Word: economists
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Dates: during 1990-1999
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...early- to mid-1960s, though, the persistence of prosperity finally became too blatant to ignore, and one prominent economist proclaimed that we had one foot through the door of a Golden Age. Recessions, if any, would be short and mild; John Maynard Keynes had shown us how to stop them. Lyndon Johnson never doubted that a growing economy would generate enough revenues to finance wars against communists in Vietnam and poverty at home-simultaneously. Civil-rights crusaders never considered the possibility that blacks would be educated and trained for good jobs that would fail to appear. Even hippies assumed they...
...badly-was exploded by the Arab oil embargo and energy crisis of 1973. Almost overnight, opinion swung to the blackest pessimism: the industrial West would be permanently crippled by oil shortages, while Middle Eastern sheiks and emirs raked in -well, just about all the money in the world. One economist, who has since become one of the most respected and powerful in the country, prophesied that in a few years motorists on the New Jersey Turnpike would see oil refineries adorned with signs written in Arabic and pictures of the King of Saudi Arabia proclaiming their new ownership. Oil shocks...
...above analysis comes from Frank Levy, an M.I.T. economist and expert on family incomes. The way Levy sees it, politicians are rushing to the aid of a vanishing middle class that isn't really vanishing. While there has been a big drop in the number of families making $20,000 to $40,000 a year, it has been offset by a sizable increase in the number of families making...
...Joshua E. Greenfield '97, managing editor of the Harvard College Economist, said the magazine would have to rely heavily on other means of publicity...
...Ernesto Zedillo, after just a month in office struggling to retain credibility as his nation's finances appear in disarray, today fired his treasury secretary and adopted an international bailout package which hopes to stabilize the peso. Treasury Secretary Jaime Serra Puche will be replaced by another U.S. trained economist, Guillermo Ortiz Martinez. The new package is designed to limit wage and price hikes and will also include unspecified financing from industrialized nations including the U.S. and Canada. Meanwhile, the value of the peso increased today, a second straight day of improving prospects for the nation's currency...