Packaging economics

In 1970 the media juggernaut Time Inc created “Time’s Board of Economists.” Sitting on the Board were Otto Eckstein (Harvard), Walter Heller (Uni. Minnesota), David Grove (IBM), Robert Nathan (Nathan Associates), Arthur Okun (Brookings), Joseph Pechman (Brookings), Beryl Sprinkel (Harris Trust & Savings Bank), and Robert Triffin (Yale). This brain trust met with the editorial staff of Time four times a year and was a source of great pride. At the New York Times they were advertised as an all star team of economic savants.
I could not find evidence of its continued existence (granted that I did not look very hard). Besides, they show up two years later in a Wall Street Journal ad. By 1973 the wisdom of economists was recorded on video cassette. There was the small matter of an $800 dollars fee, which makes me ask: what is the price of video technology and what is the price of economic advice?


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s