Mirror - Vol. 02, No. 06 - September 21, 1978

              TIME Editor Addresses
Pressing Economic Issues
by Tucker Forman
Marshall Loeb, senior editor of Time
Magazine and columnist for the
business, economic and energy
sections, lectured recently to an
audience of over 300 in the Oak
Room.
A graduate of the University of
Missouri Journalism School, Loeb has
been responsible for over 110 cover
stories, two of which have received
extraordinary recognition: "The Power
of Oil" and "John Maynard Keynes".
His lecture focused on two major
points — the current economic
situation of the nation and the
changes that the nation must confront
in the next decade. According to Loeb,
'The first thing worrying people is
inflation,the cruelest tax. We alI feel it
— the poor more than anyone."
'The experts say the underlying rate
of inflation of 7% is indominable and
unassailable. But a national crusade is
needed to defeat it. The cure demands
discipline and sacrifice on the part of
everyone."
Loeb's plan of defeating inflation
includes reducing the Federal budget.
"We must campaign against benefit
programs. All programs should be cut
judiciously." Notable progress is being
made since the budget has been cut
by some $20 billion since January, but
a deficit of $40 billion still remains.
Also, a 'curbing of regulation' must
occur, especially on Social Security
benefits. "Social Security has in-creased
geometrically. Students will
be supporting impossible loads in the
next few decades. If no change takes
place, Social Security will go
bankrupt." Loeb commended
President Carter for his 5.5%
limitation on such programs.
Mr. Loeb termed minimum wage as
"the surest way to add to inflation. As
of January 1, 1979, minimum wage is
scheduled to increase to $2.90 per
hour and in 1981 to $3.35. This hurts
because it hinders unskilled as well as
young Americans in obtaining em-ployment."
Finally, Loeb pinpointed chief
executives as a cause of inflation. "If
chief executives were to freeze their
own wages, union and non-union
wages across the country would do
likewise."
In terms of the Cross National
Product, Loeb predicts "slow and
sluggish growth for the next two or
three years." A major breakthrough for
capital investment occurred in
January when taxes were cut by $17
billion. "A corporate tax cut of this
kind will stimulate business in-vestment,"
adds Loeb. "Capital in-vestment
is required to make jobs
increase production, keep U.S.
products competitive and keep the
dollar strong."
Currently, the U.S. spends 8-10% of
its CNP on capital expenditures. Loeb
said, 'This figure needs to increase to
12%. Japan uses 20% of its CNP into
capital spending. That is why they are
more efficient and more productive
than the U.S. In addition, federal
spending is 22% of GNP. This figure is
too high. It should be reduced to 20%
by the next decade." In terms of
exports, "the percentage is 6.5% of
GNP. We are an export-oriented
nation and we need a national drive to
lift this number to 10%."
In his outlook on the 1980's, Loeb
sees major developments in the field
of American politics and economics.
The most important topic will be "the
continuing rise of position, power and
influence of women. No community
remains unaffected by the dramatic
revolution of women. American
women are knocking on the doors of
power: 50% of all women aged 24-64
either hold jobs or are seeking them,
one of five graduates of business
school are women, the ratio is one of
four in law and medical school."
Emphasis is also needed on national
and world resources, according to
Loeb. These include oil, natural gas,
coal, oil shale and sand, uranium and
food grains. 'The nations that possess
these resources will dominate
politically and inherit the future."
Loeb foresees a "shift of power from
the Northeast to the areas rich in
resources." For example, the
population of Wyoming will soon
triple to its treasure of oil, uranium
and natural gas.
In foreign affairs, Loeb looks for
American emphasis to turn from the
Cold War nations to developing and
developed nations — thus new
Time Magazine Editor, Marshall L. Loeb, addressed audience of over 300 last
Wednesday concerning prominent economic issues
energy-bearing raw materials, a vital
base of other raw materials, modern
technology and industry and most
importantly, an educated and
motivated population. I see only three
countries to qualify in all five areas:
Canada, Australia, and the United
States."
'The U.S. has always been a 'people
of a revolution'. In order for us to
remain prosperous, we must be a land
of the continuing revolution. If we
follow the sensible policies of capital
formation,the political, economic and
social impact of the U.S. in the 1980's
is absolutely dazzling."
confrontations to exist between the
Northern nations and the South.
"Friction among affluent, white
nations and industrially poor yet
materially rich Southern nations is
likely. However, the major focus of
American foreign policy must be to
find peaceful ways to deal with this
new economic condition. We must
avoid clash and conflict and achieve
cooperation."
In conclusion, Loeb listed five
ingredients for economic, political
and social success in the next decade:
"A rich, highly productive and
agricultural base, an abundant base of
THE
FAIRFIELD VOL. 2, No. 6 September 21,1978
FAIRFIELD UNIVERSITY, FAIRFIELD, CONN. 06430 MIRRORIncorporated 1977
Dorm Councils
Elections Pending
JACQUELYN BEARD [Photo by Vince Howley]
New Minority
Counselor Chosen
By JAMES ENDRST
The deadline for the establishment
of the eight Dorm Councils is Friday,
September 22nd according to Vinnie
OBrien, President of the Student
Association. O'Brien admitted
however, that some of the elections
might take a little longer and that the
deadline might therefore be extended
beyond tomorrow due to problems
with have arisen over the role of the
resident advisors.
The creation of the Dorm
Councils is the legislative result of the
confrontation between Conzaga
residents and Student Services that
came to a head last spring. Although
the new additon to student regulating
is an outgrowth of that controversy,
the Dorm Council will be more than
just a police body and a dormitory
"court of party appeals". According to
the new rules, each council's purpose
"should be to represent and attend to
all student interests. It should not be
formed for the sole purpose of parties;
but to allow for a better representation
of the dorm students. Ideas, problems
or complaints of on-campus borders
should have an immediate
representative body to use."
Dean of Students William P.
Schimpf expressed his optimism about
the move. "I think it's a very good idea
in theory," he said "I hope it is as good
in practice. There is a definite need for
standards to be established." The
Dean also warned that all dorms may
not be equally successful. "The less
homogeneous the group, the more
difficult it will be to formualte and
carry out agreements," he added.
Schimpf also commented that he
thought the Dorm Council, "is the
most democratic system, though it
may be an absolutely necessary one. It
will however, demand the ' most
student involvement."
Dean Schimpf concluded saying
that the Dorm Council should be used
to help develop programs to make
dorms more than a place to sleep, "I
hope it will serve as a supplement to
the educational process," he said.
by Tony Tamell
"Being a minority in a large in-stitution
is not always easy. I'm here to
curb that feeling of uneasiness," said
Jacquelyn Beard, who replaced Mr.
Perry Kirk as Student Services' new
Counselor for Minority Students.
Arriving at Fairfield September 5,
Ms. Beard hopes to spread her per-sonal
philosophy that "the majority
and minority have to work together for
their mutual benefit" to all the
students and administrative personnel
she comes in contact with.
AWashingtonian,Ms. Beard did her
undergraduate studies at Illinois
Wesleyan University in Bloomington,
Illinois. After attaining her B.A., she
worked for a short period with the
World Bank in Washington, DC, at
which time she moved to New York
and received her Masters in Coun-selling
from New York University.
Upon completion of her degree, Ms.
Beard went back to Illinois Wesleyan
to act as Assistant Director of the
Wesleyan Upward Bound Program, a
Federally-funded program designed
for low income students who have the
potential to go to college but who
need help while in high school.
When asked what would be her
principle mode of operation, Ms.
Beard detailed how she desires to
develop and establish a strong
working relationship with all the
minority students of Fairfield. "I want
to help all the students I come into
contact with," commented Ms. Beard.
She continued that "it is unique
watching individuals grow and
develop to their full potential, and to
know that when it is time for them to
leave the confines of the campus, they
will be able to deal fully with the
outside world."
At 26, Ms. Beard has wasted no time
in getting into the flow of the current
of her office. She has reorganized the
tutorial program since her arrival. This
week she plans to have her first
meeting with the minority students,
and thus determine her prime ob-jectives
for the year to come.
"Since I have been here people have
Continued on P. 3, Col. 1
Nuke Supporter
Challenges Youth
Approximately 300 people gathered
in the Oak Room last week to hear a
forum of business experts and faculty
members discuss the controversial
topic of nuclear energy.
One of th^ main participants in the
debate was a University of Pittsburg
graduate employed by Westinghouse
as a senior engineer. At twenty-eight,
Elder is very involved in a volunteer
program called Campus America.
Due to what Elder calls "a general
lack of knowledge and misun-derstanding
about nuclear energy and
the nuclear industry," this program
was designed to dispel the myths
about nuclear energy. The purpose of
Campus America is to create a
dialogue on nuclear power with the
nation's college students, the general
public and the media.
Elder is a man who combines the
"hard core" facts of nuclear energy
with the moral aspects of energy and
environment.
Today with only five percent of
energy resource accounting for
seventy-five percent of the United
States energy use, a drastic situation is
occurring. "No longer can we prolong
energy conservation, experimentation,
and the utilization of different
sources," Elder states, "the time to
begin is now."
Elder feels the best possible solution
is a mixture of nuclear, solar, hydro,
coal and wind energy; thus leaving the
oil industry and its production for
food and medicine.
Yet, at this point in time, nuclear
energy is the most advanced form of
technology we have. Lee Elder sees
nuclear energy as an "intermediary"
until other forms are advanced and
perfected. Elder states that "we should
Continued on P.3, Col. 3
The
• Pat Carroll initiates new Security
measures ...see Robert J. Schumm's
Story on p. 3
'The Modern Papacy, Part III" ...
Read Prof. .Walter Petry's concluding
remarks on our changing Church. Pg.
6.
• The Playhouse opens another
season with Saroyan's Pulitzer-Prize
winning 'Time of Your Life". Read Carl
Gustafson's glowing accolade on Page
8.
• "How to Succeed in College
without really trying" ... John Smith
offers some suggestions on making it
at Fairfield. Page 9.
• The Stags drop season opener to
Fitchburg State in final seconds of
play. Pat Reap has details of the ex-citing
game on Page 12.