Nation: The President's (Incremental) Analyst

GEORGE PRATT SHULTZ, 49, named last week by President Nixon to head his powerful new Office of Management and Budget, peers through his spectacles with the donnish calm of a scholar about to address a graduate seminar. He comes by his professorial reserve quite naturally: he took a Ph.D. in industrial economics at M.I.T. and taught there for several years. Later, he served as dean of the University of Chicago Graduate School of Business until Nixon picked him to be Secretary of

Labor. The pedagogic style stays with him. At a National Press Club luncheon in Washington, for example, he began his...

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