The Economy: Assessing the New Program

THERE is a little joke going around in economic circles that at the time Henry Kissinger secretly went to China, Democratic Economist Arthur Okun was slipped into the White House by the back door and in disguise. His mission: to talk President Nixon into changing policy on inflation, jobs and the dollar. Indeed, the President's new package contains many ideas long advocated by Okun and the eight other members of TIME's Board of Economists. The board cheers Nixon's new activism. "It's a triumph in common sense," says Otto Eckstein. Walter Heller agrees. "It's a historic initiative. The economic world will never...

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