Word: consensus
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...Organization for Economic Cooperation and Development, an association of 24 industrialized countries: "Americans are finding some of the answers in some body's garage, but Europe has no such free market in industrial ideas. Europeans are trying to figure out how to reconcile change with their desire for social consensus...
...expansion of a formerly tightly knit group offered enlarged economic possibilities, but also hampered cohesion. The original spirit of joint sacrifice splintered in frequent acrimony, especially after the two oil-price shocks of the decade weakened West European economies. By the early '80s, the once solid NATO consensus on defense also came under strain as a result of the drawn-out missile-deployment drama...
...billion over three years, but only if the economy realizes some rosy assumptions: a growth rate of 4% over the next 3½ years, inflation holding at 4% and a steady decline in interest rates to 5.5% from the current 9.5%. By contrast, Stockman pointed out, the consensus forecast of top private analysts is for 2.9% real growth, moderately higher inflation and significantly higher interest rates. If the "nation's 50 leading business forecasters are correct," Stockman dryly concluded in his Stock Exchange speech, the result would not be deficits declining toward $100 billion by 1988 as projected by the Senate...
...President Reagan continues to press for an international consensus on how to deal with terrorists. Addressing a meeting of the American Bar Association in Washington last week, he challenged what he called "a confederation of terrorist states ... a new, international version of Murder, Inc." Said the President: "The American people are not--repeat, not--going to tolerate intimidation, terror and outright acts of war against this nation and its people. And we are especially not going to tolerate these attacks from outlaw states run by the strangest collection of misfits, Looney Tunes and squalid criminals since the advent...
...dollar about to collapse? No consensus exists among experts. Trade Official Bale does not anticipate a crash, but Rimmer de Vries, chief international economist of New York's Morgan Guaranty Trust, is less sanguine. Says he: "If there is loose monetary policy and no budget compromise, confidence in the dollar would be destroyed." Other economists envision a slower but inexorable fall. Stephen Marris, a senior fellow at the Institute for International Economics, warns of a deep decline in the dollar's value extending over two to four years. As a sign that the dollar's slide will probably not turn...