Word: samuelson
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...actually Kennedy's closest economic adviser-and stands a good chance of remaining so in Washington-is M.I.T. Professor Paul A. Samuelson, 45, who is considered by colleagues to be both sound and brilliant in his economic thinking. Samuelson has watched closely and written lucidly about the U.S. economy, considers himself "the last of the generalists." His widely used textbook, Economics, An Introductory Analysis, is the bestselling (1,000,000 copies) economic textbook of all time...
Recession Talk. But the rosy talk of boom on top of boom also brought out some doubters. Vice President William F. Butler of the Chase Manhattan Bank told the committee that "one would look for another recession starting some time in 1961." From Professor Paul A. Samuelson of Massachusetts Institute of Technology came the warning of "a slowing down of the rate of expansion in the last half of 1960, with a downturn to follow some time in 1961." The idea of a 1961 recession, based on postwar economic cycles, is not new, but it is also based on economic...
Economics 1, with the greatest enrollment of any College course is a case in point. Using a popular text-book by MIT's Paul A. Samuelson, the course lays great stress on Federal fiscal policy (e.g. "countercyclical spending" by the national government to help offset periodic business slumps). Lecturers include Seymour Harris, Chairman of the Department and John Kenneth Galbraith, author of The Affluent Society...
Economics 1, with the greatest enrollment of any College course is a case in point. Using a popular text-book by M.I.T.'s Paul A. Samuelson, the course lays great stress on Federal fiscal policy (e.g. "countercyclical spending" by the national government to help offset periodic business slumps). Lecturers include Seymour Harris, Chairman of the Department and John Kenneth Galbraith, author of The Affluent Society...
Although he indicated that there is no sure-fire solution to the "worst post-war recession," Samuelson said that a sizable tax cut and increased governmental expenditures should be attempted. This added governmental spending should be in areas which could use more financing, such as national defense, civil defense, and schools, highways, and post offices, rather than on projects designed for the sole purpose of spending, he added...