Word: paule
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Dates: during 1960-1969
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...even the skeptics that the U.S. economy is in good hands. The Europeans wanted some indication of U.S. determination to handle its No. 1 economic problem: inflation. The Americans did not disappoint them. "If we have one objective, it is to try to cool the overheated economic situation," said Paul McCracken, chairman of the President's Council of Economic Advisers. The main priority, observed Paul A. Volcker, the Treasury's new Under Secretary for Monetary Affairs, "is to regain control over inflation." Under Secretary of State Elliot Richardson added that "we intend to intensify our efforts to restore...
...better hedge against inflation partly because buyers think that they are. Inflation has contributed to both the stock market overspeculation and Wall Street's glut of back-office paperwork. * Because of rampant inflation, unions increasingly demand unlimited cost-of-living wage increases instead of limited boosts. Complains Paul Carmichael, a Pittsburgh electrical workers' official: "The ink is hardly dry on labor contracts these days before price increases make them obsolete...
...maneuver. So does the fact that a number of companies are "stockpiling" workers because of the shortage of skills, and may be inclined to hang onto them as long as possible, even if that means some short-term loss of profits. The White House nonetheless hopes to devise what Paul Mc-Cracken calls "other kinds of public policies" to keep unemployment from rising too rapidly under the influence of anti-inflationary restraints...
What other policies? Beyond the classic tools of high taxes, tight money, steep interest rates and restraint on Government spending, the most direct way to fight inflation without increasing unemployment would be outright federal controls on wages and prices. Paul A. Samuelson of M.I.T., a liberal economist, says that controls should be "saved for emergencies"; most officials shudder at their use under any. circumstances. In a letter to the Washington Post last week, Harvard's John Kenneth Galbraith argued for revival of the Johnson Administration's voluntary wage-price guideposts, "or something similar." Yet, as Johnson learned, such...
...fourth senior is reserve center Paul Waickowski. "Wake" came off the bench to help the Crimson past Brown earlier this year and has contributed a series of key rebounds...