Word: mayers
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Paper Profits. Brookings' 34-page report was prepared by Joseph Mayer, 57, a slender eyebrow-mustached economist-author (Bigger Men in Bigger Jobs, The Regulation of Commercialized Vice). As vith all Brookings reports, it was carefully scanned by bald, pudgy Harold G. Moulton, Institution president, and given a preface by way of approval...
Messrs. Moulton and Mayer alleged that the differences in the estimates arose because estimators have confused two different methods of computing national income, and then further garbled their figures by using "unjustifiable methods...
Built on Sand. Furthermore Messrs. Moulton and Mayer held that the Department of Commerce used a faulty method to reach its estimate of $140 billion in national income for the first "normal" postwar year. (Most economists figure on the end of both wars in 1945, the first normal year in 1947.) The Department has "too readily assumed" that the prewar increase in output per man (2½ to 3% a year) has continued during the war. Thus by 1947, according to the Department, the U.S. will have boosted productivity some 20%, and national income accordingly. The Department figures were "taken...
Having thus tried to demolish the chief bases of most estimates, Economist Mayer then makes his own estimate. He assumes that there will be no sharp postwar boom or precipitous collapse, that agricultural prices may decline, hourly wages and salaries and corporate profits will remain about the same, that there will be an increase in the number of employed over 1940, but that the income of wage & salary workers will be drastically cut because of the elimination of overtime, the shift to lower-paying jobs, etc. Likewise, the small businessmen and professional men will see their income drop about...
...many a businessman, painfully planning for the postwar, hotly pointed out that no intelligent or trusted planners used the "ridiculous" methods of estimating which Mayer decried. And in answer to the thesis that production tricks learned during war could not be used in peace, economists gave merely a few examples: would U.S. farmers forget the new stunts which had enabled them to raise the greatest U.S. crops in history? Would such basic industries as steel and copper junk their new skills...