Word: samuelson
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Dates: during 1960-1969
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Pechman shares honors in influence with Paul Samuelson, 49, M.I.T.'s globe-hopping author of a bestselling university economics text and a close adviser to Johnson-as he had been to Kennedy...
...foreign countries. M.I.T.'s highly regarded Paul Rosenstein-Rodan helped draw up the industry-priming development scheme for southern Italy (main feature: tax breaks for new industries), and is a regular consultant to the Alliance for Progress. Students around the world learn the fundamentals of economics from Paul Samuelson, another M.I.T. professor, whose textbook, Economics, is a standard in at least ten languages. The chief U.S. representative to the Alianza, Walt W. Rostow, is better known abroad for his Stages of Economic Growth, a do-it-yourself guide to economic development that is gospel for many leaders of underdeveloped...
...increases when private investment falters, and slowing them when business spending jumps-as it is doing now. The Government has given business more expansion capital by liberalizing depreciation allowances, putting through tax credits for industrial expansion, and passing the $11.5 billion tax cut. Says M.I.T. Economist Paul Samuelson: "The business cycle is doomed, thanks chiefly to the Government...
Treasury Secretary Douglas Dillon, Presidential Economist Walter Heller and M.I.T. Economist Paul Samuelson lately have taken up the argument that Martin and his colleagues unwisely tightened money before the last recession. Attacking the system's penchant for secrecy, such Democrats as Wisconsin Senator William Proxmire complain that trying to find out why and how the Federal Reserve makes its decisions is like "trying to paste a custard pie on a wall." To make the Federal Reserve more dependent upon the President and upon Congress' easy-money advocates, Patman is sponsoring bills that would: >End its authority...
...Samuelson's text was first published in 1948. Since then it has gone through five editions and over one million copies. A new edition is planned for this spring...