Word: otto
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Dates: during 1970-1979
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Today, the Bureau of Labor Statistics estimates, a 6% increase in steel-mill products drives up the Wholesale Price Index in the following month by only one-tenth of a percentage point. Otto Eckstein, a member of TIME's Board of Economists, believes increases in the wages of public employees, energy prices, "maybe even the Russian wheat sale" are more inflationary than steel boosts...
...October another culprit surfaced: budget watchers discovered that the Government had not spent $9 billion to $16 billion that it had been authorized to shell out during 1976. The economy was robbed of that much spending power and slowed all the more. Harvard Professor and Board of Economists member Otto Eckstein estimates that total federal purchases will rise less than 1% during 1976, hardly enough to promote robust growth...
...Board of Economists worry that, in grappling with this and other economic problems, Carter and his advisers will focus too much attention on 1977, too little on what follows. A stimulus of any kind takes time to filter through the economy and become effective. The job, says Otto Eckstein, is not to pump up the 1977 figures as much as possible but "to create an underpinning for business and households for a better four years." The coming year, however, is the time when a speedup must at least begin...
...crash course in "How to be a Congressman" featured some of Harvard's biggest names as instructors. Government and Politics Professors Stanley H. Hoffman and Graham T. Allison led discussions of foreign policy earlier this week, and Otto Eckstein will repeat his Ec 10 routine this morning in a brief seminar on economic forecasting...
...Otto Eckstein, Warburg Professor of Economics, said a tax reduction of some sort is the quickest way to get the nation out of its current economic stall...