Word: demand
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Dates: during 1960-1969
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...broadest terms to date. "This could be done de facto," said Vance. "It could be done by some indication, either directly or indirectly, that such a step is being taken." Hanoi's delegates refused to accept that gambit, but Radio Hanoi implicitly met a longstanding U.S. demand that North Viet Nam acknowledge the presence of its troops south of the Demilitarized Zone. Said a broadcast People's Army statement monitored in Hong Kong: "The peoples and armies of our whole country will continue fighting shoulder to shoulder to firmly inflict ever heavier blows and ultimate defeat upon...
Although the unions demand a 9% pay increase as against the railroads' offer of 3%, the heart of the dispute involves a more basic issue. The unions have flatly rejected management's effort to link wage increases to productivity agreements-a step Britain's Labor government calls essential to revive the country's sick economy. Similar labor strife has poisoned industrial relations across the U.K. Most of the jet fleet of British Overseas Airways Corp. lay idle at Heathrow Airport last week because of a strike by 1,050 pilots, who demand that their salaries...
Both business and Government rely more and more on computers to predict future needs. It is therefore ironic that the computer industry itself vastly underestimated the demands for its products (44,400 computers are at work today, v. a 1954 estimate that 50 would be). Computer makers are now a chronic 25% behind partly because they cannot stock an inventory, partly because they have underestimated the demand for their own product. There are classic examples of underestimation in many other important areas...
...lesser degrees, other aspects of the economy have long been equally underestimated. Industry misread the demand for electronic equipment, xerography, synthetics and plastics. Government underestimated not so much the demand but the need for improved expressways, bridges, air-pollution controls, airport facilities, and the roads and devices that will make congested city traffic move more rapidly. Recreational facilities are in short supply because everyone underestimated the combined impact of increased leisure time and higher disposable income; to tee off for a game of golf on weekends has become a long and frustrating process, as many golfers can attest...
Estimating population trends is one of the most critical points for both Government and business, since this involves broad questions of social needs and consumer demand. Even at the height of the population explosion, the U.S. population rate was one thing that forecasters were able to project pretty well. Now, with the advent of the pill, economists may find it more difficult to plot future family formations accurately until a new pattern is established. And it is perfectly possible that pill makers may yet underestimate demand for their product...