Word: cent
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With 90 per cent of Poles practising Catholics (more young people are going into the priesthood than ever before, and the vitality of religion is underlined by huge outdoor folk Masses and an incredible number of new church buildings), the Church's traditional role as a focus for national sentiment is being linked with that of a natural and legal focus for an alternative structure of allegiance to that of the Communist Party. While the pulpit remains uncensored, though priests sign human rights petitions and the Primate and his fellow bishops criticize the government on social issues, the regime...
...selection of an arbitrator followed a two-day work stoppage that cancelled an estimated 75 per cent of classes at both university campuses...
...open, and gradually modernize the plant. The government's other choice is to pay the estimated $75 million in unemployment and increased welfare benefits over the next three years in Youngstown alone. Alperovitz puts it this way: A corporation would never be satisfied with a 3 per cent return because it could make 8 or 10 per cent elsewhere. But owners from the community or workforce mainly want the jobs--profits matter only in so far as they help pay for modernizing. It's the classic case of the counter-productive profit motive...
...project also concerns counter-productive profit motives, in regards to inflation. Contrary to Keynesian and neoclassical theory, Alperovitz believes government budget deficits have had little to do with the inflation of the past six years. The four necessities--food, housing, energy, and health care--account for over 80 per cent of inflation, he maintains. In health care, for instance, there is no check on greed--third parties, the insurance companies, pay for most treatment, and doctors and hospitals charge whatever the "market" will bear. The result: spiraling insurance premiums and profits, soaring medical costs, and inflation. The only possible solution...
...notion of combatting inflation by contracting the money supply. Since inflation is primarily structural, the supply of money has little effect on prices. But it has tremendous effects on the construction industry and the housing market. When the Fed tightens money, interest rates zoom (up to 10 per cent at present), and people can't afford to borrow money to build or buy housing. Construction workers go on welfare, real estate values skyrocket, and you just get more inflation...