Word: boom
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Dates: during 1960-1969
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...game of dice), once thought to be derived from the word for knucklebone, out of which primitive dice were made. Although Composer Cage was preaching the aleatory doctrine eleven years' ago (in his Imaginary Landscape No. 4, he conducted an ensemble that played twelve radios simultaneously), the big boom in music-by-chance has come only recently; summer festivals at Donaueschingen and Darmstadt perform it with enthusiasm...
Official Washington last week acknowl edged what most businessmen have long realized: there is no boom in view...
Behind the buying boom, as elsewhere in Europe (see below), is an employment boom. Unemployment, which once ranged from 9% to 2-2% of the working force, has remained around 2% since 1945. One-third of Britain's married women work. Even working teen-agers have become affluent; their per capita spending, not including board paid at home, is reckoned at about $11 a week...
...Golden Boys. So far the 1962 auto boom is big but bumpy. Not in years has General Motors been so strong or Chrysler so weak...
Hard Line. Worthington's line on inadequate profits is harder to buy. His comparison of recession-hit 1960 with the boom Korean war year of 1950 seriously distorts the profits picture. In fact, corporate profits averaged only 6.4% of the G.N.P. between 1945 and 1949 and since the end of the Korean War they have been averaging just under 5%. Moreover, industry's allotments for capital outlay are determined not just by profit margins but also by consumer spending patterns and by the amount of existing manufacturing capacity (most industries currently have more than they can use). Though...