Word: britain
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...timing was often terrible. When the U.S. was engaged in delicate negotiations with Britain about the future of Rhodesia, he said the British had "practically invented racism." Then he said there was just as much racism in Sweden as in Queens, N.Y. Then he said Presidents Nixon and Ford were racists, then that he himself was racist, which he defined as being unable to deal comfortably with people of another race...
That heresy shakes the almost reverential respect accorded by the profession to Britain's late John Maynard Keynes, the century's most influential economist. The belief of Keynes's disciples that governments often could manage economic affairs as efficiently and effectively as free markets themselves has been rejected by the accumulating research of the new economists...
...Britain, Margaret Thatcher's Tory government was swept into Office in May on a tide of popular fury at the dismal results of Labor rule and is now rapidly unwinding much of the high-tax, nationalized welfare state. Income tax rates have been reduced from a top of 83%, to 60%; a third of Britain's nationalized North Sea oil industry has been put up for private sale; and the government now has plans to sell off its shares of other state industries, including British Airways...
Despite the drop, the U.S. remains first in the international productivity league, but its lead is narrowing. Over the past ten years, nonfarm private productivity increased only 27%-the same as in Britain, but less than half as much as in France, West Germany and Italy and less than a quarter as much as in Japan. In 1950 it took seven Japanese or three German workers to match the industrial output of one American; today two Japanese and about 1.3 Germans do as well. Says Economist Arthur Laffer: "The U.S. is the fastest 'undeveloping' country in the world...
When that happens, Nigeria will have come full circle to the democratic system it inherited when it won independence from Britain in 1960. Since then, the country has had a shaky coalition regime, a short-lived parliamentary republic, three coups, a bloody civil war and the assassination of a head of state. Nigeria has simultaneously been afflicted by social and economic strains that have grown along with its wealth, which comes from its copious reserves of easily refinable "sweet" light crude oil. Largely because thousands of peasants have deserted their farms to seek bloated wages in booming Lagos, the country...