Word: juster
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Dates: during 1980-1989
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That disturbs the experts who rely so heavily on Government data. Says Thomas Juster, an economics professor at the University of Michigan: "This kind of activity doesn't involve a major cost. It's a small-potatoes operation in terms of what the Federal Government does. But it also doesn't have any political attraction to the general public." Complains Henry Kaufman, the famed financial forecaster and former chief economist of Salomon Brothers: "The Government has not given a high enough priority to improving the quality of compiling economic data. We really do not cherish people...
...than save for tomorrow. Next came the inflation of the 1970s, which pushed prices up 87% in one decade. Consumers became accustomed to buying in a hurry because prices were always rising. Even as inflation has cooled off in the 1980s, the manic shopping reflex continues, notes F. Thomas Juster, an expert on savings behavior at the University of Michigan...
...everyone agrees. Says Thomas Juster, program director of the University of Michigan's Survey Research Center: "The observable tendency is for cutbacks across the whole spectrum of expenditure...