Word: nathanisms
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Where does recession end and depression begin? New Dealing Economist Robert Nathan defines a depression as a sharp decline that lasts a few years. A decline that lasts only six months to a year and a half could be called a recession. To Nathan, depression means 7,000,000 to 8,000,000 unemployed (v. 1,200,000 today); recession means 4,000,000 to 5,000,000 unemployed for six to 18 months. Another New-Fair Dealer, Economist Leon Keyserling, describes a recession as a "short-run downturn of moderate or even large proportions." The Commerce Department...
...stock market each fell about 20%. Unemployment rose from 6,400,000 to 9.800,000. By the standards of those earlier years, what happened in 1949 was merely a statistical flutter. Unemployment rose some 60% in a few months to 3,400,000 (not even high enough to meet Nathan's present-day definition of recession). Prices declined only slightly, industrial output dropped a mere 8%, and stock prices, after a quick 10% dip, were higher (200.52) at the end of 1949 than they were...
President and Mrs. Nathan M. Pusey will be at home at 17 Quincy Street from four to six o'clock on the first Sunday of each month, beginning November first. Members of the faculties and others holding Corporation appointments and their wives are cordially invited...
...there should be a little time in the evening to relax and look over the children's homework, Mrs. Nathan M. Pusey considers this a slack day. Since her arrival in Cambridge early in the fall each hour has been packed with obligations, either social or domestic. "At this point, our outside interest is people," Mrs. Pusey smiles...
Weekdays, Jaime, the Pusey's younger son, and Rosemary commute to Shady Hill school. Nathan Jr. is a junior at Belmont Hill, and is already thinking about picking a college. "The first thing he said when he heard about the appointment here was, 'Good, now I can go to Lawrence,'" Mrs. Pusey recalls. Nathan Jr. would prefer not to go where his father is president and the Puseys are leaving the choice of college entirely...