Word: monetarist
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...Members of TIME's Board of Economists expect a simmering down of growth during the final months of 1977 and throughout '78. David Grove, IBM's chief economist, expects declining growth rates-to 4.7% in the third quarter and 4.1% in the fourth. Beryl Sprinkel, a monetarist and executive vice president of Chicago's Harris Trust & Savings Bank, expects about a 3.5% growth rate in the last part of 1977. For next year the majority of the Board anticipates similar modest growth, which certainly would not be great, but also not bad for a mature economy...
Died. Harry Gordon Johnson, 53, Keynesian economist and professor at the University of Chicago and the Graduate Institute of International Studies in Switzerland; after a long illness; in Geneva. An expert on international finance, Johnson frequently attacked the monetarist school of economists. He believed unemployment was a greater social problem than inflation and at times espoused both devaluation of the dollar and a guaranteed minimum income...
Boss's Shadow. Gramley, who taught economics at the University of Maryland while Schultze was also on the faculty, describes himself as a "middle of the road, pragmatic, liberal economist." Despite his years at the Federal Reserve, he says "I am definitely not a monetarist [one who places prime importance on money supply]. The growth rate of the money supply is not the beginning and end of economics." He is regarded as one of Washington's best at economic forecasting, a field he will specialize in at the CEA. Nordhaus, bearded and bespectacled, calls himself "an economic theorist...
...should be permanent. Such cuts, says Weidenbaum, would "serve as a useful restraint" on proponents of "vast new expenditure programs." At the same time, he says, permanent cuts would encourage consumers to spend more money over the long run because they would have more money to keep. Monetarist Sprinkel concurs, but questions what real good any tax cut will do. "We have a $1.8 trillion economy," he says. "If anybody thinks a $10 billion or $12 billion change in taxes will be effective, he believes something that I don't believe...
...Chicago's feisty Milton Friedman pronounced himself "happy and pleased." But, he added with characteristic bluntness, "it is not the pinnacle of my career. The true judges of my work are today's economists. " Brooklyn-born Friedman, 64, leader of the so-called Chicago School of monetarist economics, thus became the sixth American to win or share the tax-free $ 160,000 award since the prize in economics was established eight years...