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Tom’s
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Chinese Gourmet
Sichuan-Hunan
Tofu vegetarian •
Whole fish • Beef •
Lamb • Pork •
Noodles • Bread
Dinner SI.75 & up
Whole Fish S6.SO
Lamb Shank 86.50
Hot or Spicy
Dinner hours: 5-9 Wed-Sun
Dim Sum lunch: Sat & Sun
788 W. 7th Ave. • 343-8805
Healthy • Inexpensive
— poppi V—
Lunch
Monday through Saturday
Dinner
7 Nights a Week
992 Willamette
Eugene, Or 97401
343-9661
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Oregon Daily Emerald 346-3712
Economy
continued from page 1A
Savings and investments in the
United States economy from for
eign sources have been a major
factor in recent growth, he said.
Gramlich also noted the impor
tance of government savings in
bolstering the economy.
“The government’s contribu
tion to saving has increased re
markably since 1992,” he said.
A large surplus in the form of
social security benefits waiting to
be collected by aging baby
boomers is earning interest and
making up for some declines in
private investment.
“It never occurred to me that
I’d be alive when the government
was in surplus,” Gramlich said.
The boom in the high-tech rev
olution has produced very sharp
increases in productivity and
“this revolution has a long way to
run,” he said.
This predicted longevity is
due in part to high rates of obso
lescence inherent to the high
tech industry. To stay competi
tive, firms have to continually
buy newer and faster computers
as technology advances. Fur
thermore, many experts have
called this the beginning of the
high-tech boom, with years of
similar growth possible, Gram
lich said.
“Compared with the invest
ment booms of the ’60s, this has
much more potential to be sus
{ ( [Gramlich] has been
associated with research
on poverty and inequali
ty for 30 years.
James Ziliak
associate professor
of economics
tainable,” he said. “I think for the
next five to 10 years, the produc
tivity outlook is rosy.”
He added that it is difficult to
predict how long the technology
boom will last because guessing
about new technological innova
tions is difficult.
Gramlich, who took office in
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November of 1997, explained the
Federal Reserve Board’s role in
creating and preserving a strong
economy.
“What I think we at the Fed
oughta do is keep inflation
down,” he said. “If we see infla
tion coming, we’ve got to tighten
up; if we see unemployment
coming, we’ve got to ease up.
“The challenge is to be appro
priately preemptive.”
He said he hopes the general
strategies of tight fiscal policy,
high government saving and pay
ing back the national debt will
continue to work toward this
end.
Gramlich spent Thursday
morning talking with students in
a poverty, inequality and public
policy economics class that deals
with some of the issues he is an
expert in.
The class is taught by associate
professor of economics James Zil
iak, who invited Gramlich to the
University.
Gramlich “has been associated
with research on poverty and in
equality for 30 years,” Ziliak
said. “He is one of the country’s
experts.”
Gramlich’s term on the seven
member Federal Reserve Board
of Governors will end in January
of 2008. All seven members are
nominated by the President and
confirmed by the Senate, accord
ing to the Federal Reserve Sys
tem Web site.
Nike
continued from page 1A
said that he has had a “very good
relationship and a friendship
with Phil Knight. There has never
been any strings tied to his gifts.”
“I have heard strictly rumors re
ported by the media,” University
President Dave Frohnmayer said.
Knight and Frohnmayer spoke
briefly over the telephone April
14 to discuss the University’s
membership in the WRC, Frohn
mayer said. They mutually agreed
to speak in greater detail about the
matter in the near future, he said.
“We’ve made our commitment
to the WRC,” Frohnmayer said.
“We’ve also made our concerns
about the WRC known.”
In a letter notifying the WRC of
the University’s decision to join
the labor standards monitoring
agency, Frohnmayer expressed
these concerns.
Issues of governance, member
ship balance, transparency and
disclosure of all contributors and
their affiliations need to be ad
dressed, Frohnmayer has said.
“We expect there to be internal
progress,” he said.
Nike’s statement expressed the
company’s dislike of the WRC,
but noted that the University’s
partnership agreement, which
runs through 2003, remains intact
and unaffected.
“The U of O, despite its unique
relationship with Nike and Phil,
is free to align itself with the
WRC,” reads the statement.
“However, it does not mean that
we are required to support those
efforts with which we have fun
damental disagreements.”
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