Word: samuelson
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There is a "better than even chance" fore recovery before the summer, said MIT economist Paul A. Samuelson But he added that any recovery would be weak because high interest rates will discourage investment...
...Samuelson also expressed concern that the efforts of the Administration and the Federal Reserve Board to keep inflation down is taking its toll on jobs, production, real income growth and the stock market...
...generation of college economics students learned that maxim from the classic textbook by Paul Samuelson. Labor unions had become so strong, the reasoning went, that they had virtually repealed the law of supply and demand as it applies to jobs and wages. Even in difficult economic times, unions would prefer to sacrifice jobs rather than relinquish hard-won gains hi salaries or benefits. During the 1973-75 recession, the worst since the Great Depression, many workers went on strike or suffered layoffs so that they would not have to give up what they won in past wage negotiations...
...shared the physics prize, was on hand; so was David Hubel, the Medical School professor who shared the prize in medicine and physiology. From New Haven came James Tobin, the laureate in economics; and from Ithaca, Cornell professor Roald Hoffmann, who shared the chemistry prize, sent regrets. Finally, Paul Samuelson, the 1970 Nobel laureate in economics, dropped by from MIT for the festivities...
...Bloembergen, Tobin, Samuelson, and, in spirit, Hoffmann, the party was something of a homecoming. All had spent three years in that yellow house at the start of their academic careers as part of a remarkable and little-known Harvard research program for extraordinarily gifted young scholars--the Society of Fellows...