Word: shultz
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Dates: during 1960-1969
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...extreme?but by the extent to which his ideas have altered the thinking of his opponents. The mixture of supreme self-confidence and good-humored needling expresses the personality that makes some of Friedman's sharpest critics consider themselves close personal friends. One admirer, Labor Secretary George Shultz, quotes a former colleague at the University of Chicago as saying: "I wish I were as sure of anything as Milton is about everything...
...painful transition" is over, he said, the Government will not allow the economy to resume its rapid rate of growth. Instead of annual increases in spending of 8%-10%, the growth will be held down, McCracken said, and "this difference should be kept firmly in mind." Labor Secretary Shultz said that the businessmen would have to face union demands without Government help, even in the case of utility or transport strikes. "We place our reliance on the free economy," he said, "so that our resolve will be tested." Nixon himself closed the meeting with a speech that asked business...
Until recently, the Administration has been monolithically united on the need for tight money. Presidential Counselor Arthur F. Burns, who is scheduled to become Federal Reserve chairman in January, said last month that "we will not budge." Simultaneously, however, Labor Secretary George Shultz began arguing for an immediate but moderate expansion of money and credit. Though he lost the argument, he soon may gain an important ally. Paul McCracken, chairman of the President's Council of Economic Advisers, believes that the severely restrictive policy has been correct so far, but now he is beginning to wonder whether the time...
...Have Bananas. Shultz is the first economist to become Secretary of Labor, a post usually assigned to lawyers. He labors hard himself, arriving at his desk at 7:30 a.m. and often returning to work in the evening, with occasional time out for tennis or golf. Once he beat A.F.L.-C.I.O. President George Meany by ten strokes (80 to 90). Son of a New York Stock Exchange official, Shultz graduated from Princeton in 1942 with an honors degree in economics. During World War II, he was a major in the Marines. He earned a Ph.D. in industrial economics at M.I.T...
...really want to be a politician," Shultz says. "Basically I regard myself as a professional person." It is perhaps that professional detachment that allowed him to refrain from intervening in a two-month strike of East Coast longshoremen last winter. On a visit to New York at the height of the strike, he made a point of ordering bananas for dessert-to show that the strike had a minimal effect on the normal flow of goods...