University Daily Kansan, November 19; 1981 Page 3 Professors predict Reagan economics will fail BOB GREENSPAN/Kansan Statt Economics professors Darwin Dainoff (left) and Harry Shaffer debated the pros and cons of Reaganism last night at the Kansas Union. Law professorship awarded to Clark Barkley Clark has a knack for winning. After serving for eight years as both a city commissioner and two-time mayor of Lawrence and winning three awards for outstanding teaching from the School of Law, Clark recently added another trophy to his collection. In position of Robert A. Schroeder Distinguished Professorship of Law. INCOME FROM THE GIF, which is based on an applicant's scholarly activities, will supplement Clark's salary and provide additional funds for the Schroeder Scholarship in athletics, established in 1978, and funds for the benefit of the English department. "In my opinion, getting this kind of recognition—a distinguished chair for scholarship—is the most gratifying thing that can happen to a faculty member." Clark said. "I've been walking on air. It's great." By MARK ZIEMAN Staff Reporter Schroeder, a 1937 KU law school graduate, established the professorship this year through a gift of Johnson County land to the Kansas University Endowment Association, Clark said yesterday. Clrkq, a 12-year member of the law school faculty and specialist in consumer law, banking and consumer credit, said that he first found out last spring that the professorship was being formulated. "I only knew for sure that it would happen in late October." he said. Although Clark has written almost 20 law review articles and three volumes on consumer law, he said, he does not think his scholarship and publication has cut down on his teaching. "I've always taught a full load," he said. "I look upon scholarship and teaching as very much complementary." By LISA BOLTON Staff Reporter “It’s kind of an important thing in the life of a law school,” he said. “It’s important for the law school to have a core of endowments this type.” Though the intentions of Reagan's economic policy may be good, he's going about it all wrong, two KU economics professors said last night during a forum sponsored by the KU Young Democrats. THE PROFESSORSHIP is also important for the recognition of the school, Clark said. The Schroeder Distinguished Professorship, which Michael J. Davis, dean of the School of Law, earlier called "one of the largest gifts to the school in its 103-year history," describes Professorship as one of the two distinguished chairs available at the school. BUT GIVING FREE rein to big business will not increase employment and decrease inflation, he said, citing a report by the U.S. Treasury which led to the Depression of the 1930s. "It would be difficult to deny that Reagan is a likable, amiable fellow," began Harry Shaffer, professor of history at the University of audience of about 75 in the Kangas' area. "We were supposed to be leading to freedom, liberty and possession—not just pursuit-of happiness, but something went wrong." he said. "Don't tell me that American business alone was a paradise if we leave it alone." The essence of Reagan's supply-side economics is that by giving more money to the rich, they will invest more "What it basically means is to feed him, so the sparrow can eat." Shafer said. and everyone will benefit from in creased production. Shafer said. However, tax cuts offered by Reagan will not motivate big business to invest, he said, because businesses base investment decisions on whether they expect to sell the products of increased investment. "What if we give a tax cut to Chrysler?" he asked. "They already can't sell the cars they are producing. Why would they want to expand?" DECREASED GOVERNMENT spending, the other side of Reagan's economic policy, is no solution either, said Shaffer, who called himself a "If private enterprise can't house and feed the people, the government must," he said. "The great social problems we need were in place to meet real needs." Darwin Daicoff, professor of economics and Kansas chief economist under former Gov. Robert Docking, said lost national tax revenue plus decreased federal spending in Kansas would total $105 million next year. "What we've done with the national economy is going to cost Kansas $105 million next year," he said. "Even the stable Kansas is hurt by $105 million." Other effects in the state next year will include slower employment growth, slower industrial expansion, higher relative costs to farmers and slower personal income growth, he said. Both Shaffer and Daicoff said Reagan, like Nixon and other Republican presidents, proposed a trade-off, inflation will come down, but at a cost of slightly higher unemployment. In fact, Daiceoff said, inflation could come down 1.5 percent, but it would cost 2.5 million Americans their jobs. It would give $120 billion worth of production. rather than halting inflation and increasing productivity by bringing interest rates down to inspire investment Daiocoff said. THE SOLUTION TO the current economic problem includes controlling He advocated a "tax-based incomes policy" that would reward business, for holding its prices down, and workers, for limiting their wage demands. Both predicted that Reagan's program for improving the economy would not work. "The president should say, 'If you're good, businessman, I'll cut your taxes,' Daicoff said. "There have to be more imaginative ways to reduce inflation than to increase unemployment." Dalcoff said the economy would improve, but only after becoming worse than the Reagan administration predicted. "Things will be getting better in 1982," Diaffo said. "But the question for every Democrat to ask is, relative to what?" VOTE COALITION DAVID FRANCKE MARK NOLLER DAVID CLAFLIN NUNEMAKER SENATORS FOR USE IN THE UNITED STATES ONLY TERRY DIRKS NEAT LOGO DESIGN GOES HERE Kansas coordinator for National Abortion Rights Action League Council Room, Union will speak on the NEXT TO SMOKEHOUSE LEGAL ABORTION So come in and check out our Turkey Rack Because at these prices, IF YOU DON'T COME TO MY STORE YOU'RE JUST PLAIN CRAZY! 723 MASS. VISA CURRENT THREATS TO Thursday Nov.19 at 8 p.m. SPORTSWEAR OUTLET National Abortion Rights Action League I'm Pro-Choice Do you know a turkey? Is your name Tom? Just come into the Sportswear Outlet and: 1) say "I wanna save a turkey." 2) say "I wanna save myself," or 3) just flap your wings and make some great gobbling sounds. ...and I VOTE! 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