at once," says economist Neil Howe. "First, we should be raising the retirement age to 70. Second, there should be an affluence test to shift the system toward a floor-of-protection concept. Third, we should gradually move to a private plan...