Word: debted
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Dates: during 1960-1969
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...American romantics of the '60s shared with their forerunners a vision of profound, if unspecific change that would regenerate mankind. In urging the abolition of the common law in England and the repudiation of the national debt, Percy Bysshe Shelley, according to Historian Crane Brinton, "saw nothing between himself and his dream." A poetic-minded radical of the '60s, Carl Oglesby, described the comparable Utopian stance of today's revolutionary: "Perhaps he has no choice and he is pure fatality: perhaps there is no fatality and he is pure will. His position may be invincible, absurd, both...
...Romanticism, "what emerges in the real world is not the mythical will to brotherhood but the ego and its fundamental will to power." Yet romanticism also reconfirms the value of the individual. In many ways, the movement expands personal freedom, and the strength of liberal democracy owes a considerable debt to 19th century romantics, who championed civil liberties and extension of the suffrage...
Though they know little of the workings of their own operation, all of the button sellers have memorized and repeat in monotonously pious tones the fact that New Mobe is $70,000 in debt and needs its dollar per button to survive...
...while those who pursued prudence have been punished. The businessman who raised his prices in recent years lost few if any customers but increased his profits; the businessman who did not raise prices saw his earnings drop. The consumer who borrowed for a spending spree is paying off his debt in cheapened dollars; the consumer who saved instead is holding dollars that have depreciated. Today most economists believe that inflationary expectations can be conquered by a mild downturn in business. At a time of no growth, they argue, businessmen who hiked prices would lose markets. Complaints from customers annoyed...
...cities can be sufficiently expropriated for urban services. Again, this is not the case for New York or most other major cities. New York City can onlyuse those taxes delegated to it by the State, and then, in many cases, only up to certain rates. This applies to debt limitations as well...