Word: okun
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...most discouraging aspect of rising oil prices, said Okun, is that the recession will only temporarily and modestly constrain inflation. At very best, the rate of price increases will come down to 8%. After the 1974-75 recession, inflation was 5%, which at that time was considered "intolerable, horrible and unacceptable." Indexing, which automatically raises wages and pensions along with the price index, is not a cure but a disease that institutionalizes inflation, added Okun. He estimates that "if all payrolls were indexed instead of the roughly 15% that are now, the consumer price index would have risen more than...
Edward Kennedy: Though his advisers include Keynesian luminaries Walter Heller, Joseph Pechman and Arthur Okun, Kennedy is playing down his 17-year Senate record as a liberal Big Spender and emphasizing his economic "pragmatism." Last week Mobil's outspoken public affairs vice president, Herbert Schmertz, joined the Kennedy campaign staff as a top media adviser, even though Schmertz has repeatedly condemned the Senator's attacks on the oil industry. Kennedy supports the budget-paring efforts of Carter, but he fought this year to protect social spending programs from major cuts and co-sponsored legislation for such programs...
...group that published no stands on issues but whose candidates were mostly opposed to rent control, found the same hard fact--the traditional city voting blocs, be they liberal or ethnic, are very hard to penetrate. The only candidates useful as barometers of the CCC's effectiveness are Douglas Okun and David Agee. They relied on the CCC to build a political foundation for them. Despite fairly active campaigns, the pair finished 17th and 19th in the 23-man field. The only bright spot in the CCC showing was the strong slate identity--almost all Okun and Agee votes transferred...
Brookings Institution Economist Arthur Okun has a "nightmare vision" of a major employer without company-wide unions such as IBM or Du Pont announcing some day that it was starting cost-of-living allowances in order to "keep the union organizers off their front lawns." Okun warns that if such automatic inflation pay increases spread into nonunion firms, "you can mark that on your calendar as a black day for fighting inflation...
...outsiders, not firmly aligned with either the independent or CCA camps, may also affect the balloting. David Agee and Douglas Okun don't have the ethnic and neighborhood bases that Vellucci, Danehy and their ilk draw on; their support of a "depolarized" city council may draw some votes, though, from new arrivals in the city--for the most part condo owners, who are less a part of Cambridge machine politics...