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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 27, 1972, Lethbridge, Alberta 26 THI IITHBRIDGE HEtALD Dwtmbtr 27, 1972- Economists look at economics TORONTO (CP) Solutions to all the world's international, national and local problems might be found this week in the convention halls of four down- town Toronto hotels. But don't count on it. Some economists, social science theorists and industrial relations from the United States gathered Tuesday for the annual meet- ing of the American Economic Association and five associated bodies. It is the first time they have met in Canada. John Kenneth Galbraith, Ca- nadian-born Harvard University New system to determine eligibility of VI needed money that the federal govern- ment would need to pay into the fund in 1973." Mr. Rose says his simple pro- posal would go a long way to- ward reassuring Canadians they are not being cheated ar-d that the scheme bears some resem- blance to a social insurance scheme. He suggests that the act established the present unemployment insurance pro- gram "was not a matter of so- cial Insurance or income maintenance, but was a matter of political It was indeed generous but "at the expense cf those Cana- dians least able to afford such generosity at this time in our He criticizes Mr. Andras for proposing to reduce by half the estimated million shortage in the 1972 unemployment insur- ance fund through an increase in premiums paid by those be- longing to the scheme. "This is hardly reassuring to the great majority of Canadians who are employed, who do not expect to be unemployed, and who would never consider the tactics that we now know have been used to gouge the fund during the past three Youth violence causes alarm TORONTO (CP) system for dete-rraning eligibil- ity for unemployment insurance benefits is urgently required, says Albeit Rose, dean of the faculty of soda! work at the University of Toronto. He says the present plan which allows an unemployed person to draw up to 20 weeks in benefits after only eight weeks of paid employment "is not merely a generous plan but a foolish one. a destructive one." He says it continues to de- stroy systematically the prin- ciple of social irsurance. Contrary to Manpower Mins- teri Robert Ardras's contention that there is no case for chang- ing the eight-week period. Mr. Rose says in a written criticism that change is essential if pub- lic confidence is to be restored. He proposes that only eight weeks of benefits be paid for eight weeks of insured employ- ment and one additional week's j benefit for each additional week (AP) _ ,Tm resulting yaw 32 deaths in v tomorrow.7' the Lcs Angeles this year and leav- ror weeKs ot j voung Darned the teach-' ing high school campuses tense. surea emp-oymeiu icere (tjr of the: Los Angeles ooh'ce officials hp TV-OP AT I0r .iO T T SK t -ner- Bnins and you hurt ray part-. say gang related cea'cas nave _j i JQ you." tripled over figures for each of v r -9 The threat might have been the last three years, and adiain- S forgo4611 Ln a and' Parents r TrrTw UTT'TT iVf" cent saying something over tee that non-gang members are phone he never intended to carrying weapons to school to carry out. But few teachers in protect themselves. ''Very, very critical problem right says Sgt. Art Ca- between marilio of Compton police. The list of incidents have been many and have included beat- ings, shootings and robberies: students were wounded, one seriously, as they stood cear a homecoming float at Jefferson high school. Police said the youths apparently were shot from a passing car. at Locke high school reported seeing several students, believed to be gang members, carrying shotguns on campus. A student with a shot-1 gun later was arrested at a nearby hamburger stand after j allegedly threatening to kill an-; other youth. I weess of wori-: 2U weescs 01 exits and so on to a maximum Of 52 weeks of APPLY FOR WELFARE At the end of the benefit pe- Youth of it sistance hi the normal manner. "Adoption ot this proposal. TFOuld 'not onlv eliminate the! blamed on warfare rcost flagrant abuses but would black youth gangs has m- cut the amount of i creased sharply in some areas, HOW FIT AM YUOr A new orgenizcticn, Spcns Partici- pating Ccncdc, is launching a rr.essive progrcm to Canadians mere cf the irnpcrrcnce cf being physicsiiy fir. For c rspor: on this new crgenizcTicn end iJs prsgram, rsed Andy O'Brien's article in Weekend Msgczine this Saturday. And while ysu're cr iT, try the rests to your cwn stcre of physical fitness. IN YOUR IFTHBRIDGE HERALD WEEKEND MAGAZINE economist and author of The Af- fluent Society and other works, is president of the senior organ- ization. With it are associated the American Agricultural Econom- ics Association, the American Finance Association, the Associ- ation for Social Economics, the Econometric Society and the In- i dusrrial PL.elations Research As- I sociation. Host for the visiting associ- ations is the Canadian Bankers" Association. DISCUSS MANY SUBJECTS j Together, their work covers j everything from the economic j impact of heroin use to the role i of multinational corporation in I international trade and finance. Economics, which has been I called the dismal science as j well as the queen of the scien- I ces, deals with what makes I society money, in- come and outgo. Some economist somewhere i has a pet theoretical solution at j least to virtually any problem. i The difficulty is that economists i differ widely in their ap- proaches to problem-solving, and arguments can be long and I involved. i Nearly 400 learned papers are i scheduled to be presented to sessions of the three-day meet- ing. Galbraith delivers bis presidential address Friday night. PRIZE WINNER PRESIDES Kenneth J. Arrow of Harvard, this year's -winner of the Nobel Prize for economics, will be guest of honor at a Thursday luncheon, and preside at ses- sions on the allocation of eco- nomic resources, and ways to achieve economic equilibrium In a world of uncertainties. Canadians participating in-! elude Dr. John Young, chair- man cf the now-defunct prices and incomes commission, and Dr. Sylvia Gstry, chief statisti- cian of Canada. R. M. Macin- tosh, deputy chief general man- ager cf the Bank of Nova Scotia, is general chairman of the organizing committee. Apart from the seminar-eke discussions of economic prob- lenTS, the convention gives ris- ing young economists a chance to display their prowess before their eiders. Toe convention also serves a s a hiring hall. where employers can find premising new employees. Computers will be used to keep track of the 8.000 dele- gates and their hotel rooms, messages, and program ar- rangements. They will also be demonstrated in their appH- cation to solving complex math- ematical formulas evolved fay economic analvsts. Make your home a humid oasis in the dry desert of winter Winter brings lets of things, ir.ciuding dry air. Dry cir is uncomfortable very u-ncorn- fortcble. Dry air increcses nose and throat end irritatien. Dry cir costs you more in heating bills. Dry cir increases stctic electricity shocks. Sc who wants it? Nobody! Ri2'nt now you can save on static electricity shocks, save on heating bills, scve on ncse and throcf dry irritctton end scve on the price of c humidifier from Simpsons-Sears. Just a little good news before descends a houseful! of desert-dry air. Think cjocut it. Your home a healthful oasis of humid air in the midst cf a winter-dry desert. It's the good that you've been waiting for. THAT GOOD OLD FEELING While most people ere still in the CFiristmai spirit, Sarvta Cious soaks his feet after a particularly hectic Christmas. After the foot-scalcing Mr. Claus will probcbiy have to get back ts the drawing board for next year's visit. Stack of major problems confront Nixon in '73 25 Gal. Output Humidifier Reg. Sole 114.99 15 Output Humidifier Reg. Sale 74.99 10 Reg Gal. Output Humidifier Sale 35.99 Plumbing and Heotirg at Simpsons-Sears you ttie guaranty our MUtftctfon or monty nfandtd with Open tonight until 9 p.m., Thurs. and Fri. til 9 p.m. Sat. till p.m. Centre Village Mall. Phone 328-9231 WASHINGTON (CP) A stack of major problems, from energy shortages- to trade balances, will remain OB President Richard Nbcoifs desk in 1S73 even if he finally manages to puli the United States out of the Vietnam quagmire. The corning year offers the president and other American politicians a rare respite from the energy-consuming busi- ness of politics. With no presidential election for another four Nbcon is constkuticnally ineli- gible for another term any- with the next con- gressional elections two years off. 1973 may pass in a rela- tively uncharged political at- mosphere. Nizcn has prepared for the by shuffling cabinet and senior administrative posts in recent But his appoint- ment of Treasury Secretary George Shultz to head a pow- erful "new economic board in- dicates that he will continue to strengthen White House controi of government. appointment, which re- moves part of Shultz's activi- ties from congressional super- vision, seems certain to ag- gravate Nixon's aJreaay-diffi- cult relations with Congress. SEE TUG-OF-WAR A constant tug-of-war seems certain between the Republi- can administration and the Democratic-controlled House and Senate over programs and spending. Nixon has Indicated that among his prime concerns will be improved relations the major allies of the U.S., particularly Europe and Japan, the stubborn deficit in American foreign trade, and the complex implications of an impending shortage of oil and natural-gas supplies. Con- gress will want a say in any action proposed. The Nov. 7 election shaped American politics during the past year, and the elections in turn vrere moulded by such disparate events as Nixon's glamorous trips to Peking and Moscow, the shooting cf Ala- bama Governor George Wal- lace, the Vietnam peace nego- tiations and the mental his- tory of Senator Thomas Eag- leston. BEGAN AS UNDERDOG NLzcn. began 1572 as an underdog, found himself grow- ing in public acceptance zs the number of U.S. troeps Ln Vietnam visibly declined. His popularity edged up after his historic trio to China Feb. 21- 28 and his encounters Chen En-lai and Mao Tse- tung. But a decisive surge came, analyst; agree, when Nixon decided on a naval blockade and stepped-up bombing of North Vietnam, without losing an invitation to JToscou-, His one-week visit there in May included a batch of asree- FBI arrests aircraft threatener ST. LOUIS CAP) FBI agents arrested a young man here after ba allegedly threat- j ened to bomb three Trans World Airlines airplanes. The FBI said the man was ar- rested in a St. Louis suburb when he tried to pick up a piece of luggage allegedly containing! demanded earlier by an j anonymous caller. Richard M. Seufert, 19, of St. j Louis was held in lieu of 510.000 j bail on a charge of violating the federal aircraft-extortion stat- ute. A hearing was set for today before a U.S. magistrate in St. Louis. The FBI said a man called the TWA office in St. Louis and threatened to put bombs on three planes unless he received isents with Hanoi's Soviet al- lies. Meanwhile, in a repetition of a scenario becoming sick- eningjy familiar to Ameri- cans, a lone gunman serisus- 3y wounded George Wallace May 35 at the height of the primary election campaign, one of the'most potent figures from the race for the presiden- t's! nomination. The Democrats went on to nominate George McGorern of South Dakota after i. bruis- ing primary campaign that alienated man--' cf the parly's conservative eitments, organ- ized labor and the supporters cf such unsuccessful candi- dates as Hubert Humphrey, Edmund Muskie and Henry Jackson, all fellow senators of McGovem. After a brief euphoria, McGovem !s campaign never seemed to recover from the revelation that his vice-presi- d e n 11 a 1 candidate, Senator Eagleton of Missouri, had failed to disclose a history of mental illness. Eagleton was dumped in favor of Sargeant Shiver, but the campaign remained haunted by mischance and by the public belief that Mc- Govern was too "radical" to be trusted. Nkon racked up a near- record 60-per-cent vote in the election, although voter turn- out was too low and he failed to extend his popularity to Re- publicans running for Con- gress and state offices. In the end, Nixon had even succeeded in "stealing" the Vietnam issue from Mc- Govem, whose reputation had been grounded on his long- standing opposition to thst war. Virtually on the eve of the election, Nixon's foreign- policy mastermind, Henry Kissinger, announced that peace' was at hand in the Paris negotiations with NoHb Vietnam, ;