Word: researchers
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Dates: during 1970-1979
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...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 accumulating research of the new economists...
...leader of the young economists is Harvard's Feldstein, a soft-spoken family man from The Bronx, whose looks and middle-class background and mannerisms call to mind a benign dentist. While most of his peers remain academically cloistered, concentrating on the higher mathematics and econometric concepts of modern research, Feldstein is at home in both academe and Government. He is equally comfortable pondering a regression equation for a computer program or testifying to a congressional committee, which he often does. Both political parties eagerly seek his counsel. He was an adviser to Jimmy Carter's '76 campaign, turned down...
REDUCED R. AND D. Spending on research and development has dropped from about 3% of G.N.P. in 1964 to 2% last year. One reason: managers have concluded that inflation makes the payoff too long-term and too uncertain. One result: the number of U.S. patents issued to Americans has fallen 25% since 1971, while the number issued to foreigners has risen...
...chapter on solar energy, written by Modesto A. Maidique, a business school assistant professor, is unabashedly bullish: "Given reasonable incentives, we believe that solar could provide between a fifth and a quarter of the nation's energy requirements by the turn of the century." The Harvard researchers have adopted the Department of Energy's extremely broad definition of solar to include not only power from the sun's rays but also hydropower and energy derived from the burning of "biomass," which includes wood, plants and other organic matter. The chapter's supposition is that rising costs...
...been on the bench for twelve years, is known for running a strict court; with 450 cases a year, he has to. "The way to irritate Moran," says the judge about himself, "is to ask for continuances." He is a one-man show: he does all his own legal research and wrestles with his hard decisions alone. "I can't bounce things off other people to help me," he says. "A judge lives a fairly lonely life." A practicing Roman Catholic, he has eight children. Child custody cases leave him drained. "We are asked to play God in these...