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Nobel Laureate Paul Samuelson identifies another source of trouble: the power of unions and companies that makes them largely independent of market pressures. To take an egregious example, unemployment among aerospace engineers???or even hardhats?does not affect the behavior of the monopolistic construction unions, which rigidly control access to jobs and concentrate on seeing to it that any of their members who remain at work are well paid. Similarly, Samuelson notes, the law of supply and demand does not exert the same effect on giant companies that it once did on small producers in a simpler economy...

Author: /time Magazine | Title: Business: Inflation's Stubborn Resistance | 12/14/1970 | See Source »

...pays farmers to drain wetlands, for example, the Interior Department pays to preserve them. Worse, the farm-subsidy program encourages the misuse of toxic chemicals, one-crop farming that destroys ecological diversity, and mechanization that drives jobless rural laborers into packed cities. Federal highway builders, the Army Corps of Engineers???all such official land abusers?need retraining in ecological values...

Author: /time Magazine | Title: Environment: Fighting to Save the Earth from Man | 2/2/1970 | See Source »

...discussion with us is not concerned with adjusting himself to truth, if he has no wish to find the truth, he is intellectually a barbarian. That, in fact, is the position of the massman when he speaks, lectures or writes." Even highly-trained specialists?scientists, financiers, doctors, engineers???behave like barbarians in spheres outside their specialty. Result: "The direction of society has been taken over by a type of man who is not interested in the principles of civilization...

Author: /time Magazine | Title: Books: Today's Tyrant | 9/19/1932 | See Source »

...status of Secretary Good's three major current problems?Army economy, flood control, finding a new Chief of Engineers??? was last week as follows...

Author: /time Magazine | Title: National Affairs: No. 3 Man | 9/2/1929 | See Source »

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