Word: greenspan
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Dates: during 1970-1979
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Though many of the recent impediments to vigorous industrial expansion -heavy corporate debt, tight money markets, huge surplus capacity-are now fading, the extent of increases in business spending this year is still uncertain. Alan Greenspan, chairman of the Council of Economic Advisers, believes that business spending has lagged -largely because of the general uncertainty in recent years. Greenspan expects capital expenditures this year to increase about 5% in constant dollars over last year and says that "the 1977 capital investment outlook is exceptionally good." According to the Commerce Department's latest survey of business spending intentions, plant...
...guests gathered in a dazzle of diamonds and a cloud of pastel-tinted chiffon and crepe. Among them were Lady Bird Johnson, Alice Roosevelt Longworth, Telly Savalas (star of Kojak, the Queen's favorite TV program), Olympic Skater Dorothy Hamill and White House Economic Adviser Alan Greenspan, who escorted TV's Barbara Walters...
...inflation -surged ahead at an annual rate of 8.7%, astonishing for a huge, mature economy. Last week a "flash" estimate circulated within the Government that the real G.N.P. increase during the current quarter might slow to a rate of about 3%. While such early estimates are often unreliable, Alan Greenspan, President Ford's chief economic adviser, said on ABC's Issues and Answers: "I think the evidence is fairly clear that the acceleration is slowing down...
Sustainable Course. Slowing down, perhaps, but certainly not fizzling out. Greenspan continued: "The recovery is very strong, solid, and we expect it to continue throughout this year and very likely throughout 1977." Agrees Otto Eckstein, a Harvard professor who is a member of TIME'S Board of Economists: "Things are going well. Of its own accord, the economy has slowed to a sustainable path...
...analysts believe that Government benefits may have been too high, discouraging some people from going to work but not encouraging them to vote for the jobs issue. The women's movement-which produced more two-income households-was cited as another reason why unemployment lacked political urgency. Alan Greenspan, chairman of the Council of Economic Advisers, even mused that a lot of experts overlooked the important role of the automobile. The incredible mobility of the American worker destroyed the conventional theories. Added a White House economic strategist, "Unemployment statistics can no longer be used as an index of hardship...