Word: economists
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Dates: during 1960-1969
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Last week, in the Soviet monthly Novy Mir, the Kremlin devised the subtlest ploy yet to put the bumptious Chinese back in their ideological place. Russia, too, wrote Veteran Soviet Economist Stanislav Strumilin, 83, plans to have agricultural communes-but not until 1980-85. And unlike Red China's jampacked, hardscrabble farms (see above), Russia's communes would be proletarian pleasure palaces whose 2,400 inhabitants would enjoy every amenity from lavish restaurants to beauty parlors for the ladies. Then, driving Nikita's stiletto deep into Mao's back, Economist Strumilin blandly opined: "Of course, such...
When 60-year-old Economist Hayato Ikeda succeeded hapless Nobusuke Kishi as Premier of Japan three weeks ago, a hopeful gleam lit up Peking's eyes. Though Ikeda, of course, was avowedly pro-American, he had once expressed enthusiasm for a revival of Japanese trade with China. Peking thought a little buttering up might...
Productivity is the economist's favorite -and often confusing-term to describe the amount of work a man does in an hour. What makes it misleading, and makes much exhortation on the subject so irrelevant, is the fact that the real increases in productivity often come not just from a man's working harder but from the use of laborsaving machinery and systems that help him to do his job better and faster. Such devices usually require fewer men, but often better skilled ones. Productivity thus is one of the key methods of gauging the economy...
...goes a Cuban story, Fidel was winding up a Cabinet meeting when a thought suddenly struck him. "By the way," he said, "I had to fire the head of the National Bank today. Anybody here an economist?" Che's hand shot up. "I am, chief," he said. "All right, Che," said Fidel, "you're president of the bank." The meeting over, Castro stayed behind for a private chat with Che. "Say, I never knew you were an economist," said Fidel. "Economist!" said Che, astounded. "I thought you said Communist!" The most interesting thing about the story is that...
Prosperity at home is still running high, and unemployment is a negligible 1.4% of the work force. But this is part of the trouble. Manufacturers find it all too easy to sell to the domestic market. When it comes to competing abroad, noted The Economist, "the British nowadays have an old fogy's habit of treating the sometimes brash, brassy and rather fanatical export drives of some of their main competitors as a superior sort of a joke...