Word: next
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Dates: during 1960-1969
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...dramatize their demand that 20% of the construction workers on future Harvard buildings be drawn from black and other "third world" groups. Last week Harvard officials cited the fact that the nonwhite population of Cambridge is less than 10%, and called the 20% proposal "gross and seemingly illegal discrimination." Next day black students responded by preventing workers from entering a Harvard construction site, taking over the faculty club and seizing University Hall as well. Once more, they left the administration building without causing violence, but not before Harvard got a court injunction, and at least 50 blacks were suspended...
...economists attend. McCracken has been monetarist-minded for years, and since he took office the council has begun running computer calculations about the future course of the U.S. economy based on monetary indicators. Friedman has even closer relations with Arthur Burns, Nixon's choice to succeed William McChesney Martin next month as chairman of the Federal Reserve Board. Friedman studied under Burns at Rutgers, and they have often spent evenings in animated discussion at Ely, Vt. where both own country homes...
...Administration's economists admit that they are practicing brinksmanship. Anything more severe than a mild or brief recession would damage Republican chances of winning more Senate and House seats in next November's election. It will avail Nixon little politically to blame inflation on the Johnson Administration, even though Lyndon Johnson's failure to ask for higher taxes in 1966 to help meet Viet Nam costs is a major source of today's problem. Some congressional Republicans believe that Nixon will arrange to relax the money squeeze well before ballot time. But at least one of the President's most...
...they had better build plants and buy equipment now instead of waiting until prices go up still further. Despite dwindling profits, scarce credit and excess capacity, the Government's latest survey shows that businessmen plan an 11% increase to $71 billion in their investment for plant and equipment next year. Capital spending has been an important force behind inflation in recent months, and such an increase would add greatly to price pressures...
Friedman and some other forecasters believe that the U.S. next year will go through an "inflationary recession." There is almost no way that the U.S. can avoid simultaneous increases in both prices and unemployment; the question is just how bad those rises will be. "Never has a U.S. inflation of the present intensity?5% to 6% a year?been controlled without a recession," says Economist Beryl