Holmes: British economy a ‘miracle’ I By Jerry Guenther Staff Reporter Business revitalization, a bal anced budget, and a surplus of bal ance of payments in Britain is an economic miracle, Martin Holmes, a professor at Oxford University, said at an economic debate Thursday. The forum in the Nebraska Union, part of the visiting scholar program, was sponsored by the International Association of Students in Econom ics and B usincss Management and the UNL College of Business Admini stration. Holmes said a “massive transfor mation” has occurred in the British economy. For example, Holmes said Prime Minister Margaret Thatcher has balanced the budget after a deficit of 33 billion pounds in 1980. Holmes also said tax cuts are part of the economic transformation which has occurred in Britain under Thatcher. “Taxes have now been cut, not from the position of weakness which occurred in the Reagan period, but from the position of strength,” Holmes said. During the period of Keynesian economics in the 1970s, Holmes said Britain suffered from high inflation and little economic growth. “Mrs. Thatcher has restored sound mind, a balanced budget, sensible monetary policy, so that inflation is now permanently under control at between three and four percent,” Holmes said. By contrast, Holmes said the government’s budget deficit, the growth of bureaucracy and central power has hurt economic progress in the United States. These factors have led to the destruction of private enter prise in the American economy, he said. “After eight years of the Reagan administration, there has been no institutional or parliamcntal reform to bloated bureaucratic power,” Holmes said. But, Holmes said the U.S. has improved economic growth and low ered unemployment. Nicholas Horsewood, dean of the Oxford Institute for British and Irish Studies, said that Keynesian econom ics has a future, and has been respon sible for maintaining a high level of employment in the U.S. and Britain. Horsewood said the cause for the reduction in inflation in the 1980s was not because of Thatcher’s supply side incentives, but came about because of fewer supply side shocks such as those brought about by the Organiza tion of Petroleum Exporting Coun tries in the 1970s. Trade is imbalanced in the U.S. and Britain, Horsewood said, because governments have not provided in centives for industry. “We were not encouraging indus try to become competitive in global markets,” Horsewood said. “What we were concerned with doing was trying to become competitive within our selves,” he said. Kegents propose pay increase REGENTS from Page 1 cellor for student affairs for the den tistry college, said he was surprised by the 26.6 percent increase per semester, but said UNL’s dentistry college has traditionally had lower tuition rates than the rest of the coun try. “I obviously don’t like to sec tui tion go up, but on a national perspec tive that isn’t that bad,” Merchant said. UNMC Chancellor Charles An drews said he is sorry that students have to pay higher tuition, but that professional education is the most highly subsidized education in the state. However, Andrews said it is a problem when tuition is increased at UNMC. Eighty percent of medical students have a debt of more than $30,000 when they graduate, An drews said. Total dollar increases for staff pay hikes at UNL, UNO and UNMC in clude money not only from the tuition increases, but appropriations from the Nebraska Legislature. Petersen said UNL will get the majority of staff pay dollars because faculty salaries at UNL arc further behind its individual peer group. While Petersen said the proposal “is very fair” to the UNL staff, he said he doesn’t know how the plan will be accepted at Saturday’s regents’ meet ing. The regents also will consider bids on phases lb and 2 for the UNL recreation center. The estimated cost of 1 b and 2 is $5,463,(XX). This would bring the total cost of the center with the indoor athletic field to $8,850,(XX). Financing for the project comes from $5 million in private donations, $3,500,000 in student fees and bond surplus funds. The balance of the project will be financed through an assessment on football tickets. $1.00 OFF I Any 2 or more pizzas n 475-6363 j ADDRESS__ DATE_H Expires 5/1/88 $1.00 OFF | Any Pizza Ordered |Jj 11a.m.-4 p.m. m 475-6363 ■ gl $ 1 si 1 | MEXICAN 1 I$(jHO(Np$tOJ: fHHOS‘E 1 ll:30a.ni 1:30 p.m.-3:00 p.m. Panel discussion “Nebraska’s Mexican Heritage” Nebraska Qty Union Panelists: (To be announced.) No admission charge. Panel discussion “Racial Diversity on Campus" Panelists: Undergraduate and graduate students (TBA) Nebraska Qty Union No admission charge. StiBjfliT. April > 10:00 a.m.-Noon 2:00 p.m.-5:00 p.m. 8:30 p.m.>12:30 a.m. Fun Run (1.2.25.4.5 mile runs) Register at City or East Union front desk Fee: 12 and under $3 UN-L student w/ID $4 Others $5 Run will be at East Campus UN-L Chicano Alumni Reception Culture Center 333 North 14th Co-sponsored by Multi-Cultural Affairs Dance featuring Los Don Juans Chesterfield’s in the Gunny’s Complex 13th and Q Streets Admission: General $4 Couples $7 UN-L student w/ID $3 April Hi 2:00 p.m.-6:00 p.m. Mexican Fiesta Dinner Guadalajara Dance Troupe San Juan Mariachi Admission: 12 and under $3 UN-L student w/ID S5 Others $6 Tickets available at both Union desks ar:d also, beginning April 4th, at City Union booth. Appetizers courtesy of Amigo’s. upc For more information call Daniel Paez (402) 476-0418 or Ed Munoz (402) 435-0601 __ 1 __