Word: adamancy
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Dates: during 1980-1989
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...familiar stride of Adam Dixon was a welcome sight in the 800-meter event. Dixon ignited the crowd by resting in dead last until the gun lap, when like a vision of Dave Wottle, he switched into high gear and accelerated all the way to the finish line with another meet record...
Captain Bob Horne had no problem with Mark Jeffrey, outplaying him to the tune of 6-4, 6-3. Adam Beren looked like he had the easiest match of the day, trouncing Greg Hartman...
...might be tempted to say: What else is new? The free enterprise system has been constantly questioned and condemned ever since that absent-minded Scots professor Adam Smith, another revolutionary of 1776, enunciated its basic philosophy. But today's doubts are deeper and the assaults more virulent. They come not only from capitalism's old critics but from its longtime champions. Leftist Economist Robert Lekachman of the City University of New York declares: "The central economic fact of our day is the declining vitality and élan of capitalism and capitalists." And Chrysler Chairman Lee Iacocca also says: "Free enterprise...
...serious business slumps or steep unemployment, has built an inflationary bias into society. Managers and workers have become confident that the state will intervene to stop any sharp business decline. Thus, instead of restraining wage or price demands when the economy slows, companies and unions continually push for more. Adam Smith maintained that each individual seeking his own profit would promote society's good, as if guided by an "invisible hand." But the late economist Arthur Okun argued that the comfortable relationship between Big Business and Big Labor has led to an "invisible handshake" that lifts both wages and prices...
...same time, the right overall Government policies and strategies are necessary. Nobody is demanding that the state revert to the minor role that Adam Smith envisaged for it, which would not even include operating a nation's canals. All capitalist countries have mixed economies that combine some free-market features and some government controls, depending on practical needs, tradition and political trends. But there are sharp new questions about the mix. Says Jan Tumlir, chief economist of the world trade organization GATT (General Agreement on Tariffs and Trade): "The 1980s must be a period of rethinking the functions of government...