Word: moultons
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Dates: during 1940-1949
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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...
Apostle of Defeat. Over & above the squabble over figures, one fact stood out: there is a widening split between the conservative thinking of Dr. Moulton's Institution and the optimistic approach to the postwar problems of business of such groups as C.E.D. As one bigwig summed up: "Brookings Institution appears to be becoming the modern apostle of defeatism. Its position implies that the ingenuity and initiative of American businessmen and workers, so completely demonstrated during the war, will disappear with the peace. This suggests the defeatism of believers in the mature economy theory...
Doubles Ten Barge and Hunt (B) defeated Willner and Hatton (H) 7-5, 5-7, 6-2; Magleas and Moulton (H) defeated Staats and Schlock (B) 6-1, 6-0; Pratt and Marks (H) defeated Savage and Mareneck...