Word: greenspan
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Dates: during 1970-1979
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...Alan Greenspan, chairman of the Council of Economic Advisers under Gerald Ford, cites another benefit: "Because property taxes are a component of the consumer price index, and because California property taxes are such a large portion of the national total, the proposition will cut the index by .2% in December-say, from an inflation rate...
...Greenspan defends the drastic medicine prescribed by Proposition 13. Says he: "Such brutal sledgehammer techniques turn out to be necessary to prevent government from continuing to increase its share of overall economic activity." Washington University Economist Murray L. Weidenbaum agrees: "If government doesn't cut rates, people have...
Concedes Alan Greenspan: "I am uncomfortable because local governments will be more dependent on state and federal governments. Still, if I had to choose between nothing at all or Proposition 13 and a weakening of local government, I must say that I would prefer Proposition...
...large, Republican board members-Greenspan, Sprinkel and Washington University's Murray Weidenbaum -figure that unless the Government can reduce the growth of spending and the budget deficit, Carter's latest anti-inflation campaign, aimed at jawboning down prices and wages, will fail. Indeed, Weidenbaum argues that the Administration's drive is making businessmen fearful of sterner price guidelines ahead. So they are motivated to raise now "rather than be caught with their prices down...
...find a way to close the port of Yokohama for a few months." More to the point, Yale Professor Robert Triffin sees little chance of narrowing the trade gap until "the Administration and Congress make some significant sign that they are doing something about the basic problem of energy." Greenspan agrees, though he believes that the dollar's value will stabilize or rise on world markets because it is now far below the level that the worst fears of U.S. inflation would justify...