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May 09, 1980 - Image 22

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Publication:
Michigan Daily, 1980-05-09

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Page 22-Friday, May 9, 1980-The Michigan Daily
Ford to appear at convention

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WASHINGTON (UPI)-One former Ford will speak at the opening session
GOP president, Gerald Ford, will make of the four-day convention in Detroit.
a major apeech at the Republican Rep. Guy Vander Jagt of Michigan will
National Convention July 14, but the make the keynote address July 15,
other-Richard Nixon-will not be at- Brock announced.
tending, chairman Bill Brock said IN OUTLINING the party's conven-
yesterday. r tion plans, he also disclosed that Sen.

Nancy Kassebaum (R-Kan.) will be
temporary chairman, the first woman
to hold a top GOP convention post. And
Dr. Aris Allen of Maryland, the party's
first black state chairman several
years ago, will be convention secretary.
Asked if Nixon would have a conven-
tion role, Brock replied: "No." Asked
why, Brock said, "He has indicated he
will not be there."
Ford and Nixon are the only living ex-
presidents.
BROCK WOULD not confirm reports
that Ronald Reagan, front-runner for
the Republican nomination, has
decided to keep him as national chair-
man if he wins the nomination. The
former Tennessee senator referred
questioners on that subject to the for-
mer California governor.
But Brock said "no areas of
disagreement" arose in a recent
meeting with Reagan, giving the im-

pression he would stay on. At the same
time Brock stoutly refused to declare
that Reagan has the nomination locked
up, saying, "I don't thinl any race is
over as long as you have competition."
In announcing the convention
program in advance of the last GOP
national committee meeting before the
Detroit gathering, Brock said, "This
country is wracked by crimes on every
front, both domestic and foreign. We
need a new start as we enter this
challenging decade, and this conven-
tion will give us that opportunity."
Brock said the convention schedule
includes the speech by Ford the first
night; adoption of the platform and the
keynote by Vander Jagt, chairman of
the Republican congressional cam-
paign committee, the second night;
nomination of the president on the third
night and the vice presidential
nomination and acceptance speeches at
the final session Thursday, July 17.

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Experts say public
must end recession

NEW YORK (AP)-Undergoing a
recession without correcting the causes
rf is akin to having the surgeon decide, af-
ter he had cut you up, that he'd takea
chance and not remove the tumor after
o all.
That, or its equivalent, is the warning
now broadcast by economists who fear
that if we fail to correct some obvious
and serious ailments during the
recession, we will condemn ourselves to
} a repeat performance.
K - AMONG THE FIRST to be listed is

The 1980-81 financial aid
application deadline for
continuing students is
Friday. May 9, 1980
Applications
should be submitted at
2011 in the
Student Activities Building
If you have any questions
or require additional information,
please call 763-6600

the psychology of inflation. If people
continue to expect prices to rise, the
economists delcare, prices will rise.
They'll rise because people's actions
will make them rise.
While consumers often are victimized
by the poor decisions of those higher up,
they do exert tremendous influences
themselves. The past few years provide
examples of how inflation fears induce
more inflation.
* People buy in advance of their
needs in order to beat price increases.
This puts added pressure on the
marketplace and the availability of
goods. Prices react upward;
" They borrow more heavily,
knowing that the dollars with which
they repay will be cheaper dollars. The
borrowed money may be channeled into
purchases that otherwise might not be
made. Again, pressure on prices;
* They cut their rate of saving,
reasoning that money left unspent
declines in value. This leaves less
money available for lending on in-
flation-reducing, efficiency-producing
capital spending projects; and,
" Management and labor demand
higher wages.in anticipation of higher
costs, feeding the upward spiral until it
becomes a tornado.
NONE OF THESE decisions is made
in isolation from others, because the
economy is a linkage of causes and ef-
fects as complex as the interacting cells
in a living organism. They constantly
act and react.
The reasons aren't obscure. Con-
tinued huge budget deficits, and insin-
cere promises by government to do
something about them, have left or-
dinary people aware of government's
role in inflation.
EVEN IF THE consumer is afloat
with confidence, however, he and she
can't do much about prices if produc-
tivity doesn't grow. If the efficiency of

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