Word: samuelson
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Dates: during 1970-1979
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...inflation when well over half that inflation traces its lineage to the tankered waters of the Persian Gulf. If OPEC intends further price hikes--as it apparently does--then to make headway against inflation Volcker will have to squeeze America's economic arteries tight enough to cause gangrene. Paul Samuelson, Ec 10's law-giver, calls this "sadism...
...vantage point of Capitol Hill. The Journal has a relatively large staff of twelve full-time reporters and five contributing editors. With a generous two to three weeks to work on projects, they often beat their capital colleagues to important but not so obvious stories. Staff Correspondent Robert J. Samuelson's examination last year of the growing impact of the elderly on the federal budget, for instance, touched off a wave of similar articles in the general press and this year won a prestigious National Magazine Award...
President Carter, Israeli Prime Minister Menachem Begin and Egyptian President Anwar Sadat announced their "framework for peace" the night before classes began. The close to a thousand students who flocked the next day to Economics 10, "Principles of Economics," found a different textbook. The course dropped the Samuelson "Bible" in favor of Lipsey and Steiner's "Economics...
...handful of witnesses before the committee were divided. Nobel Laureate Paul Samuelson, a leading liberal economist from M.I.T., argued that a budget-balancing amendment would be "suicidal [because] economics is so inexact a science and the future is so unpredictable." Conservative Economist Arthur Burns, the former chairman of the Federal Reserve Board, counseled Congress to enact a law requiring a balanced budget "and then, if it works well, take the constitutional route." Another conservative, Alan Greenspan, former chairman of the Council of Economic Advisers, "with great reluctance" conceded that some form of amendment is "the only way in which...
...Paul Samuelson, 63, economist, Belmont, Mass. He points to studies going back to the 1920s to show that "putting money out at the shortest intervals has been the best hedge against inflation." So Samuelson recommends that investors place their cash in six-month certificates of deposit in savings banks; or in the money-market funds-open-ended mutual funds that invest in short-term securities such as certificates of deposit, commercial paper and Treasury bills-that offer check-writing privileges...