Word: whats
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Dates: during 1960-1969
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Died. Ole Singstad, 87, master tunnel builder; in Manhattan. Beginning with New York's Holland Tunnel in 1927, the Norwegian-born Singstad designed and built dozens of underwater highways, including New York's Lincoln and Brooklyn Battery tunnels, and the 1¾-mile Baltimore Harbor Tunnel. What made...
The majority of economists outside Government believe that U.S. business still has enough momentum to avoid what would be the first recession in nine years. They point to such sources of strength as record capital investment. Still, businessmen have a sense of foreboding. That anxiety has been intensified by the...
Friedman deprecates the role of his rhetoric in winning acceptance for his ideas. "People are persuaded by the evidence of experience," he says. As for his own role, he adds: "all one can hope to do is move things in the direction they ought to go. I try to be...
The other side of the coin is that if Nixon pushes anti-inflationary policies too long or too hard, the result could indeed be what most economists define as a recession: at least two successive three-month periods of no real growth in the total economy, a condition that is...
Friedman blames unknowing monetary policy in large measure for the magnitude of the Depression of the 1930s. Partly because so many banks failed between 1929 and 1933, the U.S. supply of money shrank by 33%?and that compounded a worldwide economic collapse. The Federal Reserve, which took a narrow...