Word: timing
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Dates: during 1960-1969
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...Harvard, University Hall was seized for the fourth time this year. Two weeks ago, members of the Organization for Black Unity partially occupied the administration building to dramatize their demand that 20% of the construction workers on future Harvard buildings be drawn from black and other "third world" groups. Last week Harvard officials cited the fact that the nonwhite population of Cambridge is less than 10%, and called the 20% proposal "gross and seemingly illegal discrimination." Next day black students responded by preventing workers from entering a Harvard construction site, taking over the faculty club and seizing University Hall...
Married. David Ormsby Gore, 51, fifth Lord Harlech, former British Ambassador to the U.S.; and Pamela Colin, 33, stunning New York socialite and former London editor of Vogue magazine; he for the second time; in an Anglican ceremony; in London...
Milton Friedman's opinions have particular weight now because the Nixon Administration has placed great reliance on the policies that he prescribes to deal with the current inflation. Friedman was one of Richard Nixon's chief economic advisers during the election campaign. He did not seek a full-time job in Washington because "I like to be an independent operator," but his ideas are highly regarded within the Administration. "Milton Friedman has influenced my thinking," says Paul McCracken, chairman of Nixon's Council of Economic Advisers, who describes himself as "Friedmanesque." The two men often talk on the telephone, chat...
...blame inflation on the Johnson Administration, even though Lyndon Johnson's failure to ask for higher taxes in 1966 to help meet Viet Nam costs is a major source of today's problem. Some congressional Republicans believe that Nixon will arrange to relax the money squeeze well before ballot time. But at least one of the President's most trusted advisers has counseled him to risk unpopularity in 1970 and concentrate on stopping inflation before the 1972 presidential race. Any letup now, he feels, would give Nixon a politically lethal credibility gap on the issue of inflation?a gap that...
...theory generally seem as mystifying as the Mock Turtle's description in Alice in Wonderland of "the different branches of arithmetic?Ambition, Distraction, Uglification and Derision." Money supply can be measured in four ways, but Friedman prefers to use the total of currency in circulation plus checking accounts and time deposits in banks. The Federal Reserve controls the rate at which money supply grows or shrinks chiefly by buying or selling Government bonds. When the board buys bonds, it automatically raises the quantity of reserves available to banks; this increases the amount of credit that banks can extend to borrowers...