Word: weidenbaum
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Dates: during 1970-1979
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...cure but a disease that institutionalizes inflation, added Okun. He estimates that "if all payrolls were indexed instead of the roughly 15% that are now, the consumer price index would have risen more than 20%, not 13%." Inflation is only one consequence of increasing energy costs, said Economist Murray Weidenbaum, a visiting scholar at the American Enterprise Institute. He believes that U.S. industry's reasonably successful drive to restrict energy consumption may be hurting productivity because companies are reducing the use of energy-gulping machines...
...lower today than they were at the beginning of the year. Like theologians discussing how many angels can dance on the point of a needle, economists may argue tirelessly whether there really was a recession in 1979 and when it arrived. But there are many who echo Economist Murray Weidenbaum: "A year from now we will not be debating whether or not we had a recession. It will be clear...
John Connally: The business community's favorite candidate has put together the most comprehensive program. About a dozen right-leaning economists, including Charls Walker, Murray Weidenbaum and Albert Cox, are threshing out positions for him on everything from a value added tax (he sees merit in the idea but thinks it falls too harshly on those who earn the least) to a constitutional limit on spending (only "as a last resort"). Connally favors faster write-offs for capital investment, proposes large new jolts of defense spending and wants deep, budget-wide cuts in just about everything else, basically...
...outlays for American diplomats to the battalions of inspectors employed by regulatory agencies. Moreover, whatever inflationary impact the Pentagon might have, it is relatively minor compared with that of other Government programs. Today, defense outlays are only half as much as Washington spends on social welfare programs. Says Murray Weidenbaum, a member of TIME's Board of Economists...
...MURRAY WEIDENBAUM: "I really don't have any criticism of Volcker's approach," says this visiting scholar at the conservative American Enterprise Institute. "The Fed, by and large, is the economic bastion of strength and savvy in Washington." Up to now, he says, the Federal Reserve has been following a policy of "expensive easy credit," meaning high interest rates, but free availability of funds; direct control of the money supply, he asserts, is preferable. But Weidenbaum cautions that there is "no guarantee" the new policy can bring down inflation, while in his mind it produces "more certainty...