Word: nathaneal
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Dates: during 1970-1979
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...Data Resources, Inc., a Cambridge, Mass., think tank, is a former member of the council, and its current chairman, Alan Greenspan, is on leave from TIME's Board. Murray Weidenbaum, who replaced Greenspan on our panel, was Assistant Secretary of the Treasury in the Nixon Administration. Robert Nathan heads a private consulting firm in Washington; David Grove is chief economist at IBM; Robert Triffin, an expert in international monetary policy, is a Yale economics professor; and Beryl Sprinkel serves as top economist at Chicago's Harris Trust and Savings Bank...
...stressing the need for a much more expansive program, Nathan points to the budget's projections for the so-called full-employment surplus. That is a significant figure designed to show what the budget would be if unemployment were only 4% and the economy were operating at optimum capacity...
Thus it can serve as a guide as to how much stimulus might be needed to spur a sluggish economy. The greater the budget surplus is by this measurement, the more the economy is reined in and deflated. Yet, notes Nathan, while the jobless rate will continue to hover at unacceptably high rates, the Administration estimates that the full-employment surpluses will be large and sharply rising: $12 billion in fiscal 1976, $29 billion in 1977, $33 billion in 1978, $45 billion in 1979, $61 billion...
Though these figures cannot be assumed to be irrevocable forecasts, they do chart the general direction of Administration policy for the next year or so. Says Nathan: "Clearly that is a very restrictive fiscal policy-and it does little to slow down inflation. Yet that is the price the Administration seems willing to pay for rather modest results...
...Nathan writes with a certain dis taste for Mishima - which is natural enough since Mishima was, for all his exuberance and charm, a squirmingly unpleasant character; his brilliance had the phosphorescence of decay. All his life, he was explicitly and erotically in love with death. Suicide was the only act, he believed, that could make him comprehend his own existence. Just after Mishima disemboweled himself, his mother said: "This was the first time in his life that Kimitake [Mishima] did something he always wanted to do. Be happy...