Word: directer
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Dates: during 1970-1979
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...Volcker's approach, however, finance men and bankers now saw not just another quick fix but a direct assault on inflation itself. Said West German Finance Minister Hans Matthöfer: "The package goes straight to the heart of the problem." Brussels Banker Roland Leuschel expressed a conviction shared by almost all European moneymen: "Throttling back on the money supply itself will be much more effective than raising interest rates in the fight against inflation. Paul Volcker is attacking inflation at its source...
...ought to tighten money, but holy smokes, not necessarily to the extent of knocking the props out from under profits." Still, the chaos in the markets deflected attention from the more fundamental significance of the Federal Reserve's moves, particularly its shift toward management of the money supply through direct controls instead of manipulation of interest rates. Conservative Economist Alan Greenspan describes this development as "by far the most important and significant change in U.S. monetary policy in a generation," and others concur. Says Carter's chief economic adviser, Charles Schultze: "Whether you like it or lump it, this...
Methods aside, McMahon draws on a more direct connection between his work as a professor and his writing. Gordon McKay, protagonist of McKay's Bees, is a familiar name in Harvard science departments. About 50 scientists, including almost the whole faculty of Engineering and Applied Sciences Department, owe their livelihood to his very large endowment. McMahon, one of the flock, pays tribute with his novel--"90 per cent of the book is lies about Gordon McKay," he says, though the last chapter, in which McKay returns to Cambridge, makes a fortune in shoe manufacturing, and befriends several Harvard faculty members...
...frustration of seeing her works banned, Gordimer protests she falls far short of Rosa's ideal. "I've never been named, and wouldn't be (naming is a form of punishment less severe than banning, but which restricts movement and visits). People are named as a result of direct political activity. It takes a lot of courage to do that," she says...
...original U.N. Convention on Genocide, passed on December 9, 1948, states the issue clearly, Genocide, "an odious scourge," is a crime committed "with intent to destroy, in whole or in part, a national, ethical, racial or religious group..." This convention was the direct response to Nazi mass murder. At the time, the 1946 resolution against genocide and the convention were viewed as vital components of an international prevention of this crime. As Allen Barth noted in 1948, this concrete stance against evil was necessary because the Holocaust was an event that "the human mind finds it difficult to remember...