Word: nathanity
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Incentive Lack. Among economists, Liberal Robert Nathan, a member of TIME's Board of Economists, and Conservative Paul McCracken, former chief adviser to President Nixon, found themselves unlikely allies in calling the program too small to give the economy the push it needs. Some bankers and businessmen were displeased that the program contains no specific incentive for investing more in new plant and equipment. Says Eugene Birnbaum, chief economist for the First National Bank of Chicago: "This tax package is appalling to me. We would be better off without stimulus than with one so badly formed...
...stand at a time of ideological and political onslaught upon the gains of women and minorities led, in many cases, by the ideologues of racism and sexism at Harvard. In their ideological plans to invalidate AA, they are in effect calling for its abolition. In publications and lectures, Nathan Glazer propagates the view that AA is an instrument of unfairness. He bases his views on what he interprets as the progress of individual blacks into the system as a result of bootstrap pulling and the flexibility of the system operating with a sentiment for equal opportunity. He totally ignores...
...Inflation, as measured by the consumer price index, will abate a tiny bit from the 5.8% expected for this year to 5.7%, and hold there until the end of 1977. This is dramatically better than past doubledigit levels. But Board Member Robert Nathan, who manages his own consulting firm in Washington, feels that the inflation figures have benefited disproportionately from "windfalls" of relatively steady prices of food and fuel...
...still unclear, and perhaps undecided. The President-elect said last week at a news conference that "my own preference is to concentrate on job opportunities"−meaning he would put more emphasis on Government spending for job-creating programs, less on a tax cut. On the Board of Economists, Nathan favors that approach as a method not only to put people to work but to begin tackling some of the nation's unmet social needs−for example, mass transit and aid to education. Other Democrats on the board doubt that new spending programs beyond $5 billion...
What caused the spending shortfall is still largely a mystery. Nathan 'theorizes that Ford Administration bureaucrats responded altogether too strongly to White House pressure to hold down the budget. Okun believes that departments and agencies estimated their spending at the highest levels foreseeable−which in fact were not met−to avoid any chance of having to apologize to the boss for overrunning their targets. There were also some mechanical delays in handing out federal contracts. For a while, some economists believed that the money not spent in 1976 would flow out in 1977, lessening the need...