Word: professional
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Dates: during 1970-1979
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That heresy shakes the almost reverential respect accorded by the profession to Britain's late John Maynard Keynes, the century's most influential economist. The belief of Keynes's disciples that governments often could manage economic affairs as efficiently and effectively as free markets themselves has been rejected by the...
The new group represents what might be termed the rubber band school of economics?what the profession itself calls "elasticity." The sensible notion is that people respond to the specific incentives of price and supply and that, given the right incentives, the market itself is better equipped than the Government...
MICHAEL BOSKIN, 33. When he was an undergraduate at Berkeley in the 1960s, Boskin remembers, the young were radicals and the older people conservatives. In his profession now, he finds the alignments almost exactly reversed-because of the disillusionment of the students of yesterday. Says he: "The older generation held...
RUDIGER DORNBUSCH, 37. While the Keynesians can flaunt the master's classic, General Theory, and the monetarists can flourish Milton Friedman's A Monetary History of the United States, the closest that the new economists have to such a tome is a 651-page text, Macroeconomics, by Dornbusch...
In the past, most nurses got their training in hospital-based schools. After three years, they received diplomas and proudly wore caps emblematic of their schools. Today, as the profession attempts to upgrade itself, more and more nurses are in the classroom rather than the ward, pursuing either two-year...