Word: contend
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Many more mills may close-and much earlier-if the strike of 15,000 iron-ore workers that began Aug. 1 drags on. Though the industry is governed by a much praised agreement that bans strikes over "economic" issues, the miners contend that their demand for incentive pay (mainly bonuses for exceeding production norms) is a "local" issue, about which strikes are permitted. For now, mills can feed their blast furnaces with stockpiled ore, but if the strike continues another three or four months-and it could-they would start to run short...
Some builders regard the M.I.T.-Harvard study as excessively gloomy. They contend that income is not the only measure of whether a family can afford to buy; huge numbers of people own houses that they can sell at a profit and use the equity to help buy another. The median-priced new house is out of sight for millions of people, but by definition, half of all houses are priced below the median. Even young first-time buyers can usually find something in the lower price ranges, though often it will be much less house than they dreamed about...
...second Person of the Trinity, who became God in human flesh. The seven theologians consider this belief "a mythological or poetic way of expressing [Jesus'] significance for us," not literal truth. The old doctrine was formulated to express faith in Jesus within a Greco-Roman culture, the authors contend, but in modern times it just will...
...They contend such tactics do nothing to root out inflation's basic cause. Even so, many economists believe that to be effective, the White House will have to take a much firmer stand against Big Business and Big Labor. Says Harvard Economist Otto Eckstein, a member of TIME'S Board of Economists: "Quite honestly, at the moment I don't think the Administration's got an anti-inflation program." Unless the White House gets tougher, some economists fear, the job of restraining prices will fall to the independent Federal Reserve Board and its Chairman Arthur Burns...
...perk up the sluggish world economy is for the relatively well-off nations to buy more from depressed countries by either revaluing their currencies (to make imports cheaper) or expanding their economies faster (to increase demand for foreign products). The main reason for the big U.S. deficit, Treasury officials contend, is that the American economy has been growing at a much more rapid rate than its trading partners in Europe, South America and Asia. As a result, while markets for U.S. products have remained soft, American demand for imported goods has intensified. Foreign oil alone will cost...