Word: caution
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Dates: during 1970-1979
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...Caution, confusion and cynicism are perfectly natural from the businessmen's viewpoint. They have too often been disappointed by premature forecasts of prosperity by Washington's erstwhile prophets of boom. "I'm prepared to be optimistic, but I think there is a significant credibility gap between the economic forecasts and reality," says Colt Industries President David Margolis...
Inventories are not expected to hit exuberant levels for some time because of lingering caution. Beyond that, computers have helped corporations more finely to mesh their purchases of supplies with their production needs. Says Otto Eckstein, a member of TIME'S Board of Economists: "Inventory growth will be relatively low for the year-about $6 billion, compared with the $11 billion growth that would be normal when coming out of a recession." President Nixon, in his Economic Report to Congress last week, projected inventory accumulations of $8 billion for the year and a moderate 8% rise in consumer spending...
...feel as free to advance hypotheses as they wish, whatever the evidence (or lack thereof) may be; but when dealing with propositions so monstrous and destructive to human relations and the cause of human dignity as that of hereditary racial inferiority, let this freedom be tempered by the utmost caution and sense of responsibility. In the case of your Atlantic article this, it seems to me, would have called for a careful and extensive discussion of the existing lack of evidence on point (2) and of the considerable difficulties in overcoming it. I do not claim that my morals...
...link between prosperity and highway mortality has been known to experts for decades, but nobody has yet figured out the cause. Economic decline, for example, does not bring a drop in the number of miles driven. A reasonable explanation might be that recessions breed a general mood of caution that is reflected in driving habits, while upturns induce expansive feelings that may tempt some drivers to recklessness. But that is only speculation, and has not been substantiated by any studies...
...annual crop of desktop evergreens and water cooler wreaths attest, Christmas permeates every branch of the workaday world. In this holiday season, however, office parties, business gifts, Christmas cards to customers and year end bonuses to employees are not as pervasive as in previous years. Caution about the economy, confusion over Phase 11, and a generally rising level of employee sophistication have combined to produce a crunch that is taking away those Christmas extras...