Word: feldstein
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...ongoing controversy over the elimination this year of "radical" sections for mega-popular Social Analysis 10. "Principles of Economics," likely will be fueled again when council members finish reviewing their recent survey of the thousand-student class. Academic tempers first flared when Baker Professor of Economics Martin S. Feldstein, fresh from two years of speaking his mind in Washington, cut out the radical option as part of a general streamlining effort...
Still, it is Regan's emergence that seems certain to keep Washington astir with fresh uncertainties, intrigues and potential clashes. While Treasury Secretary, Regan seemed to relish a good brawl. He butted heads with Volcker and with Martin Feldstein, former chairman of the Council of Economic Advisers. After seriously considering efforts to kill the council, the President decided last week against such a drastic move. It is clear, however, that Regan will not take kindly to any economic advice that runs counter to his own beliefs. He had, for example, disputed Budget Director David Stockman's gloomy economic estimates. Stockman...
...recently as last February, Regan stunned members of the Senate Budget Committee by literally trashing the annual report of the chairman of the Council of Economic Advisers, Martin Feldstein, which warned that soaring budget deficits threatened to stifle the economy for years ahead. Scowled Regan: "As far as I am concerned, you can throw it away." He has blamed high interest rates on the monetary policy of the Federal Reserve Board, not the heavy federal borrowing requirements created by high deficits, the culprit cited by most economists. At one point he went so far as to assert that "there...
...Department Chairman Martin S. Feldstein '61 announces that in the interest of making the curriculum for Social Analysis 10, the yearlong introductory economics course, more uniform, the class will only cover post-Keynesian economics. "There will be additional, optional lectures on economic policy prior to 1980," the former chairman of the Council of Economic Advisors reassured concerned students...
Like most economists, Feldstein contended that the budget deficit helped keep U.S. interest rates high in 1984, which attracted about $100 billion in foreign capital to American investments. While the money from abroad helped finance the federal deficit, it also boosted the value of the dollar to new peaks. The dollar's strength was a boon to American tourists, who traveled overseas in record numbers, but it was a burden to U.S. companies that tried to compete with cheap imports or sell their products abroad. Primarily because of the robust dollar, the U.S. racked up a record trade deficit...