Word: downward
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Dates: during 1970-1979
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...late '60s and early '70s the city fairly smelled of rage; the 1974 film Death Wish-about a white liberal turned vigilante-revenger -received a certain amount of sneaking sympathy at the dinner parties of the white middle class. Since 1976 the Anger Quotient has gone steadily downward. A decrease in violent crimes has been partly responsible. A walker in Central Park is as likely to be overrun by joggers as assaulted by muggers. New York has the fifth highest major crime rate among the ten largest cities in the nation, behind Houston, Dallas, Los Angeles and Detroit...
...economic group dominated by the West Germans would end up with conservative fiscal and monetary policies that would severely limit economic growth. Another fear is that the ECU, once established, would invite speculators and governments from Togo to Turkey to dump dollars for the ECU currencies, thus bringing more downward pressure on the dollar. Economist Robert Triffin, a U.S. monetary expert who has long championed a European currency, believes that it would help rather than hurt the dollar's stability in the long run. The final form of the common European money system remains uncertain, but, said Federal Reserve...
...quarter of a century of strong, sustained expansion from 1948 until the oil price increases of 1973 has given way to a period of sluggishness and high inflation. Walt W. Rostow, who was one of Lyndon Johnson's chief aides, argues that the world has begun a new downward turn on the Kondratieff Cycle. In the 1920s Russian Economist N.D. Kondratieff theorized that capitalist economic development proceeds in up-and-down waves of 50 to 60 years each, which are determined by the confluence of invention, investment and trade. As Rostow explains it, the elements that caused the postwar...
...have got more of a reaction than he bargained for. In a seeming shift in tactics at week's end, the White House began sending forth signals that it was going to temper its rhetoric in dealing with the East in the hopes of reversing the downward cycle of détente...
DIED. Sir Robert Gordon Menzies, 83, Prime Minister of Australia for an unprecedented 16-year span (1949-66), who founded the Liberal Party and took a firm stand against the "downward threat" of Communism; of a heart attack; in Melbourne. The son of a small-town grocer, Menzies always had "a respect for the rights of the top dog." He was never a popular leader, but he towered above his colleagues as a magnificent orator and consummate politician. Nevertheless, his first term as Prime Minister, from 1939 to 1941, ended with a sweeping victory for the Labor Party. He made...