Word: indirection
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Dates: during 1950-1950
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While there is debate on whether inflation control or production encouragement is the number one goal, everyone agrees that economic controls are the means to the end. And there is also complete agreement that the current policy of "indirect controls" is the right policy to follow...
Professor Galbraith, who in the last war was a deputy price administrator and who still keeps in close touch with Washington, favors strong indirect controls today, built around high taxation. Backing current Administration policy, he points out that high taxes can and should cover all the increased governmental spending, thus wiping out the inflationary effects of the war expenditures, And he feels profits will be high enough to encourage heavy production...
...Federal Reserve Board, and notably Board Member M. S. Szymczak, thinks that indirect controls, if wisely and quickly used, can do the job. Szymczak, long a spokesman for moderation in Government attempts to control the economy, said: "The more we can accomplish by means of monetary, credit and fiscal policies . . . the less need there will be for the authoritarian harness of rationing and other direct controls...
...profiles, well-considered book reviews, and items for "The Talk of the Town" section. At 36, he is starting later than a lot of this year's first novelists, but evidently not because he has wasted time. In The Trouble of One House, his storytelling method, an indirect, impressionistic one with something of the quality of Virginia Woolf's, takes him precisely where he wants...
...indirect free kick was called against Harvard 12 feet from the goal mouth as goalie Craven was charged with taking five steps before clearing a shot. Penn's Colquhoun made the penalty good, closing the margin to one goal...