Word: steins
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Dates: during 1970-1979
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Treasury Secretary George Shultz and Herbert Stein, chairman of the Council of Economic Advisers, cling to the fragile hope that consumers will simply refuse to buy costlier foods and thus slow price rises soon. Portents are not good, partly because of the sharp slowdown in beef production, which remains under freeze until Sept...
...pages. Stein...
...effects of inflation, the real rate of growth in the gross national product was only 2.6%-down steeply from more than 8% in each of the two preceding quarters. The 2.6% figure was the lowest since the final quarter of 1970, when the economy was in recession. Herbert Stein, chairman of the President's Council of Economic Advisers, simply does not believe his eyes...
...there is growing doubt that the President's present economic team, led by Shultz, CEA Chairman Herbert Stein and COLC Director John Dunlop, can deal effectively with the difficult problems ahead. Says Economist Pierre Rinfret, a Republican and an influential adviser to Nixon: "Shultz and Stein are incompetent. They are a disaster. All they have demonstrated is the ability to lurch from one short-term solution to another." The assessment is overly harsh, but it does reflect a wide frustration inside and outside the Administration with repeated failures to bring the economy into line. Phase IV could well...
...equality with men. The report noted that a woman's pay averages only two-thirds of a man's wages in equivalent job categories, but the CEA was unable to say how much of the discrepancy was due to outright discrimination. Last week CEA Chairman Herbert Stein revealed that recent studies show women get 10% to 20% less pay simply because they are women. With that, Economist Paul Samuelson advised women to exert more pressure, and suggested to employers: "Try not discriminating-you may like...