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brown and white vol s3 - no 35 bethlehem pa friday february 25 1972 866-0331 -.-. . . . -. - t,.-..-.-.-.-.--x-xx-:-:-x-:-:-:-x berman lecturer okun asks economic reform by john kluscik in order to bring the economy back into balance without intolerable inflation or unemployment dr arthur m okun former economic adviser to president johnson and this year's berman lecturer proposed a system of voluntary wage and price guidelines institutional reforms and new manpower policies for the nation in his address thursday night capping economics week at the university while endorsing the use of fiscal policy government manipulation of the con sumers willingness to spend asa solution to the short term problems of inflation and unemployment he stated that the biggest economic issue of the next few years will be how we can program our economic course for the long run his proposal for the long run includes voluntary wage and price guidelines similar to those employed during the kennedy administration unlike the vol untary guidelines of the last decade okun's new restraints would be monitored by a wage and price board such like the present board and not by the presi dent's office as was the case under kennedy the structure of government and the legislative process in many instances encourages inflation said okun and he advocated breaking down the barriers to price reductions through institutional reform government agencies which set floor prices but not ceilings encourage inflation as do the special interest groups which influence legislation he said to combat unemployment okun called for the continued development of national manpower policies in order to more efficiently match jobs with the available work force and reduce the effects of frictional unemployment okun a member of time magazine's board of economists suggested that a tax cut of perhaps 100 per family would make itself felt in stimulating the economy and finding its way into the market " for an economy with the blahs this is good medicine he said tax cuts and easier credit would help the nation out of the present economic doldrums he said in evaluating the economic performance of the nixon administration he recognized that the president inherited an inflation having tremendous momentum and gave the president credit for changing his economic stance on wage and price controls before it was too late the economic performance of the last few years has been dismal he said and although he expects unemployment to continue virtually unchanged he stated that there are signs that would indicate we wil 1 be doing better in 1972 the president's action came too late to make 1972 a very good year he said but it will be a better year the pay board is making a start said okun although he could not agree with some of their individual decisions he stated that the wage and price board is not playing favorites between business and labor and has made some progress in the non-union industries addressing the charge that the controls are less than fair okun stated that . b&w photo by rothkoph arthur m okun campus tv station planned for fall by scott penniman station to aid communication my personal goal is to use the medium as a community building device said dr william newman assistant professor of psychology referring to a university television station now being constructed for use next semester newman said he hoped the station would serve to aid student continuity by providing an oppor tunity for students to generate ideas the station which will broadcast exclusively to the university through cables is being funded by bits and pieces according to newman by util izing volunteer student electrical engineers grants and the friday night movie series profits newman said he has constructed the station at a cost of " next to nothing to the university he ommented that by funding the project independently of the university he has avoided difficulties in getting wrapped up in bureaucracy programming newman said will be multipurpose controlled aside from en tertainment possibilities he saw the opportunity for student advertisements faculty interviews departmental and educational uses and messages from the administration to the student body newman hopes to train several student crews to run the station there is he said the possibility of a production oriented course by next semester he added that an instructor for the course is being sought newman cited another opportunity for education in a program called the national center for experiments in television a federally funded operation offering free training to those interested in television expansion is not a goal of the new station newman said he hoped to keep the oper ation on campus once you try to serve a mass audience you become locked-in in your programming he explained that by limiting his audience to the campus he could broadcast shows of interest only to that group he added that the station will not become locked-in on one area of the campus but will be available to all with a purpose to use it newman suggested that students inter ested in the programming aspect of the station contact andy wright committees newman said will be set up to determine programming and student participation is welcomed in this area dr william newman b&w photo by laico economics week prof j richard aronson presides over panel discussion see related stories pages 1,4 and 5 johnson aide puzzled by economic situation dr arthur m okun leading economics forecaster and former advisor to pres ident johnson spoke at a news conference thursday afternoon prior to his lecture the news conference will be aired by wlvt-tv channel 39 at 10 p.m on friday march 3 when asked numerous questions con cerning president nixon's current economic policies especially the wage and price controls okun commented that he likes economic policy making much better as a spectator sport okun said that it is still question able whether controls are good in theory but in this case they certainly are good practically with the wage and price controls we may have gotten more than we needed but it was better than nothing the five percent wage increase ceiling takes many employers off the hook for limiting wages the pay board is beginning to exert some downward effects but the price board is spending their time fussing with little things okun thinks the fact that unemployment and infla tion are both still high is a fact that puzzles many economists claimed okun the only possible explanation for this is that the inflation has momentum everyone considers an equitable annual wage increase to be at least seven percent okun insists that full em ployment 96 percent is still obtainable see nixon page 4 see unemployment page 4
Object Description
Title | Brown and White Vol. 83 no. 35 |
Date | 1972-02-25 |
Month | 02 |
Day | 25 |
Year | 1972 |
Type | Newspaper |
DPIX | 400 |
DPIY | 400 |
Source Repository | Lehigh University |
Coverage | United States, Pennsylvania, Lehigh, South Bethlehem |
LCCN | 07019854 |
Source Repository Code | PBL |
Digital Responsible Institution | Lehigh University |
Digital Responsible Institution Code | PBL |
Issue/Edition Pattern | Semiweekly |
Title Essay | Published twice a week during the college year by the students of Lehigh University |
Description
Title | Brown and White Vol. 83 no. 35 |
Date | 1972-02-25 |
Month | 02 |
Day | 25 |
Year | 1972 |
Page | 1 |
Type | Page |
DPIX | 400 |
DPIY | 400 |
FileSizeK | 2650489 Bytes |
FileName | 19720225_001.jp2 |
Source Repository | Lehigh University |
Coverage | United States, Pennsylvania, Lehigh, South Bethlehem |
LCCN | 07019854 |
Source Repository Code | PBL |
Digital Responsible Institution | Lehigh University |
Digital Responsible Institution Code | PBL |
Issue/Edition Pattern | Semiweekly |
Title Essay | Published twice a week during the college year by the students of Lehigh University |
FullText | brown and white vol s3 - no 35 bethlehem pa friday february 25 1972 866-0331 -.-. . . . -. - t,.-..-.-.-.-.--x-xx-:-:-x-:-:-:-x berman lecturer okun asks economic reform by john kluscik in order to bring the economy back into balance without intolerable inflation or unemployment dr arthur m okun former economic adviser to president johnson and this year's berman lecturer proposed a system of voluntary wage and price guidelines institutional reforms and new manpower policies for the nation in his address thursday night capping economics week at the university while endorsing the use of fiscal policy government manipulation of the con sumers willingness to spend asa solution to the short term problems of inflation and unemployment he stated that the biggest economic issue of the next few years will be how we can program our economic course for the long run his proposal for the long run includes voluntary wage and price guidelines similar to those employed during the kennedy administration unlike the vol untary guidelines of the last decade okun's new restraints would be monitored by a wage and price board such like the present board and not by the presi dent's office as was the case under kennedy the structure of government and the legislative process in many instances encourages inflation said okun and he advocated breaking down the barriers to price reductions through institutional reform government agencies which set floor prices but not ceilings encourage inflation as do the special interest groups which influence legislation he said to combat unemployment okun called for the continued development of national manpower policies in order to more efficiently match jobs with the available work force and reduce the effects of frictional unemployment okun a member of time magazine's board of economists suggested that a tax cut of perhaps 100 per family would make itself felt in stimulating the economy and finding its way into the market " for an economy with the blahs this is good medicine he said tax cuts and easier credit would help the nation out of the present economic doldrums he said in evaluating the economic performance of the nixon administration he recognized that the president inherited an inflation having tremendous momentum and gave the president credit for changing his economic stance on wage and price controls before it was too late the economic performance of the last few years has been dismal he said and although he expects unemployment to continue virtually unchanged he stated that there are signs that would indicate we wil 1 be doing better in 1972 the president's action came too late to make 1972 a very good year he said but it will be a better year the pay board is making a start said okun although he could not agree with some of their individual decisions he stated that the wage and price board is not playing favorites between business and labor and has made some progress in the non-union industries addressing the charge that the controls are less than fair okun stated that . b&w photo by rothkoph arthur m okun campus tv station planned for fall by scott penniman station to aid communication my personal goal is to use the medium as a community building device said dr william newman assistant professor of psychology referring to a university television station now being constructed for use next semester newman said he hoped the station would serve to aid student continuity by providing an oppor tunity for students to generate ideas the station which will broadcast exclusively to the university through cables is being funded by bits and pieces according to newman by util izing volunteer student electrical engineers grants and the friday night movie series profits newman said he has constructed the station at a cost of " next to nothing to the university he ommented that by funding the project independently of the university he has avoided difficulties in getting wrapped up in bureaucracy programming newman said will be multipurpose controlled aside from en tertainment possibilities he saw the opportunity for student advertisements faculty interviews departmental and educational uses and messages from the administration to the student body newman hopes to train several student crews to run the station there is he said the possibility of a production oriented course by next semester he added that an instructor for the course is being sought newman cited another opportunity for education in a program called the national center for experiments in television a federally funded operation offering free training to those interested in television expansion is not a goal of the new station newman said he hoped to keep the oper ation on campus once you try to serve a mass audience you become locked-in in your programming he explained that by limiting his audience to the campus he could broadcast shows of interest only to that group he added that the station will not become locked-in on one area of the campus but will be available to all with a purpose to use it newman suggested that students inter ested in the programming aspect of the station contact andy wright committees newman said will be set up to determine programming and student participation is welcomed in this area dr william newman b&w photo by laico economics week prof j richard aronson presides over panel discussion see related stories pages 1,4 and 5 johnson aide puzzled by economic situation dr arthur m okun leading economics forecaster and former advisor to pres ident johnson spoke at a news conference thursday afternoon prior to his lecture the news conference will be aired by wlvt-tv channel 39 at 10 p.m on friday march 3 when asked numerous questions con cerning president nixon's current economic policies especially the wage and price controls okun commented that he likes economic policy making much better as a spectator sport okun said that it is still question able whether controls are good in theory but in this case they certainly are good practically with the wage and price controls we may have gotten more than we needed but it was better than nothing the five percent wage increase ceiling takes many employers off the hook for limiting wages the pay board is beginning to exert some downward effects but the price board is spending their time fussing with little things okun thinks the fact that unemployment and infla tion are both still high is a fact that puzzles many economists claimed okun the only possible explanation for this is that the inflation has momentum everyone considers an equitable annual wage increase to be at least seven percent okun insists that full em ployment 96 percent is still obtainable see nixon page 4 see unemployment page 4 |
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