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Contemporary economic policies have attenuated, though not eliminated, the peaks and troughs of the business cycle. Recessions are not only unavoidable but often beneficial???despite the pain they cause some individuals?to society as a whole. They can purge the system of excesses, failed products and mismanaged companies. Since World War II such slumps have been less severe; social programs like unemployment insurance mean that they are not as painful as in the days of unbridled capitalism...

Author: /time Magazine | Title: Business: Capitalism: Is It Working...? Of Course, but... | 4/21/1980 | See Source »

Some molecular biologists envisage using laser beams to slice through DNA molecules at desired points, burning out faulty genes. These would then be replaced by segments of DNA tailored in the test tube to emulate a properly functioning gene and introduced into the body as artificial?and beneficial???viruses...

Author: /time Magazine | Title: Special Section: THE BODY: From Baby Hatcheries To Xeroxing Human Beings | 4/19/1971 | See Source »

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