Word: costly
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Dates: during 1960-1969
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...have been sharing technological ideas since the Imperial Navy ordered them to do so before World War II. They have produced such innovations as computer-controlled cutting torches, self-propelled welders and devices that can flip over 80-ton subassemblies to make welding easier. These have helped reduce building costs from $91 a ton for a 100,000-d.w.t. tanker to $68 for a 300,000-tonner. Even the Japanese see an economic limit; they estimate that a 500,000-d.w.t. ship would cost them...
...cost of borrowing money has been rising rapidly ever since the Federal Reserve Board decided last December to get tough about inflation. Last week the deliberate squeeze on credit pushed many interest rates to the highest levels since 1929, causing considerable anxiety among bankers. Many moneymen fear that one more turn of the Federal Reserve's monetary screws might, as the Bank of America put it, cause "serious disruption in the financial markets and create conditions that would generate a recession...
Surprisingly, local products are often the least attractive buys of all because of local taxes-or because shrewd sellers reckon that in-transit passengers will think that a local product is obviously a bargain at any price. A quart of V.S.O.P. cognac, $5 at Ireland's Shannon airport, costs $6.30 at Paris' Orly. In Belgrade, a bottle of "Manastrika" slivovitz is $2.50 at the airport and $1.50 in town. Thousands of passengers eagerly buy watches at Swiss airports, where they are not duty-free and cost about 10% more than at downtown watchmakers. German-made cameras, tape recorders...
...begin, an often quoted figure is that the University's expenses have tripled in the last ten years. This is misleading because during their period government contracted and funded research rose eight-fold to 55.4 million dollars. This cost Harvard virtually nothing but it makes the budget look much bigger and distorts how much costs have really risen. Delete this amount and the real (non-governmental) expenses increased by 122 per cent, not 200 per cent (from 43.2 million dollars to 96.0 million dollars...
...first installment I showed that Harvard's student body is remarkably undiverse. It is decidedly weighted toward upper incomes and upper classes. The two reasons for this were shown to be: (1) the high cost of coming to Harvard and the increasingly inadequate scholarship program, which de facto discriminates against lower and middle income groups; and (2) conscious admissions policies. The first of these arguments is entirely, and the second partially, based on the assertion that Harvard is caught in a financial squeeze which means it must accept largely people who can pay for their education now and can support...