Word: belief
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Dates: during 1960-1969
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...last week's indictments. Crime and corruption have long been blatantly evident in what may well be the Mafia capital of the U.S. After the city's bloody 1967 race riot, for example, a special Governor's commission laid much of the blame to "a widespread belief that Newark's government is corrupt...
...belief appears to be well founded. City officials and police are casually assumed to be on the take. Last year Newark Police Director Dominick Spina was indicted for "willful failure to enforce antigambling laws." His acquittal did nothing to convince Newarkers that their city was well policed...
...Professor J. S. Henslow of Cambridge, a botanist, led to Darwin's recommendation as the Beagle's naturalist. Chance, plus a certain amount of charm, determined that he hit it off immediately with the Beagle's hot-tempered Captain FitzRoy, a Tory traditionalist with a fundamentalist belief in the literal truth of the Book of Genesis...
Most economists also follow the teaching of Britain's late John Maynard Keynes, who articulated how changes in taxes and government spending can stabilize business cycles. The philosophy of Keynes, who died in 1946, has dominated the economic policies of industrial nations since World War II. Today's prevailing belief, however, is a hybrid; most economists now consider themselves "Friedmanesque Keynesians." Having risen from maverick to messiah, Friedman ranks with Walter Heller and John Kenneth Galbraith as one of the most influential U.S. economists of the era. Heller, who was chairman of the President's Council of Economic Advisers under...
INFLATION. Friedman challenges the popular theory that full employment and price stability are incompatible. "The belief, like most of those propositions that get widely accepted, is a half-truth," he argues. The two goals conflict over brief periods when an economy is shifting from one rate of inflation to another, he concedes. But over any period of five, ten or 20 years, says Friedman, fast economic growth and full employment can be meshed with stable prices...