Word: galbraith
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Standing in the foyer of his Francis Ave. home, John Kenneth Galbraith, Warburg Professor of Economics Emeritus, doled out candy corn, tootsie rolls, and economic forecasts to nighttime visitors...
...Since (Federal Reserve Board chairman) Paul Volcker told us all that we'd have to reduce our standard of living, we're only giving out one piece of candy this year," Galbraith explained. "With Kennedy, though, we'll be back to two," he added...
...Chairman Volcker remains a man on the spot. Lane Kirkland, George Meany's apparent successor as president of the AFL-CIO, has already condemned the Fed's big rate boost as the "wrong move at the wrong time." Economist John Kenneth Galbraith labeled the Federal Reserve's program "an incredibly dubious policy" that will cause a steeper decline but help very little in slowing inflation...
...guest list read like a Who's Who of Camelot, with such notables as former speaker of the House John D. McCormack; John Kenneth Galbraith, Kennedy's ambassador to India and Warburg Professor of Economics Emeritus; and former secretary of defense Robert W. McNamara conspicuous in the crowd...
...soared 40 points. In recent years, however, the stock market has had the blahs, reflecting national uncertainty about the future. This summer the Dow Jones industrial average had already declined 50% from its peak of 1051 in 1973, when adjusted for inflation. Concludes Economist John Kenneth Galbraith, author of The Great Crash, a study of the 1929 debacle: "It would be hard to find any buildup of speculative hubris that would make us as vulnerable as we were...