Word: 1970s
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Dates: during 1960-1969
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...capita basis. This week the Nixon Administration will announce formation of the National Corporation for Housing Partnerships, a Comsat-style combination of Government and private industry. The corporation expects that its activities will add at least 10,000 new houses and apartments a year in the 1970s for families earning $8,000 or less...
...economy seems headed for its most expansive era yet in the 1970s. That was the message of a study presented last week by Martin Gainsbrugh, chief economist of the National Industrial Conference Board, a private center for business research. Two years in preparation by a dozen of the board's staff economists, the study projects remarkable advances in family income, now averaging $9,300. By the end of the next decade, the typical American household will earn almost $14,000 - in terms of today's prices - and enjoy a 40% increase in the real standard of living...
...grow by 4.5% a year during the '70s. One reason will be an unusually large rise in the labor force, the result of high birth rates in the late 1940s and 1950s. The labor force has been increasing by an average 1.2% a year, but in the 1970s it will jump 1.7% annually. In addition, continued investment in research and new plants should maintain productivity gains at the historic rate of 2.8% a year. Altogether, the gross national product, in terms of current dollars, should come close to $1.25 trillion by 1975 and $1.5 trillion...
Gainsbrugh warns, however, that these prospects for prosperity will prove hollow if inflation continues at its current rate of more than 4%. If it does, he says, it "could foreshadow a boom followed by a severe deflation later in the 1970s." Convinced that sensible Government policy will avoid such a crisis, he estimates that inflation will average 2% during the decade. Tending to reinforce his assumption, such economic barometers as industrial production and personal income have begun to level out under the growing pressure of high taxes, tight money and a budget surplus...
...later 1970s, NASA hopes to put up a giant "orbiting campus" that will remain in space for ten years, with twelve-man crews changing every six months. Eventually, the campus can be expanded to house a "faculty" of 100 U.S. and foreign scientists, including women as well as men, who would be ferried up and down by shuttle vehicles...