Word: nomics
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Thanks to the nation's miraculous eco nomic boom. West Germans today are more concerned with paychecks than with princely comings and goings. But the country's economic and social transformation has failed notably to produce a unified, national Fuhrungsschicht (leadership layer) in place of the old aristocratic ruling caste. The result is a confused and confusing society in which, says Sociologist Ralf Dahrendorf, there is not one class of Prominenz but "a multitude of competing groups." The "pyramids of power" include the church, the military, local government and such venerable universities as Tubingen, Gottingen and Heidelberg, where...
...Question. The proponents of quick tax cuts to get the economy moving were powerfully backed up by expert eco nomic opinion. Fortnight ago, three dozen highly regarded economists from outside Government assembled in Washington to discuss tax reductions with Treasury Secretary Douglas Dillon and his top officials. The economists agreed to a man that the state of the economy demanded them -not next year, but as soon as possible. Says University of California Economist Neil H. Jacoby: "There is general agreement among economists that federal tax rates must come down. The big question is whether there will ever...
...myth; but neither is it a bold new notion for the '60s that deficits can have a beneficial effect in times of economic downturn. Liberal economists have long held that theory. Nobody claims that lack of confidence in the Administration is the sole cause of the current eco nomic difficulties. But investment decisions do depend on estimates of the future -and the Administration's performance so far has not given businessmen a very bright vision of the future...
...presence at the meeting might well boost one U.S. goal-to convince Latin America's conservatives that the time has come for real social and eco nomic reform. Open opposition to the aims of Kennedy's Alliance for Progress is scarce, but wealthy landowners in many Latin countries assume that talk of reform must apply to someone else. In Guatemala, opposition by coffee growers and businessmen has managed to kill Conservative President Manuel Ydigoras Fuentes' attempts to initiate a much-needed income tax. In El Salvador, where the contrast between the barefoot poor and the well-manored...
...Easter week, auto sales for March up 15%. Of the twelve leading indexes, e.g., raw-material prices, that the National Bureau of Economic Research uses to measure the business cycle, nine have already turned upward. Said Walter Heller, chief of the President's Council of Eco nomic Advisers: "We assume that the leveling-off is near at hand. But that's the beginning, not the end of our problem. All along, we have felt that the performance of the economy during the recovery phase will determine whether we can get the economy back to full production...