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
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| MEXICAN
1 I$(jHO(Np$tOJ: fHHOS‘E
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RAILROAD]
MEATPACKING
p
AGRICULTURE
presented toy jp.
UPC Chicano Special Events & Entertainment k
& the Mexican American Student Association
of the University of Nebraska-Lincoln 1
Friday, April 1
10:00 a.m.>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
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