100%

Scanned image of the page. Keyboard directions: use + to zoom in, - to zoom out, arrow keys to pan inside the viewer.

Page Options

Download this Issue

Share

Something wrong?

Something wrong with this page? Report problem.

Rights / Permissions

This collection, digitized in collaboration with the Michigan Daily and the Board for Student Publications, contains materials that are protected by copyright law. Access to these materials is provided for non-profit educational and research purposes. If you use an item from this collection, it is your responsibility to consider the work's copyright status and obtain any required permission.

September 06, 1974 - Image 2

Resource type:
Text
Publication:
The Michigan Daily, 1974-09-06

Disclaimer: Computer generated plain text may have errors. Read more about this.

Page Two

I'HE MICHIGAN DAILY

. Friday, SeptemboC 6, 1974 1

Page Two I HE MICHIGAN DAILY Friday, September 6, 1974

1 0 , I 1 0 *., , . , 4' ii vi

i

SAY, "A
EvER HE<1R
E ENE AT
. ro MICHIGAN
' eArgo CouPoNgl

Economy experts urge Ford to
abandon tight money policy

It's no joke, really. The University

Theatre

Programs

is offering

a

t " ' .11
fi

f
I

rNrr.i.ir"r.rurriwrr
rrrrrrrnir.ri

book of ten tickets for just ten dol-
lars. The book entitles you to see
whatever show you wish, and sit in
whatever seat you can get at the
time you exchange each coupon for
a ticket. The coupons can be used
all at once, e.g. ten people can use
one book for one show; or the cou-
pons can be used individually.

r',JM M1

(Continued from Page 1)
fers when he said, "The Ameri-
can people ... want us to take
those actions I believe that fall
within the middle ground of the
spectrum."
Okun said that "at least half
expressed the opinion we have
reached or are rapidly ap-
proaching the time for a
change" in the tight moneyj
policy.I
THE ECONOMISTS are "not
talking about easy money,"
Okun- said, but rather about a
reduction of the restraint that
has produced record high in-'
terest rates.'
There were several distinct1
dissents to the monetary policy
relaxation, but Okun said the
"breadth of agreement ... was
striking to me."
Some of the economists urged
tax increases, others called for
tax cuts. Almost all agreed the
line should be held on federal
spending, but there was a split
on exactly where cuts should
come.
FORD OPENED the meeting
by telling the panel the Ameri-
can people want the unvarnish-
ed truth about inflation and
"they are sick and tired of
having.politics played with their
pocketbooks."
A possible indication of Ford's
approach to the nation's eco-
nomic problems came in his
spontaneous response to an

economist's suggestion that the
country needs "positive think-
ing.'
After Walter Hoadley of the
Bank of America called for up-
beat thinking to counter "a lack
of confidence in the future,"
Ford volunteered the opinion
that Americans can't indulge in
positive thinking unless they
first have the truth.
SAYING HE wanted "the un-
varnished thruth on the table"
at the meeting, the President
said he was confident the people
would respond positively if they
got it.
At the first of a dozen sessions
leading up to a Sept. 27-28 sum-
mit conference on inflation, a
consensus emerged among eco-
nomic experts that a depression
is unlikely to develop but that
output is apt to be flat, sluggish
or even down a bit over the
next 18 months.
A sizeable number of con-
ference participants represent-
ing business, finance, labor and
the academic profession--all of
them professional economists-
also called for a gradual easing
of the Federal Reserve Board's
tight money policy that has pro-
duced record-high interest rates.
MANY OF them conservatives
as well as liberals, also recom-
mended that serious considera-
tion be given to a public service
employment program in antici-
pation of an early rise in jobless-

EACH BOOK CAN BE USED FOR THE FOLLOWING POWER CENTER SHOWS:

ness. 3
At the Capitol, Senate Demo-
crats put Ford on notice that
they are ready to keep Congress.
in session for the rest of the
year to deal with the economic,
problems. At the same time,
their leaders said it is up to the
White House to make a specific
move if any action is to be
taken this year.
Ford opened the day-long
meeting in the East Room of
the White House, broadcast live
over public television and radio.
"OUR PURPOSE," he said
"is to find ways by which we,
the American people, can come
to grips with our economic dif-
ficulties and surmount them."
Declaring that "people under-
stand economics very, very well
and they are sick and tired of
having politics played with their
pocketbooks," Ford said:
"These meetings are not going
to be empty exercises in eco-
nomic rhetoric. Neither are they
going to reveal any quick mira-.
cles. There is no quick fix for
what ails our economy .
"BUT BEFORE this confer-
ence ends, I Mould like to see
and to have set before the
American people a consistent
and considered package of the
most promising answers that
you can find."
Where experts disagree on
solutions, he said, "it will be
necessary for the President and
the Congress to make some very
hard decisions."~
The President also described
UM Stylists
Open 8:30-5:15 p.m.
on.-Sat.
UM UNION

inflation as a worldwide epi-
demic. Arthur Okun, one of
Lyndon Johnson's economic ad-
visers, appeared to speak for a
majority in saying of the eco-
nomic outlook, "Recession yes,
depression emphatically no."
FORMER Treasury Secretary
George Shultz said he thought
the nation was "at or approach-
ing the point where we should
gradually ease monetary policy"
established by the Federal Re-
serve Board.
Among those who agreed were
Paul McCracken, an economic
adviser to former President
Richard Nixon; Carl Madden
of the U.S. Chamber of Com-
merce; Norma Pace of the
American Paper Institute;
David Grove of IBM, and Okun.
A number of the economists
expressed opposition to wage-
price controls or guidelines at
this time, but Robert Nathan,
a Washington economic consul-
tant, said "I think we're going
to have to have direct inter-
vention" by the federal govern-
ment, possibly including con-
trols.
HENDRICK Houthakker of
Harvard said "we cannot be
happy with the present struc-
ture" of the auto industry and
suggested government might in-
tervene perhaps through exer-
cise of its antitrust functions to
make it more competitive.
Budget restraint was generally
applauded and there was much
talk of trying to increase the
productivity of the work force.
A number of the economilsts
suggested tight money was cur-
tailing investment in expanded
Iproduction facilities.
Shultz, who left government
only a few months ago, produced
one of the relatively few' laughs
of the day when he opened his
remarks by saying:
"The economy is in terrible
shape and I wish you guys in
Sgovernment would do something
about it."

OCT. 9-12-Edmond Rostand's "CYRANO DE BERGERAC'
NOV. 27-3-Wim. Shakespeare's 'PE RICL ES'
FEB. 5-8 A new play featuring guest actors
APRIL16-19-Aristophanes' 'THE BIRDS'
The book can also be used for the University Theatre Showcase, The Killing of Sister George, No
Place To Be Somebody, The Last Days of Mrs. Lincoln, The Real Inspector Hound, The Red Lantern
(a Model Pruetarian Drama from People's Republic of China)

In addition, this book
contains discount cou-
pons for Professional
Theatre Program off-
erings.
Come into the PTP.
offices at Mendelssohn
Theatre Building and
ask about it. Or mail
the form below. Good
entertainment. Cheap

M""""""-----'-m--n-a m= "agn a aom.*.***."*".M m*..*a.ibao ..aeaan
MAIL ORDER FORM
* U
U-M Student I.D. M
r Name Phone__
R U
Address
Street city state Zi p
* Please Make Checks Payable to U of M (Llmit-2 Books)
Mail To: Univ. Theatre Programs No. of Bookss
* Mendelssohn Theatre
Ann Arbor, Michigon 48104 Price eachs
Plays, Schedules Subject to Change Total
* ~Setampd
E Self addressed F~old at thej
SEanvelopeEo dor Office 3
* Signature 0 El
.m..emumininm mmean mnonmmmmsoma smmmomu. sus.. mmea.... am

HOUSE
OF :
IMPORTS
20% OFF
HANDMADE
SHEEPSKIN COATS'
TAPESTRIES
BEDSPREADS
^ JEWELRY
PIPES
And More
- 320 E. LIBERTY ST., ANN ARBOR
769-8555 OPEN 6 DAYS A WEEK
~320E.LIERTYST.ANNARBO

10-25% Savings.
TEE DKI
AND
Mon.-Wed. 10-6, Thurs.- Fri. 10-8:30, Sat. 10-5:30

i

price.
times.

Just like old

Centicore Centicore Centicore Centicore Centicore
Cenicore Bookshops Inc. BOOK SALE ORIGINAL GRAPHICS
CENTICORE Always has 100's of Books on Sale. Titles OF THE 19TH 6' 20TH CENTURIES
Change Constantly. See Our Large Outdoor Sale Plaza. These prints are all original. some
At 336 Maynard Street you will find the best bookstore in the Mid- Books Formerly Priced at $6.95 to $175.00, Now Sell- Bonnard Kandinsky esig eiandfor 0uto $20d.Meor
Ing for 99c to $75.00. Braque Maillol as much as $100. Come look over our
west. That's not merely bragadoccio on our part. It's just that weCve Clder Mir. stock of hundreds of these graphics
heard it claimed by so many of our customers that we are beginning CENTICORE BOOKSHOPS C n. Piss. an ea orIgin
336 MAYNARD 1229 SO. UNIVERSITY Deli Renoir Ing an original Miro lithograph for
to believe it, ourselves. We specialize in the humanities, with empha- Dumier Toulouse- $20, ean original Renoir, Cezanne or
sis on the fine arts, poetry, fiction and the social sciences. We also Escoet Lautre noyatay ingfo asrit reas no
Gscomett a Yaslr Bey nat walyk ork art t areIo
have beautifully rounded sections in science fiction, American Indians, Goya & others necessarily expensive - when you
ancient classics, women, crafts, the occult and oriental philosophies. Centicore on South Univ. CENTICORE DOOKSHOPS
336 MAYNARD
If we are first and foremost a bookshop, we are also Ann Arbor's big- WE BUY AND SELL USED BOOKS
gest source of inexpensive art to decorate your rooms and apart- Ann Arbor's Best Selection of Used Paperbacks. Over
sytd25,000 Titles-From 25c Up. Our Shelves Are Packed. U
r ments. We offer you a selection of thousands and thousands of Our Aisles Are Crowded, But You'll Be Delighted WithIQUESTION:
pictures that start with poster-size reproductions of famous paintings, the Little Treasures You'll Find at AFTER YOU'VE HAD JOY OF SEX
all at $1.98, and continue up to ORIGINAL graphics by the world's CENTICORE BOOKSHOPS ANSwER: WHAT DO YOU DO FOR ENCORES?
most famous artists. Along the way, you will pass Art-Nouveau, pre- 1229 SO. UNIVERSITY Read MORE JOY
Raphaelites, movie posters, Dali posters, Maxfield Parrish posters, By ALEX COMFORT
music posters and art gallery posters. Illustrated By CHARLES RAYMOND and CHRISTOPHER FOSS
MORE JOY Is Just as Witty, Knowledgeable and Gentle as the
First Book. MORE JOY Takes You Further Toward a Sane Ap-
Keep in mind that Centicore has a complete frame shop. Bring your Centicore Fram eshopperchiAl YArSatEiiNCOR FER CENTICORE
art to us or buy it here, but don't frame anything till we have shown 336 MAYNARD WILL REDUCE THE PRICE OF MORE JOY
you our huge selection of frames. We give fast service, the lowest COMPLETE SELECTION OF FRAMES TO THE FIRST 50 PEOLE WHO BRING IN5THIS AD FRIDAY
prices and superb craftsmanship along with intelligent and imagina- Modern Traditional Art Deco CENTICORE BOOKSHOPS
tive advice that will alloy you to frame your art beautifully while Metals Woods Matting 336 MAYNARD 1229 S0. UNIVERSITY
Dry-Mounting Custom-Made Ready-Made36MANR
saving money. 100'S & 100'S TO CHOOSE FROM
We Offer Expert and Imaginative Help in Framing
To complete the picture of what Ann Arbor's best booksellers have to Anything To Its Best Advantage.
offer, visit our right-on little emporium across the campus at 1229 OUR PRICES ARE THE LOWEST
South University, where we buy and sell used books. A good browse Cenrd Sreetokshs sonoat
there will convince you that those overloaded shelves contain thou- Albers largest selections of original art Lindner
Anuszkiewicz posters in the United States. Louis
sands of books that you can't find at any other bookstore, and m t ost LT N ASAVE Apel Our sources are in many pearts Matisse
y1 I. LEN 1 VIBeardon of the world, and we carry a Miro
of them are priced well under retail. In both our stores, in every de- Bonnard large number of posters that Munch
Braque are difficult to find anyplace in Mondrian
partment, you'll find friendly sales people to help you. Our well- -JOHN MILTON Colder this country. O'Keefe
ForA imte TmeCeticreIsSeli OerChagll These posters are created and Oldenber
trained staff knows books, will rap with you about books and will For A Liited Time CentiCOre Is Selling Over DI executed by the artists, them- Picasso
2000' Reods tUpto 800/ OFF Lst Pie ufy selves, to commemorate exhibi- Pollock
performn marvelous tricks to help you find the books you want. And 2 COrs a UP 0 80 % F s Ernst tions of their works. Most of Rockwell
?^ CLASSICAL BAROQUE MODERN CHAMBER Frankenthaer them are original silk-screens Shahn
if we don't have the book we will special order it for you in record ROMANTIC FOLK ETHNIC BALLET Giocometti and lithogrophs; they are not Steinberg
7 RENAISSANCE ROCK BIG BAND GUITAR Indiana mere reproductions of paint- Stella
time. MEDIEVAL POP OPERA BLUES Johns ings. With the passage of time Trova
SCOME SOON-QUANTITIES LUITEDKandinsky their value can increase by the Vsarel
COEoOO QUATTE LMTDKimt sm percntgeasdos heWaho

rJ
n
pl
40
4-l
r 't3
Q
40
4JR
40
J
Jt
4gl
i
40
4H
P-t
4M
(J

Back to Top

© 2021 Regents of the University of Michigan