Word: ruml
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Unlike the plans of Ruml-Sonne, the Committee for Economic Development, et al., the committee makes no guess at what the national income may be, come normal times. What it does do is set up three different budgets of $15, $18 and $22 billion based on national incomes of $115, $125 and $140 billion. Then it drafts alternative plans of raising revenue to meet the budgets in a way to provide the greatest incentive for business to make jobs and employment. The committee's idea was that federal spending must be cut, that the budget must be balanced yearly...
Many of the recommendations, as the committee was well aware, are not new. But where the committee parted company with other planners, notably Beardsley Ruml, was in insisting on a budget balanced every year rather than over the business cycle. Its chief argument was that deficit spending is a "narcotic" which, once used, is a threat of progressive inflation...
...Bureau of Labor Statistics, shows how in general the views of such laborites as Clinton S. Golden (United Steelworkers), Marion H. Hedges (Electrical Workers), James Carey (C.I.O.), David Kaplan (Teamsters), George Meany (A.F. of L.), Walter Reuther (Automobile Workers), et al., compare with those of such managers as Beardsley Ruml, H. Christian Sonhe, Charles E. Wilson...
...potent, hardheaded Committee for Economic Development this week came to the rescue of the Bretton Woods proposals. C.E.D.'s research committee-including Boston Banker Ralph E. Flanders and Tax Expert Beardsley Ruml-analyzed criticisms of the Fund and found that, so far as they were valid, they could best be met by giving the Bank power to make long term loans, when necessary, to stabilize a nation's currency. But C.E.D. declared that scrapping the Fund would be a serious loss. In short, C.E.D. came out for both Bank and Fund, with more power for the Bank...
...Economic Planner Beardsley Ruml: $140,000,000,000; 55 million jobs...