Word: hellers
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...basic tax, budget and monetary policies will not change. Both Burns and Greenspan think that the economy will not resume growing until some time next year; but, largely because investment by business should remain strong, they do not foresee the bad declines predicted by some economists, notably Walter Heller (see following story). The real test of Ford economics lies ahead-and a large part of how well it fares will depend on how willing he is to be flexible...
...last week to analyze President Ford's proposals and assess prospects of the U.S. economy for the year ahead. All but one of the nine board members agreed without doubt that the nation is in recession, with little hope for recovery before late next year. Walter W. Heller of the University of Minnesota, a former chairman of the Council of Economic Advisers, went further than most, yet few disagreed with the thrust of his thinking: "We are driving this economy into very deep recession-the worst since the Great Depression...
Most of the economists predict that corporate profits will decline through 1975's first half. Heller foresees no near-term surge in consumer spending...
Moral Blindness. Not even Joseph Heller could spend 13 years brooding over Something Happened. Between bouts of literary fretting, he has taught fiction writing at Yale and the University of Pennsylvania (Heller himself did graduate work in English at Columbia and Oxford). He has written a few TV scripts and screenplays (Sex and the Single Girl). He also wrote a play, We Bombed in New Haven, a dramatic indictment of the moral blindness of the Viet Nam War that demonstrated the author's difficulties with plot...
Kind advance reviews have compared Something Happened to a "Greek tragedy without catharsis." Heller is naturally pleased, since he acknowledges a literary debt to such sources as The Children 's Reader, the annual reports of corporations, and R.D. Laing. What will he do next? He does not know, though he would like to do it in three years, if possible. Then the Slocum-Heller angst sets in. "I am afraid I may never get another idea that will turn into a novel...