Word: thurow
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Dates: during 1970-1979
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...LESTER THUROW, 41. A liberal who remains a moderate Keynesian, Thurow favors tax reductions to fight economic slump. To combat inflation, he opposes inducing a recession or putting on wage and price controls, both of which he considers unfair. Instead, Thurow, who is an M.I.T. professor, advocates removing Government price props, such as subsidies and tariffs...
Protectionism is the heart of the productivity problem, he believes, because resources are blocked from moving from sluggish industries to more productive ones. He favors pulling investments out of "sunset" industries and allowing them to go under, while providing generous aid and retraining programs to laid-off workers. Says Thurow: "If we cannot learn to disinvest, we cannot compete in the modern growth race...
Instead, M.I.T. Economist Lester Thurow proposes that the Government reduce the size of the proposed tax cut from $25 billion to $15 billion and use the $10 billion differential for direct subsidles to companies that hire and train unskilled youth. Thurow's program has the virtue of concentrating on the trouble areas without pumping up the whole economy and fanning inflation...
...employment proposals by Thurow and Feldstein have much the same problem as TIP; they would be hard to administer. There also would be serious difficulties in defining who was qualified to receive the job subsidy and in guarding against fraud. The plans have run into stiff opposition from union leaders, who fear that federal subsidy for young workers would tempt companies to lay off older, more experienced hands in favor of hiring the cheaper young...
Jack Anderson--Emerson Hall at 8:30 p.m. Lester Thurow--Emerson 305 at 8:30 The Biblical Rationale for the Commandments--Science Center A at 8 Aaron Copland and Leo Cmit--Kirkland...