Word: okun
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Sleeping Giant. Assuming no change in Washington policy, members of the Board of Economists see small reason to expect a speedup soon. Despite much talk of expansionary federal budget policy, they find that Government tax and spending programs are not very stimulating. Arthur Okun pointed out that the major force in the recovery so far has been a jump in home building from an annual rate of 1.1 million starts in January 1970 to 1.9 million recently...
...trillion-dollar economy, which takes a long time to slow down from an inflationary boom and may be equally sluggish in responding to expansionary Government policies-such as the $16.4 billion increase in federal spending, to $229.2 billion, that Nixon has budgeted for fiscal 1972. In Arthur Okun's view, the economy is "stuck in the mud," though it is "the mud along an ascending path." Said Okun: "I cannot see unemployment going down without an improvement in consumer confidence, and I cannot convince myself that there is going to be a strong improvement in consumer confidence unless...
...ARTHUR OKUN, a senior fellow of Brookings Institution and former chairman (1968) of the Council of Economic Advisers...
...have a sick economy." The unwelcome combination of recession and inflation is also spreading doubts about Friedman among businessmen, politicians and economists. Many complain that Friedman's monetarist philosophy oversimplifies the complexities of the world's largest economy. That philosophy appealed to the Nixon Administration, says Arthur Okun, who was chairman of the President's Council of Economic Advisers under Lyndon Johnson, because "it meant the less economic policy the better...
Only in popular music did the romantic strain run unabashed. In Milt Okun's Great Songs of the Sixties, almost every number exerts a romantic appeal. To be sure, there are no moony love numbers. But there are long glances at the rear-view mirror (Yesterday; It Was a Very Good Year; Those Were the Days; Try to Remember), hymns to individuality in a societal crush (Little Boxes; We Shall Overcome; The Times They Are A-Changin'), and?most surprisingly in a secular era?a strong, if unspecific theology: Bridge Over Troubled Water; The Weight; Turn! Turn! Turn!. It continues...