Word: capita
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Dates: during 1980-1989
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...economy now churns out one-fifth of the world's industrial production, including more steel and oil than any other country. But its per capita output of goods and services ranks below Italy's and is only half that of the U.S. The Soviet Union's reliance on exports of raw materials and imports of machinery, technology and finished products makes it appear more like a Third World nation than an industrial giant. Weaponry, including tanks, fighter planes and assault rifles, is almost the only manufactured product that is of high enough quality to be sold...
...last week, the generals surrendered power peacefully. Their decision was inspired by the fact that they were losing the ability to govern, even with out-and-out force. So the military limply gave up. Bolivia, with an annual per-capita income of only $550, the second lowest in the hemisphere after Haiti, s an economic mess. The output of wheat and cotton is running below the levels of he 1970s. Further, production of such minerals as tin, lead, gold, silver and zinc las been devastated by miners' strikes, and only one of the state-owned mining group...
...food production, has become a chronic importer of expensive grains, including the daily staple, corn. Prices for the country's traditional exports (coffee, tea, livestock products) have drastically fallen. Kenya is expected to run a balance of payments deficit of as much as $1 billion this year. Per capita income, only about $400 annually, is declining...
...broadest reason is apolitical: a slowing of population growth and a continuing rise in gross world product should mean that there will be more to go around. In the U.S., he offers the possibility of a $5 trillion gross national product in 2000 that would mean a per capita income of about $20,000. There is no prediction about how this wealth will trickle to 250 million Americans. There is guarded optimism about inflation. Inflation, of course, is very thinkable, though Kahn's thoughts on how to deal with it are fairly familiar. They include indexing, creative financing, energy...
...nation's economy would be crippled by the amendment. "We've been struggling to control the business cycle for 150 years, and we're finally getting better at it," says Senator Daniel Moynihan of New York. "In the 15 years ending in 1975, our per capita gross national product after inflation doubled. We were able to do it because we had the flexibility to iron out the inevitable wrinkles in the business cycle. The amendment would destroy that ability and subject us again to the feast-or-famine mercies of economic panics." Explains liberal Economist Walter Heller...