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Word: demands (lookup in dictionary) (lookup stats)
Dates: during 1970-1979
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Usage:

Economists, proud and powerful in the 1960s, now look like Napoleon's generals decamping from Moscow. Their past prescriptions ?tax tinkering and Government deficit spending to prop up demand, wage and price guidelines to hold down inflation?have been as helpful as snake oil. "Things just do not work now as they used to," says former Federal Reserve Chairman Arthur Burns, and who can contradict him? The U.S. economy, bloated and immobilized, has been turned topsy-turvy...

Author: /time Magazine | Title: To Set the Economy Right | 8/27/1979 | See Source »

...instead of investment for the future. Their fundamental warning: America has been living off, and eating into, its capital stock. Many of its factories and machines have become outmoded; its old industrial cities have become rundown; its work force has become less productive; real growth has swung low while demand has remained high. The nation is, in short, losing its economic edge in the world, and the hour is late?very late...

Author: /time Magazine | Title: To Set the Economy Right | 8/27/1979 | See Source »

...spiral since the Korean War, and certainly the most alarming one in the nation's history. Because competitiveness and efficiency have declined, and productivity growth, that most basic yardstick for measuring a nation's economic vitality, has slowed, the real cost of producing goods has jumped. Meanwhile, to keep demand up, the Government has created money and credit at far faster rates than businessmen can turn out products and services. The result: too much money chasing too few goods, which is a classic inflation. Largely because of the rapid expansion of money, the average household income is more than twice...

Author: /time Magazine | Title: To Set the Economy Right | 8/27/1979 | See Source »

...1930s, Establishment pillars of the dismal science have propagated Keynes' captivating notion that governments could tame beastly economies, making them stand up and jump through hoops. His prescription succeeded in lifting Western countries out of the 1930s Depression that had been triggered by an almost complete collapse in demand both in the U.S. and in Europe. Keynes' idea was simple enough: if people were so fearful of the future that they simply would not spend, government would have to prime the pump by doing much of the spending itself...

Author: /time Magazine | Title: To Set the Economy Right | 8/27/1979 | See Source »

...biggest dodge in the underground economy is carried out by people who may pay tax on part of their income but demand the rest in unreported cash, usually in convenient large-denomination bills. One sign of this trend is the fast rise in the number of $100 bills in circulation -some 382 million today vs. 267 million only three years ago. In addition to his regular job as a mechanic, Mike does bodywork on damaged autos in San Francisco for cash on the cylinder head and pockets $100 to $200 a month in undeclared income. Bob, a Santa Cruz, Calif...

Author: /time Magazine | Title: Business: Take Cash and Skip the Tax | 8/20/1979 | See Source »

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