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October 31, 1972 - Image 9

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Publication:
Michigan Daily, 1972-10-31

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T'uesda'y, October 31, 1972

THE MICHIGAN DAILY

Page Nine

Tuesday, October 31, 1972 THE MICHIGAN DAILY Page Nine

t
l

TR E
TMRU T4E

FOJTI1K
COMMISSIONER
. Student .*Democrat * McGovern Delegate
"Vote for Kathy," elected in an open primary
by the people of District 14."
Nov.7-For the people, not the party
paid political advertisement

DAILY OFFICIAL BULLETIN

McCracken, Ackley
debate fiscal policy

The Daily Official Bulletin is an
official publication of the Univer-
sity of Michigan. Notices should be
sent in TYPEWRITTEN FORM to
409 E. Jefferson, before 2 p.m, of
Sthe day preceding publication and
by 2 p.m. Friday for Saturday and
Sunday. Items appear once only.
Student organization notices are
not accepted for publication. For
more information, phone 764-9270.
TUESDAY, OCTOBER 31
DAY CALENDAR.
Music School: Trumpet Student Re-
cital, SM Recital Hall, 12:30 pm.
Biophysics Seminar: B. Rubin,
"Small-Angle X-ray Studies of Colla-
gen." 618 Physics-Astronomy Bldg., 1
pm.

",I

Stony Brook, "Gauge Theories of Weak
Interaction," 2038 Randall Lab, 4 pm.
Prog. in Engineering for Public Sys-
tems: E. Savas, first deputy city admin.
of N.Y. City. "On the Design of
Counter-Productive Public Systems."
311 W. Engin., 4 pm.
Prog. in Studies in Religion, Relig.
Affairs, Sociology, Art Hist. & Near
East. Langs. & Lits: T. Kachel, D.
Freedman, K. Stendahl, dean, Harvard
Divinity School, T. Gill. John Jay Col-
lege. R. Bellah, Univ. of Cal,, Berkeley;
panel on "Religion & the American
Academic Scene," 4 pm. K. Stendahl,
dean, Harvard'Divinity Sch., "The Fu-
ture Role of Universities in the Educa-
tion of Religious Ministers," 8 pm.;
both held in Mod. Langs. Bldg.
Residential Coll. Renaissance Drama-
Films: "Berenice." French, no sub-
titles, Res. Coll. Aud., 7 pm.
Computing Center: L. Flanigan & J.
Henriksen, "GPSS/360: Part I," Semi-
nar Rm., Comp. Ctr., 7:30 pm.
Music School: Symphony Orchestra,
T. Alcantara, conductor, Hill Aud., 8
prResidential .Call, Astronomical Film
Festival: "Man in Space" "The Legacy
of Gemini" and "The Active Sun,"
RC Aud.. 9 pm.

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GSA Coffee Hour: Program in Re-
ligious Studies, 2549 LSA Bldg., 3 pm.
Library Film Series: "Faulkner's Mis-
sissippi," commentary by Lyall H.
Powers, UGLI Multi-purpose Rm., 3:34
pm.
Physics Energy Seminar: Jackson,
Ford Scientific Labs, "Composite Exci-
tations in Superfluid Helium," P&A
Colloq. Rm., 4 pm.
Physics Seminar: B. W. Lee, SUNY,

By ANGELA BALK
Prof. Paul McCracken concen-
troted on Nixonomics and Prof. H.
Gardner Ackley focused on Mc-
Govern's fiscal proposal as the
two economists debated national
financial policy in a guest lecture
yesterday in Economics 201.
Both Ackley and McCracken
have been members and chair-
men of the President's Council of
Economic Advisers: Ackley un-
der Presidents Kennedy and John-
son (1962-1968) and McCracken
under Presidents Eisenhower and
Nixon (1956-1959 and 1969-1971).
Their partisan ties showed up
consistently throughout the de-
bate.
There was "an unusually com-
plex conjunction of problems"
when Nixon took office, according
to McCracken. The nation was at
the "peak" of defense spending, in
the midst of a "long and difficult"
inflation, and had lost its interna-
tional trade advantage, he said.
Under the Nixon administra-
tion, McCracken asserted, the
economy has gone from "exces-
sive expansion to excessive re-
straint" in order to solve the
problems it faced.
Ackley criticized the economic
policy of the Nixon government,
saying that while "inflation is now
fading" the wage-price freeze was
a "drastic and dangerous" meth-
od of attacking it. The freeze
would not have been necessary, ac-
cording to Ackley, if Nixon had
not rejected milder forms of inter-
ference in the economy. If McGov-

ern is elected, said Ackley, the
wage-price freeze will be "sup-
planted promptly. by voluntary
guidelines" for' keeping wages and
prices at non-inflationary levels,
Voluntary guidelines, contended
McCracken, had been tried by the
,Johnson administration and had
failed. "The Nixon administration
did not kill the guidelines. They
were dead when we arrived," he
said.
McGovern, according to Ackley,
is more concerned with the goal
of full employment than is. Nix-
on. McGovern, said Ackley, would
not only encourage employment
but would also establish a pro-
gram of "residual public service
jobs" so that "every willing work-
er" will have a job.
McCracken agreed that "the ac-
ceptable rate of unemployment is
zero percent." He added, however,
that inflation had to be dealt with
and it could not have been solved
without a rise in unemployment.
This rise, according to McCracken,
was "not great, only one and a
half per cent."
The wage-prize freeze, McCrack-
en said, has bought the consumer
price performance from "the worst
in the world to the best," allow-
ed average spendable weekly earn-
ings to "rise four and a half per
cent per year," and prepared the
nation for a "vigorous and long-
sustained economic expansion."
"Our economy will survive even
another four years of Ribhard
Nixon," stated Ackley, but it will
be "more prosperous" under Mc-
Govern.

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