Word: hellers
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Edward Kennedy: Though his advisers include Keynesian luminaries Walter Heller, Joseph Pechman and Arthur Okun, Kennedy is playing down his 17-year Senate record as a liberal Big Spender and emphasizing his economic "pragmatism." Last week Mobil's outspoken public affairs vice president, Herbert Schmertz, joined the Kennedy campaign staff as a top media adviser, even though Schmertz has repeatedly condemned the Senator's attacks on the oil industry. Kennedy supports the budget-paring efforts of Carter, but he fought this year to protect social spending programs from major cuts and co-sponsored legislation for such programs...
Jack Goldstein, dean of the faculty at Brandeis yesterday refused to comment on the rejection of Cloward's appointment to the Heller School of Advanced Studies and Social Welfare at Brandeis...
There was a message in the weeklong madness in the markets. Says Democratic Economist Walter Heller: "I think Wall Street was saying, Sure, we think you ought to fight inflation, you ought to strengthen the dollar, you ought to tighten money, but holy smokes, not necessarily to the extent of knocking the props out from under profits." Still, the chaos in the markets deflected attention from the more fundamental significance of the Federal Reserve's moves, particularly its shift toward management of the money supply through direct controls instead of manipulation of interest rates. Conservative Economist Alan Greenspan describes this...
...WALTER HELLER: "I think the Fed got itself in a position where it had to do this," says the University of Minnesota professor who was President Kennedy's chief economic adviser. "If they had done any less, the world markets would have responded terribly negatively. Yet the costs are high. The Federal Reserve is taking the agony route to lowering inflationary expectations: squeezing down total demand in the economy, thereby weakening both product and labor markets. Increasingly people are going to be squeezed out of [credit] markets at those astronomical interest rates." Heller does not, however, expect "a full...
...antidote, several board members favor a tax cut. Heller argues that an early $28 billion reduction for consumers and corporations is "the only way to fly." Joseph Pechman, head of economic studies at the Brookings Institution, agrees on the need for a prompt...