Word: boom
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Dates: during 1970-1979
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...already created a business boom, and not everyone is hurt by the price increases. Some farmers, for instance, have discovered that if they can hold part of then-produce off the market at harvest time, they will soon get higher returns. Merchants who can procure scarce products are making bigger profits than ever before. One Massachusetts merchant who owns several privateers reports that profits of 100 percent on sugar and 150 percent on linen and paper are "more than common." Jonas Philipps of Philadelphia says that European goods command a profit of 400 percent there...
...boom has already wiped outmost vestiges of the deep downturn that hit the industry about the time of the Arab oil embargo in late 1973. At the bottom of the slide early last year, about one-fifth of the industry's work force-some 273,000 assemblers, draftsmen, accountants, middle managers -were out of work. Now auto joblessness is down to 30,000 and still dropping. Even so, the industry cannot produce the most popular models fast enough to satisfy demand. Inventories that for some makes hit a 150-day supply in early 1975 are now down...
Auto Sales. The sweetest figures so far this year have been in retail sales. In April they climbed 14% above a year earlier, and now they are about 10% ahead of 1975. Pacing the boom is the dramatic pickup in auto sales, which are now racing at an annual rate of 9.2 million and show every sign of outdistancing even the most optimistic projections, to hit 10.6 million for the year, v. 8.2 million in 1975. Last week Detroit reported that auto sales for the ten days ending May 20 were up an impressive 53% over last year...
...Marxism or the Machiavellian method of dictatorship to a historical study. Reasons of State concentrates instead on portraying the myriad cultural changes in Europe and America that resulted from the First World War. The upheaval of the Jazz Age is transmitted to Latin America, where because of an economic boom, they build hideous skyscrapers, dance to "Yes, We Have No Bananas...
Brazil provides an example of economic development within these limits. Brazil is heavily indebted to foreign investors, but the ready availability of cash and consumer goods had produced a boom and an "economic miracle" for the upper middle classes. This wealth has not reached the working classes, peasants and Indians, whose living standards have in fact declined in the past few years. The use of torture and repression in Brazil as a form of government through intimidation has become standards. Stability-cum-repression has become a common theme throughout most of Latin America...