Word: amounting
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Dates: during 1950-1959
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Most economists of stature smile at the administered-prices argument. John Kenneth Galbraith, Harvard economist, author of the currently popular The Affluent Society, and in no sense an apologist for business, takes the line that a large amount of administered pricing is inherent in the modern economic system. Says he: "Those who deplore it are wasting their breath. The problem is to understand it and to live with it." The overlooked truth that Galbraith and others come back to is that businessmen today cannot operate on prices that run up and down like a boiler-room thermometer. They have...
...first two months of 1959, a time of year ordinarily considered unproductive by fund-raisers, the Program has gained $3 million. Much of this amount, Pusey said, came from additional gifts by those who had already responded generously...
Harvard's total payroll of $32 million last year exceeded "the sum of the payrolls of the six leading industries of Cambridge," Pusey continued. Although much of this sum is paid to employees who live--and spend--outside of the city, and "impressively large" amount of it, over $101/2 million, is paid to Cambridge residents...
Does this outpouring mean credit is being used to excess? Bankers think not. Their delinquency record is minuscule; the recession's trough produced few deadbeats. Ben H. Wooten, president of Dallas' First National Bank, told the credit conference: ''Private credit has not been abused. The amount outstanding today is not excessive in relation to our ability to service...
Smog-Reducing Gasoline. Tidewater Oil Co. put on sale in Los Angeles a new-formula gasoline which, it says, cuts the amount of smog-forming hydrocarbons released into the air from motor exhausts on new cars, gas pumps, etc. Price: same as other higher-grade gasolines...