Daily Nebrsskan
Wednesday, January 12, 1983
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Professor
By Christopher Burbach
More government involvement is needed to spur
economic recovery, two UNL economics professors said
Tuesday.
Associate Professor Jerry Petr and Professor Wallace
Peterson agreed that economic recovery depends on time
and policy changes in the Reag3n administration.
Peterson and Petr are two of five economics depart
ment faculty members in the College of Business whose
publications in last December's Journal of Economic
Issues gained recognition for the department as a pro
minent center of social economics. Professor Greg Hay
den and graduate teaching assistants Merrill Warkentin and
Ivan Weinel also were recognized.
Petr said he foresees increased government involvement
in the economy. Reality will force the present adminis
tration to become more involved with the public sector,
Petr said. This involvement would include jobs, job train
ing programs and government cooperation with corpora
tions, management and labor in controlling wages and
prices.
Peterson said he also advocates more government
n n n n n
(013(01
involvement. But he said he doesn't believe such programs
are immediately forthcoming because of the present
administration's ideological opposition to jobs programs.
Hie government can stimulate the economy by
cutting taxes or spending more money, Petr said. The
Reagan administration has cut taxes. However, that "is
not sufficient stimulus if the outlook for business is
bleak." Petr said. In addition, the Reagan administration's
tight monetary policy has counteracted the effects tax
cuts may have had. he said.
"Re3ganomics is in such disarray now that tley (the
government officials) just have to hope," Peterson said.
The economy will recover, but the question is how
strong that recovery will be.
"Market capitalism historically undergoes fundamen
tal changes to make it work better," Peterson said.
Reagan's tax cuts and a possible easing in monetary
policy will provide a basis for recovery, possibly in the
next year, Petr said. However, the cumulative effects of
recession, unemployment and business failures will slow
economic growth and stall recovery, he said.
Peterson also said recovery may be slow. But because
of capitalism's ability to adapt, the economy will improve.
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7
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Use your Bank-In-The-Box card to get the $25 out of your checking account so
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Shorts
Students who want to
apply for financial aid or
need-based scholarships
should submit the Financial
Aid Form to the Scholar
ships and Financial Aids
office in Room 113 of
the Administration building,
by the following priority
deadlines:
March 15 for need
based scholarships. April
15 for need-based aid; April
15 for summer financial aid.
Students are advised to sub
mit these forms a month
before the deadlines to en
sure enough time for pro
cessing. March 1 5 is the deadline
for scholarships not based
on need.
The Home Economics
Education Association is
holding a meeting Thursday
at 7 p.m. in the Home
Economics Building, Room
121, on East Campus.
The African People's
Union is sponsoring the first
annual Mr. Black Collegiate
Pageant Saturday to com
memorate the birthday of
Martin Luther King. The
pageant will begin :it 7
p.m. in the Ballroom of the
Nebraska Union. A dance
will follow. Admission is
$3.
UNL Housing Director
Doug Zatechka will explain
the proposed room and
board rate increases for
next year to students at
the Union South Crib at
7:30 tonight.
There will be a Residence
Hall Association meeting in
the Abel South cafeteria
Thursday at 7:30p.m.
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