Harry Truman Is Credited with the Statement, "Give Me a One-Armed

question 151

Essay

Harry Truman is credited with the statement, "Give me a one-armed economist," because economists are likely to say, "On the one hand, ...on the other hand." Why do economists "waffle" more than physicists or chemists?

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Definitions:

Forecasting

Predicting future events or trends, often using historical data and analysis methods.

Human Resource Planning

The process by which an organization ensures that it has the right number and kind of people, at the right place and time, capable of effectively and efficiently completing tasks that help the organization achieve its overall objectives.

Attrition

The reduction in the workforce due to employees leaving the company through natural means such as retirement or resignation, not including layoffs.

Employee Surplus

A situation where the number of employees exceeds the number of jobs available within an organization.