Word: gardners
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Dates: during 1960-1969
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Next to Robert McNamara, the man with the fastest-growing job in Washington may well be the U.S. Commissioner of Education. Serving under Health, Education and Welfare Secretary John Gardner, the commissioner is responsible for an ever expanding variety of federal programs, ranging from school integration to college scholarships to developing new teaching techniques. Last week President Johnson named to the job Harold Howe II, 47, a proven administrator in both public and private education, to succeed Francis Keppel (TIME cover...
...from their ivory towers and now sit confidently at the elbow of almost every important leader in Government and business, where they are increasingly called upon to forecast, plan and decide. In Washington the ideas of Keynes have been carried into the White House by such activist economists as Gardner Ackley, Arthur Okun, Otto Eckstein (all members of the President's Council of Economic Advisers), Walter Heller (its former chairman), M.I.T.'s Paul Samuelson, Yale's James Tobin and Seymour Harris of the University of California at San Diego...
...times, Keynes was primarily interested in pulling a Depression-ridden world up to some form of prosperity and stability; today's economists are more concerned about making an already prospering economy grow still further. As Keynes might have put it: Keynesianism + the theory of growth = The New Economics. Says Gardner Ackley, chairman of the Council of Economic Advisers: "The new economics is based on Keynes. The fiscal revolution stems from him." Adds the University of Chicago's Milton Friedman, the nation's leading conservative economist, who was Presidential Candidate Barry Goldwater's adviser on economics: "We are all Keynesians...
...advisers and the budget director. "I indicated what the problems were, as I saw it. They did not agree with me." In fact, Martin gave the President a written memorandum in October giving reasons why he felt a discount hike would be needed, and Fowler and Chief Economic Adviser Gardner Ackley retaliated with memos contesting his reasoning. Martin felt that the discount rate should have been raised in September, believes that if the Board had not acted earlier this month its hands would have been tied until mid-February because of Treasury refinancing of the national debt in January...
...President John son had publicly expressed his "regret" over the board's 4-to-3 decision to raise the discount rate in order to counter in flationary trends (TIME, Dec. 10). As sembling his quadriad of top economic advisers - Treasury Secretary Fowler, Council of Economic Advisers Chair man Gardner Ackley, Budget Director Charles Schultze, and Martin himself-in Texas, Johnson discussed the state of the economy with them for two hours...