Word: 1960s
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Dates: during 1970-1979
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...today's world economy is quite an order, even for a pragmatist. On other occasions, Kennedy has seemed to be harking back to a 19th century form of liberalism. In his New York speech, he said: "We are making a clean break with the New Deal and even the 1960s. We reject the idea that Government knows best across the board, that public planning is inherently superior or more effective than private action. There is now a growing consensus, which I share, that Government intervention in the economy should come as only a last resort...
...1960s, under Chief Justice Earl I Warren, the Supreme Court fashioned I a goad for social progress out of two 14th Amendment phrases-due process and equal protection of the laws-with specific application to civil rights and criminal law. Liberals praised the court for championing the rights of the traditionally powerless-blacks, the poor, criminal defendants. Others denounced it for excessive zeal and social meddling...
When Britain in the 1950s and the U.S. in the 1960s tried to bolster their sagging balance of payments by forbidding companies to export pounds or dollars to build plants abroad, businesses evaded the controls by borrowing in the Eurodollar market. The amount of Eurodollars available for borrowing sharply increased after the 1973-74 jump in oil prices. Members of the Organization of Petroleum Exporting Countries, unable to spend their petroprofits fast enough, began parking many surplus dollars in banks outside the U.S. Cartel members now have $74 billion in these Eurodollar deposits. Bankers also started lending large amounts...
...about the price of lettuce. South Africa is an important issue, but people haven't shaken their fists enough about inflation," he says. If they do, then Cabot believes the government could launch a crash energy development program that would spur the economy, like the space program in the 1960s...
...competition between intellectual magazines has little effect on general public opinion. Podhoretz' analysis underplays the spontaneity of political actions. If, as he submits, we act only when gripped by ideas, how can he explain the riots by blacks in Watts in the summer of 1965? His view of the 1960s denies both social and economic factors, and accounts unsatisfactorily for political eruptions. Any celebration of intellectuals must remain within bounds. When Podhoretz exaggerates the efficacy of intellectuals he is really Breaking Ranks...