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...believes that the inflation rate over the long run can be pushed down to about 3% a year, even as unemployment also declines. Pumping out more money to create jobs will not speed up inflation, he says, "because our economy is presently performing so far under capacity." The double-digit inflation of 1973-74, he says, was caused largely by a series of shocks that are not likely to be repeated: the quintupling of oil prices that followed the Arab embargo, frantic worldwide bidding for scarce commodities, two devaluations of the dollar...

Author: /time Magazine | Title: POLICY: Carter's Stand: Democratic Orthodoxy | 6/28/1976 | See Source »

...T.U.C.'s leaders accepted the austere pay formula, recognizing that failure to do so would almost certainly mean a continued double-digit inflation that erodes worker purchasing power faster than pay raises can keep up with it -the disease that has forced British governments into stop-go cycles of inflation and recession since the early 1960s. Exclaimed T.U.C. Chief Len Murray: "It is the best news for many a long day in Britain." Healey credited the agreement to public exasperation with inflation: "People got sick and tired of being paid in confetti...

Author: /time Magazine | Title: BRITAIN: The 4 1/2% Solution | 5/17/1976 | See Source »

...Udall's 18 per cent "was hardly a crashing mandate," in the words of one major liberal Democratic activist, particularly in view of the poor competition he received from his single-digit liberal rivals. His next primaries are not until April 6, and while he may win in Wisconsin, he has a long way to go in New York. Henry Jackson is superbly organized there...

Author: By Robert W. Gordon, | Title: Let Bygones Be Bygones | 3/23/1976 | See Source »

Rambling Interview. The real signs of trouble for the Trudeau administration came last fall, when persistent double-digit inflation and climbing unemployment forced the Prime Minister to adopt price and wage controls-a Tory proposal he had ridiculed in the 1974 campaign. The policy itself received overwhelming public support, but its imprecise application (changes in the rules are still being made almost weekly) angered and alienated both labor and business. Complained one top appliance-company executive: "How in hell can you make plans for production when you don't know what the policy really...

Author: /time Magazine | Title: CANADA: Trudeau's Troubles | 3/22/1976 | See Source »

...Unchecked, the bureaucracies spend money endlessly, causing double-digit inflation," Kelleher, who ran unsuccessfully for Congress from Montana's second district in 1968, says in his campaign pamphlets, some of which, not surprisingly, are in French. "Why not vote out the men who run them...

Author: By Robert T. Garrett, | Title: 'The People Have Spoken, the Fools' | 2/27/1976 | See Source »

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