Word: experts
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Dates: during 1980-1989
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...chair in his spacious office adjacent to that of former mentor and friend, CEA Chairman Martin S. Feldstein, Summers seems almost out of place--as if he were back in Cambridge leisurely receiving a visitor during office hours. But as the 45-minute interview progresses and the public finance expert is constantly interrupted by a stream of telephone calls or colleagues asking for a quick bit of advice, the outsider is brought back to Summers' real present world of three-page memos, staff meetings, and access to some of the Administration's top policy makers...
...room-size computer to a silicon chip the size of a pea. And prices kept dropping. In contrast to the $487,000 paid for ENIAC, a top IBM personal computer today costs about $4,000, and some discounters offer a basic Timex-Sinclair 1000 for $77.95. One computer expert illustrates the trend by estimating that if the automobile business had developed like the computer business, a Rolls-Royce would now cost $2.75 and run 3 million miles on a gallon...
...long-term outlook for OPEC and oil prices is squarely tied to the health of the world economy, which shows few signs of rebounding any time soon. A vigorous recovery, however, could rejuvenate the cartel by driving up demand. Says James McKie, a University of Texas energy expert and member of the TIME Board of Economists: "If world recovery does proceed and the growth of demand resumes, I would expect OPEC to regain at least the amount of clout that it had before the Iranian crisis." OPEC may be gravely wounded, in other words, but rumors of its imminent demise...
...rumored, could lead as high as Soviet Leader and former KGB Chief Yuri Andropov. The reactions in West European capitals range from total disbelief to qualified credulity. Says a top British official: "I think the Russians have become too sophisticated to try this sort of thing." A French government expert, however, notes that subversion from the Communist bloc is a "permanent threat" that must be taken seriously...
...Petroleum Exporting Countries have been overshooting their production quotas and offering customers discounts off the cartel's $34-per-bbl. official price. "OPEC's quota and pricing system may be on the verge of breaking down," said Board Member James McKie, an economics professor and energy expert at the University of Texas. If that happens, McKie added, oil prices could fall to $20 per bbl. or below...