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...given the fact that its authors were largely blue-chip businessmen and bankers,* Money and Credit does contain one major surprise: it goes remarkably far toward endorsing existing Government regulation of the economy and asking for more of the same. Despite numerous individual dissents, carefully registered in footnotes, the report tacitly accepts as economic orthodoxy many of the countercyclical theories of the late John Maynard Keynes-notions that most businessmen rejected in New Deal days and that many still do. Explains Commission Member Gaylord A. Freeman Jr., president of The First National Bank of Chicago: "The report reflects what...

Author: /time Magazine | Title: Public Policy: Unwelcome Necessity | 6/23/1961 | See Source »

...work, and I am ready to jump off the balcony." Instead, he paints through the morning. After lunch and a rest, he sets off at a brisk pace for a solitary walk on the steep roads near his house, stopping to examine a leaf, a butterfly, a chip in a wall. During the day he smokes just three cigarettes. He works until exactly 9:30 at night...

Author: /time Magazine | Title: Art: Pam! Pam! Zang! Zang! | 6/2/1961 | See Source »

...time when the frontiers of freedom are under constant attack abroad, I believe that the national interest requires that we resist such programs which would chip away at the freedoms we enjoy at home...

Author: /time Magazine | Title: Republicans: Now Is the Time . . . | 5/12/1961 | See Source »

...Toynbee views history in terms of religion, or the Marxists in terms of class conflict, Manhattan Book Dealer Henry ("Chip") Chafetz views it in terms of Lady Chance. How did an Indian squaw pick her brave? By how good a gambler he was; otherwise she and the kids might find themselves the pawns of a sharper peach-stone roller. What did Thomas Jefferson meditate on while composing the Declaration of Independence? His losses at backgammon, cards and lotto. Who caused the Great Chicago Fire? Not Mrs. O'Leary's cow but Mrs. O'Leary's crap...

Author: /time Magazine | Title: Books: Legerdemain & Quick Gun | 5/5/1961 | See Source »

...whittle away at Player's lead. He turned the front nine in 33 and gained back a stroke. Player's deftness with a pitching wedge (riddled with holes to lighten its weight) let him take only eleven putts on the first nine-but he misjudged a chip shot on the loth, and Palmer was only two strokes back...

Author: /time Magazine | Title: Sport: Player Under Pressure | 4/21/1961 | See Source »

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