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...however, could not mask the fact that progress in the crucial area of consumer goods has been disappointing; shortages persist not only in autos, refrigerators and small appliances, but also in even such items as table crockery and knives and forks. Soviet planners have also been unable to correct chronic shortfalls in such basic industrial items as steel, coal, fertilizers, cement, paper and electric power...

Author: /time Magazine | Title: Soviet Union: Purposeful Budgetry | 12/26/1969 | See Source »

...require some extraordinary changes of attitudes among both businessmen and politicians. At the extreme, business may have to renounce its allegiance to all-out economic growth in order to halt the chemical and bacterial poisoning of air, land and waters. During the 1970s, the nation may also face a chronic shortage of capital to finance its seemingly boundless appetite for roads, airports, schools and many other projects. Continued inflation would disrupt the delicate mechanism through which most of the capital must be generated. Recession would force the U.S. to reallocate its resources to alleviate personal hardships...

Author: /time Magazine | Title: Business: THE RISING RISK OF RECESSION | 12/19/1969 | See Source »

...grand opening of the course that Jack built was spoiled by a gaffer named Arnold Palmer. For two years rumors have been circulating that a chronic hip ailment was going to force Palmer out of golf for good. His last victory came in September 1968; this year his game was so discouraging that he dropped off the tour in August for some rest and recuperation. "I've been doing 100 sit-ups a day," says Arnie. "Every so often I get a twinge in my hip, but it's not enough to affect my swing...

Author: /time Magazine | Title: Sport: The Course That Jack Built | 12/12/1969 | See Source »

...look on inflation as a temporary wartime phenomenon," said Irving Rose, president of Detroit's Advance Mortgage Corp., before a convention of mortgage bankers recently. "I regard it as the inevitable price of our national commitment to a full-employment economy. Hence, it is chronic. The fever may abate somewhat from time to time, but it will never...

Author: /time Magazine | Title: Business: TURMOIL IN THE CAPITAL MARKETS | 12/5/1969 | See Source »

...past five years-still plays a considerable part in shaping the country's social, intellectual and economic life. The nation's highly technical economy needs relatively few immigrant laborers; as rising unemployment indicates, there is not enough work for unskilled Americans. But with industry's chronic shortage of specialists, foreigners who have skills are in demand. The 1952 McCarran-Walter Act, which tied quotas to the national and racial elements already in the U.S., arbitrarily barred great numbers of blacks, Orientals and Southern Europeans, no matter what their skills. To right that inequity, and to satisfy...

Author: /time Magazine | Title: Labor: Where Have All the Busboys Gone? | 11/21/1969 | See Source »

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