Word: friedmanism
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Dates: during 1970-1979
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...raging inflation. He took the unusual step of holding an all-day, televised meeting at the White House with 28 noted economists. The group, which included six members of TIME'S Board of Economists, ranged from self-proclaimed "New Socialist" John Kenneth Galbraith to Hard-Line Conservative Milton Friedman. Whatever their ideology, what the President wanted was their "unvarnished" views on what to do about the sputtering economy...
...headed by Rush, that will monitor increases and decry those that seem excessive. It has no subpoena, suspension or rollback powers, but these could be added if the council proves ineffective. A surprising number of economists, ranging ideologically from Joseph Pechman, a former adviser to George McGovern, to Milton Friedman, onetime adviser to Barry Goldwater, predict that Ford eventually will feel compelled to revive full wage-price controls, though the President declared at his press conference that "wage-price controls are out, period...
...President wrote his soothing, low-keyed speech?which he described as "just a little straight talk among friends . . . the first of many"?beginning late Wednesday night, with the help of his chief of staff, Robert Hartmann, and Speechwriter Milton Friedman. With genuine humility, Ford conceded that "you have not elected me as your President by your ballots," and asked that he be confirmed "with your prayers." He emphasized the need for truth and promised to follow his "instincts of openness and candor." Time and again Ford talked about his "friends," not once mentioning enemies, domestic or foreign. Implicitly...
...long and losing struggle to manage an unruly economy, the Nixon Administration has at one time or another applied the diverse economic theories of Milton Friedman (concentration on money supply), John Maynard Keynes (liberal spending) and John Kenneth Galbraith (price control). Last week, still seeking an effective anti-inflation strategy, it went back to Adam Smith. In a bow to the oldtime, laissez-faire religion of reduced Government spending, the White House announced that it would try to trim more than $5 billion out of the budget for fiscal 1975, which starts this week. If the cuts are actually made...
Also: James J. Faran V of Leverett House; Carl P. Franck of Eliot House; William S. Freeman of Dunster House; Malcolm B. Friedman of Lowell House; Lawrence C. Fritz of Mather House; Andrew E. Furer of Adams House; James K. Galbraith of Quincy House; Charles M. Gelber of Dunster House; Philip A. Gelston of Adams House; James M. Gerber of Leverett House; and Stephen H. Goldberg of Dunster House...