Page Six
THE MICHIGAN DAILY
Wednesday, November 19, 1969
Page Six THE MICHIGAN DAILY Wednesday, November 1 9, 1969
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McCRACKEN REPORT:
Economy responds to controls
"Don't be intimidated by foreign cookery. Tomatoes and oregano make it Italian;
wine and tarragon make it French. Sour cream makes it Russian; lemon and cinna-
mon make it Greek. Soy sauce makes it good. Now you are an International Cook...
Just because you have four chairs, six plates, and three cups is no reason why you
can't invite twelve people to dinner."
THE CENTICORE BOOKSHOP AND UNIVERSITY TOWERS
INVITE YOU TO AN AUTOGRAPHING PARTY FOR
ALICE MAY BROCK
TO HONOR THE PUBLICATION OF
"ALICE'S RESTAURANT COOKBOOK"
There really is an Alice! You've heard Arlo Guthrie's record, you've seen the film,
now meet Alice Brock herself on Thursday in the Main Lounge of University
Towers. We'll play Arlo's recording of his favorite recipes, and serve refreshments
of our own.
THURSDAY, NOVEMBER 20th, FOUR TO SEVEN P.M.
CENTICORE BOOKSHOP
Party in the Main Lounge, University Towers, 536 S. Forest
Restrictive monetary and fiscal
policies are beginning to cool
America's long-overheated econ-
omy, but additional measures will
be necessary for long-range con-
trol of inflation, says Paul W. Mc-
Cracken, chairman of the Presi-
dent's Council of Economic Ad-
visers.
McCracken, currently on leave
as Edmund Ezra Day University
professor of business administra-
tion acknowledges in the Novem-
b e r issue of Michigan Business
Review that it has been difficult
to halt an inflation "allowed to
run for so long - now almost foui
years."
"This long-sustained inflation
will, of course, respond to t h e
therapy of basic policies to cool
off overheated economic condi-
tions," McCracken writes.
"About that we can be com-
New Mobe
meets tonight
The local New Mobilization to
End the War in Vietnam steering
committee meets tonight to dis-
cuss December actions. New Mobe
was the sponsor of last weekend's
Washington March.
Representatives of the eight
New Mobe committees in Michi-
gan will meet within the week to
confer on December activities.
Meanwhile, t h e Moratorium
Committee is planning a round of
pletely confident. It may, how-
ever, take somewhat longer than
if we were dealing with a tem-
porary aberration on the top side
of the economy's basic growth
path," McCracken adds.
He notes that demand for out-
put tin current prices) appears
to be decelerating and that cor-
porate after-tax profits have been
. relatively flat since the turn of
the year.
"It seems probable that pres-
sures on profit margins will con-
tinue to be heavy," he writes.
. McCracken also observes that
the latest survey by the Univer-
sity Research Center reveals a
substantial decline in consumer
sentiment, which usually indi-
: cates a shift in discretionary
spending.
"Now t h i s evidence obviously
does not add up to an end of our
inflationary problems," the presi-
dential adviser cautions. Mc-'
Cracken suggests t h e following
steps which should be taken:
"First, we must now start mov-
ing into a position where we can
minimize stop-go tendencies in
our fiscal and monetary policies.'
These policies should be consis-
tent with an essentiallyd onin-
flationary growth in the demand
for output.
"For the years ahead this prob-
ably means something like a 6 per
cent per year growth path for ex-
penditures on output," McCrack-
en believes.
The country "must increase
the capability of the economy to
work toward lower levels of un-
means heavy additional emphasis
on programs for manpower train-
ing. It also means programs to
cushion the impact on individuals
from adjustments in a changing
and dynamic economy.
"This of course means a strong
unemployment compensation pro-
gram to provide income during in-
terludes of 'interrupted employ-
ment, and the administration has
placed before the Congress pro-
posals to strengthen our system
further. McCracken says t h e
President's new welfare program
will aid the situation where "(we
have) too many people seeking
jobs and jobs seeking people un-
able to find each other."
Americans "must all now be-
gin to think urgently about the
requirements of conducting o u r
own affairs in a less inflationary
environment.
"We are moving into an econ-
omic environment that inevitably
will be less congenial to the ab-
sorption of price increases - one
where t h e response to sharply
marked-up prices will increasing-
ly be sticky markets and disap-
pearing sales," McCracken pre-
dicts.
"T h i s also has relevance to
wages. The large rwage increases
we have been seeing - adjust-
.ments that have been getting larg-
er for several years - have heav-
ily reflected the wage response to
this long-sustained inflationary
environment.
"This, of course, was basically
the dereliction of government in
its management of fiscal and
monetary policies, not those busi-
nesses and unions who negotiated
these large settlements," says Me-
Cracken.
Prof. John Arthos
Arthos earns
highest '
faculty honor
University English Prof. John
Arthos has been selected by the
Research Club as next year's
Henry Russell Lecturer.
The lectureship, the highest
honor the University can bestow
on a senior faculty member, rec-
ognizes outstanding academic and
research competency.
Prof. Arthos is widely known for
his publications on Milton, Shake-
speare and Dante, on 18th century
literature, and on such recent au-
thors as Faulkner and Cummings.
He was a Fulbright research
professor at the University of
Florence in 1949 and was a fellow
of the American Council of Learn-
ed Societies in 1963. He has also
held a Guggenheim fellowship.
protests for December 12, 13 and employment without setting the
24, focusing on community activ- price-cost level on an inflationary
ity such as public vigils and ral- course.
lies. "This means many things. Itj
I,
DAILY OFFICIAL BULLETIN
MASS MEETING
TO DISCUSS PROPOSALS TO
Change
Marijuana Laws
Thursday, 8:30 P.M.
Union Conference Room 3C
SPONSORED BY YOUNG DEMOCRATS
The Daily Official Bulletin is an
official publication of The Univer-
sity of Michigan. Notices should be
sent in TYPEWRITTEN form to
3528 LSA before 2 p.m. of the day
preceding publication and by 2
p.m. Friday for Saturday and Sun-
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Student organization notices a r e
not accepted for publication. For
information, phone 764-9270.
THAT
DOG
ON
WHEELS
IS
COMING
Join The Daily
Staff
ROSE BOW L
ELTRAVEL
ARRANGEMENTS
If U-M receives the invitation to
play in the 1970 Rose Bowl, the
University, in cooperation with
I1EtNESI)Y NOVEMBlIER 19
Day Calendar
Anatomy Seminar: Dr. George H.
Lowrey, "Growti Hormones in Clinical
Peditrics"; 4804 Med. Set. II, 1:00 p.m.
Physics Colloquium: S. T. Feld, MIT,
"Quark Model of Resonances"; P & A
Colloquium Roon, 4:00 p.m.
Statistics Seminar: Prof. Marvin J.
p(arson, "A Multinominal Model with
Partially Informative Categories"; 435
Mason Hal, 4:00 p.m.
Botany Seminar: Dr. John Cairns.
Virginia Polytechnic Inst., "Factors Af-
fecting the Number of Species in Pro-
tista Communities'; Botanical Gardens,
4:10 p.m.
Center for Rtussian and East European
St udies Lecture: Zdenek Masopust,
Charles Univ., Prague, "Concepts of a
New Political1 System in Czechoslovakia,
1968"; Aud. C, Angell Hall, 4:10 p.mn.
{COntinued oni Page 7)
ORGANIZATION
NOTICES
Batch Club nmeting, Nov 20, Thursday
at 1236 Washtenaw iat S. Forest). Pro-
grain: The Goliard Brass Ensemble will
play the rPelude and Fugue in B Flat
Major, Contropunctus 1 & 9, Air in G.
plus chorales and other short pieces.
Refreshments & fun afterwards. No
musical knowledge needed. oFr info. call
663-2827, 764-9883, or 761-7356.
University Life Church Campus Cent-
er benefit, Michigan Union Ballroom.
Friday, Nov. 21, 1969 at 8:30 - 11:30 p.m.
Dance-Concert, featuring "The Floating
Opera". For more information, please
call Rev. John Memo at 769-1247.
Cniversity I.utheran Chapel, 1 5 1 1
washtenaw, Wed., Nov. 19, Student-led
Devotion, 10:00 p.m., Communion, The
Rev. A. Scheips. Officiant.
Concert Dance Organization, Nov. 18,
Tues. 7:00 p.m., Barbour Gym for
Men's Modern Dance Class . . . 8:00
p.m. for for Beginning Intermediate
Ballet. Nov. 19, Wednesday at 7:15 p.m.
for Advanced Modern Technique, Bar-
hour Gym.
UAC Film Festival, "Genesis 11", Nov.
20 & 21, 7 & 9:30 p.m. In the Natural
Science Auditorium -- program of
award twinning experimental films.
JOIN US
FOR
TWO WEEKS SKIING
IN
INNSBRUCK
AUSTRIA
$419
Includes:
" 2 Meals Daily
0 Hotel Accommodations
* Round Trip Jet
Air Fare
* 50% Discount on
T ' e Imnpy/ridae beetle family.
DC-ght of small boys. Biological
light bulb. And prime source of
raw material for another Du Pont
i nt v t r.
Luciferavc, an enzymatic protein
with intriguing properties, obtain-
able only from fireflies, Luciferin,
an organic molecule also found in
fireflies, but synthesizable. Adeno-
sine triplos/phte (ATP), a common
energy-yielding substance found in
all living cells.
Thos e are tne three main ingre-
di'n-ts in ampyridae's love light.
And because ATP is common to al
living cells, university researchers
discovered they could produce an
artificial glow by mixing luciferin
and luciferase wherever life is
present.
Noting that phenomenon, Du Pont
scientists and engineers went on
to develop it into a practical ana-
lytical system. Correlating the in-
tensity of the artificial "glow" with
the amount of ATP present in
bacteria, they designed a means of
mleasuring the reaction.
The result is the luminescence
biometer-the first really basic im-
provement in bacteria-counting
methods since the time of Louis
Pasteur. Rather than waiting days
for a culture to demonstrate growth
density, a doctor or technician can
now get a digital readout of bacteria
concentration in a matterof minutes.
Other potentially lifesaving uses
for the biometer are being sug-
gested every day-such as diagnos-
ing metabolic rates, enzyme de-
ficiencies and nerve damage.
Innovation-applying the known
to discover the unknown, inventing
new materials and putting them to
work, using research and engineer-
ing to create the ideas and products
of the future-this is the venture
Du Pont people are engaged in.
You can become one of them,
and advance professionally in your
chosen field. See your Du Pont
Recruiter. Or send us the coupon.,
SGC
will again sponsor Rose
Bowl travel arrangements for
students, faculty, and staff. Tenta-
tive planning is underway.
The University takes no respon-
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