Word: effect
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Dates: during 1970-1979
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...role in the region: I feel that the Sino-American Mutual Defense Treaty was important to the Republic of China [Taiwan] and also to the U.S. For the good of the U.S. as well as the republic, this treaty should be kept in effect. But President Carter has already announced his intention to terminate it at the end of this year. Congress has passed the Taiwan Relations Act, saying that the U.S. continues to be concerned about the security of the republic. I think that is very important in terms of the U.S. strategic position in this part...
...items are sold by "distributors," who are in effect door-to-door salespeople and earn a 30% profit on volume. Usually people with other jobs, they join Amway for extra income. They buy their wares from higher-level "direct distributors," who also sell door to door. Regular distributors are urged to become direct distributors themselves, and they do so by recruiting, training and supervising new salespeople. Though the direct distributor is not paid for signing up these recruits, he does make additional money by selling Amway products at a slight mark up to the distributors under him. To keep sales...
...afford (few could without insurance: total payments to doctors and hospitals will work out to more than $3,500 this year for a typical family of four). But the system could hardly have been better designed to fan inflation than if that had been its purpose. It has in effect repealed for medicine the last vestiges of the law of supply and demand, a free market equivalent of the law of gravity, and made health care a market of weightlessness: what goes up keeps going...
...unjustified surgery, unnecessary hospitalizations, unneeded tests and an unwillingness even to consider costs do no one any good. The time is past when the nation could accept the resultant inflation as an inevitable side effect of good health; the price is simply becoming too high...
Under this year's bill, hospitals would be given until Jan. 1, 1980, to show that they can voluntarily hold down the increase in their costs. Controls would go into effect only if hospitals fail to keep their average annual increase to 9.7%, plus an adjustable figure to compensate for general inflation. That is hardly a stingy rise. Even so, more than half of the nation's nearly 6,000 community hospitals, mainly those in small towns and in states with effective cost control laws already on the books, would be exempt from controls. The country's 1,200 other...