Word: likely
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Dates: during 1960-1969
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...work stoppages, end restrictive practices and reduce price increases in construction, the nation's most flagrantly inflation-ridden industry. The highly inflated costs of medical care could be brought down if a powerful union?the American Medical Association?would permit less highly trained "paramedical" workers to perform simple functions like applying bandages and giving injections. Federal purchases could be more adroitly timed to take advantage of favorable prices. Government regulatory agencies might abolish minimum rates for freight shipments and other transportation, and permit competition to take over again. Oil-import quotas, which cost gasoline consumers at least $4 billion...
...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 privately at the many conventions...
INFLATION. Friedman challenges the popular theory that full employment and price stability are incompatible. "The belief, like most of those propositions that get widely accepted, is a half-truth," he argues. The two goals conflict over brief periods when an economy is shifting from one rate of inflation to another, he concedes. But over any period of five, ten or 20 years, says Friedman, fast economic growth and full employment can be meshed with stable prices...
REACTION to his ideas, says Milton Friedman, follows "a certain scenario." Act I: "The views of crackpots like myself are avoided." Act II: "The defenders of the orthodox faith become uncomfortable because the ideas seem to have an element of truth." Act III: "People say, 'We all know that this is an impractical and theoretically extreme view?but of course we have to look at more moderate ways to move in this direction.' " Act IV: Opponents "convert my ideas into untenable caricatures so that they can move over and occupy the ground where I formerly stood...
Carrying a Corpse. Ironies like that are easy to manufacture, and Scenarists James Poe and Robert E. Thompson operate an assembly line. Ruby tunelessly chants The Best Things in Life Are Free, then crawls for the pennies people throw her way. A Harlow-eyed blonde (Susannah York) is in the contest not for the $1,500 prize, but for a chance to be seen by a movie talent scout who might elevate her to bearable unreality. When the marathon begins to drag, Rocky dresses the participants in track suits and has them race around the floor-an event that literally...