Word: samuelson
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Dates: during 1960-1969
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M.I.T.'s Paul Samuelson, a leading Keynesian economist, has complained that Friedman's students are "brainwashed" because they cannot stand up to their teacher in classroom discussion. But nobody questions Friedman's popularity on the campus; in addition to his 30 regular students, another 100 drop in to his classes to listen. Some of Friedman's followers do take too literally the ideas that Friedman states in extreme form partly for shock value. "That is an effective device to get people's attention," Friedman admits. It also adds zest to economic dialogue. Samuelson says: "To keep the fish that they...
...affair is something of an embarrassment to Governor Don Samuelson, who was elected on a promise to "run the state like a business." What is particularly embarrassing is the fact that only after seven years and six separate audits did anyone notice anything amiss. "It was done very cleverly," said State Highway Engineer Ellis Mathes. "On the surface, the vouchers and everything looked very normal." Attorney General Robert Robson said that Turner had invented his own company name (The B.G.O. Investment Co.) and systematically diverted highway funds by means of 40 separate warrants ranging from about...
...feisty Observer has plenty of critics, mostly officials it has attacked. Republican Governor Don Samuelson, with whom Day disagrees on almost everything, claims that the paper tries to "get people emotionally disturbed rather than present facts." Sheriff Paul Bright, who has been assailed by the Observer for efforts to close such movies as I, a Woman and Candy, vainly sought a warrant to arrest Day when the paper published some four-letter words used by S.D.S. Founder Tom Hayden at the University of Idaho, even though the speech was also televised. The prosecuting attorney ruled that the one incident showed...
Wall Street, and much of the American business community, favors what Economist Paul A. Samuelson calls a "dovish-bullish syndrome"-which conjures up visions of a hybrid creature with wings, hooves and horns. Recent history shows that peace pays. World War II and Korea were followed not by the depressions that had been predicted, but only by mild recessions that were soon erased by new bursts of prosperity. A stand-down in Viet Nam would help both to cool inflation and to open new opportunities for dealing with some of the social ills that hurt the nation and its economy...
What other policies? Beyond the classic tools of high taxes, tight money, steep interest rates and restraint on Government spending, the most direct way to fight inflation without increasing unemployment would be outright federal controls on wages and prices. Paul A. Samuelson of M.I.T., a liberal economist, says that controls should be "saved for emergencies"; most officials shudder at their use under any. circumstances. In a letter to the Washington Post last week, Harvard's John Kenneth Galbraith argued for revival of the Johnson Administration's voluntary wage-price guideposts, "or something similar." Yet, as Johnson learned, such...