Word: wallich
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Dates: during 1960-1969
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Once having savored the heady pleasures of advising the White House on how to manage the country's economy, can an economist ever kick the habit? The answer, as supplied by Henry C. Wallich, 47, who served two years on President Eisenhower's Council of Economic Advisers, seems to be no-at any rate, not so long as the nation's press gives him a sounding board...
Although he is back on his job as professor of economics at Yale, the loss of portfolio has rendered Retired Presidential Adviser Wallich anything but mute. He regularly writes editorials on economics for the Washington Post, has articles in three current highbrow magazines: Harper's, the American Scholar, and the Yale Review. In all three, Economist Wallich hopefully beams his message at a particular reader-President John F. Kennedy. Items...
Presumably the authors of Advance (who include in this number Senator Case writing on "Course for the GOP") do care: "We are not the party of today," they say, "Let us be the party of tomorrow." But to cite their review of Henry C. Wallich's The Cost of Freedom, "nowhere" do they, "provide a definite measure of response to modern problems. Although [they] stress the importance of change and creativity, [they] fail to specify or elaborate." Why do they feel so sharply the necessity for their movement? Because liberalism is inadequate, doctrinaire, stultifying, and "monolithic." They worry that "solutions...