Word: contenders
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Dates: during 1970-1979
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Observes Bruce MacLaury, president of the Brookings Institution, which is no longer quite the hotbed of Keynesianism that it once was: "It has been hard for the Keynesians to contend that their prescriptions are the way out of stagflation. Ultimately, they are forced to admit that Keynesian techniques just bring forth inflation and not real growth. They answer that the solution is wage-price guidelines or another form of an incomes policy, but that is a very weak reed to lean...
...tome is a 651-page text, Macroeconomics, by Dornbusch and Stanley Fischer, 35, both professors at M.I.T. Published in 1977, it has become the largest selling advanced economics text. The authors' central thesis reflects the new economists' nagging uncertainty about the omnipotence of their own profession. They contend that the complex computer models used to predict the effects of specific economic policies or actions simply do not-and cannot-reflect the way the real world behaves. "What will be the magnitude of reaction to a broad tax cut?" asks Dornbusch. "Will people spend the money at once? Will...
...Cabinet is composed of 16 Christian Democrats, six representatives from the small Social Democratic and Liberal parties, plus two unaffiliated technocrats. For parliamentary survival, it will have to depend on nothing more solid than the grudging abstention of Bettino Craxi's unpredictable Socialists. It will also have to contend with the opposition of Enrico Berlinguer's still powerful Communists. As a result, Cossiga hardly is in a position to make major decisions to deal with Italy's daunting problems of 15% inflation, 7% unemployment and nearly chronic terrorism...
...story-adapted from two plays by German Pre-Expressionist Frank Wedekind-unfolds in swift, biting scenes (given fine clarity by Arthur Jacobs' translation). The mysterious Lulu is a dancer, an amoral enchantress, perhaps a force of nature. She first rises through society, then falls disastrously, as lovers contend for her elusive soul and all too accessible body. Throughout the opera, a large portrait of her hangs onstage-one of Berg's many specifications that were sometimes ignored in the past...
...best waves, of course, are found in Hawaii. But experts contend that Florida in the wintertime approaches Hawaii in excellence and argue that San Francisco Bay is "the Aspen" of wind-surfing because of its challenging winds and strong waves. Other highly touted places include the mountain lakes of the Sierras, Buzzards Bay off Cape Cod, the Gulf Coast of Texas, the Great Lakes and the lakes of Minnesota...