Word: equality
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Dates: during 1950-1959
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...mainspring of this economic expansion is population. Right now, U.S. population is in the midst of its greatest buildup of the 20th century. By 1975 it can reasonably be expected to reach 221 million-an increase in 20 years equal to its total gain during the first 40 years of the century. Expanding apace with this lusty market, the U.S. economy should continue to create more and more jobs...
Last week the U.S. Department of Agriculture issued a new, granary-bulging forecast of crop prospects for 1955: the harvest for all crops this year is expected to be 6% above last year's and to equal, if not exceed, the record yield of 1948. Bumper production is anticipated in corn (17% over 1954, and the second-largest crop in history), oats (8% higher than 1954), sorghum grains (up 30%), hay (up 5%), soybeans (up 23%), cotton (30% above the average yield), wheat (5% above the latest forecast) and peanuts (50% above last year...
...Unequal Equality. Finance Minister Ichimada has decided to cancel the favorable tax deal given foreigners since 1951, make everyone pay the same stiff tax as Japanese. While that sounds fair, U.S. businessmen in Japan complain bitterly that the treatment they get is far from equal. Though many Japanese businessmen make big salaries, ride around in Cadillacs and spend freely, only a handful (400 in 1954) declare salaries as high as $15,000 a year. An executive in a big firm may declare a weekly salary of $100-and pay taxes on it. But his salary is only the beginning...
RUSSIAN AUTO INDUSTRY will be shaken up in an effort to equal Western standards. After years of putt-putting along with four out-of-date models-the Moskvich (like a 1939 German Opel), the Pobeda (like a 1939 Ford), the Zim (like a 1946 Buick) and the Zis (like a 1941 Packard)-the Reds admit that their postwar designs "are in some respects inferior." A special Auto Ministry will be set up to boost production (1955 planned output: a bare 80,000 cars), cut prices, bring out a new people's car called the Volga, facelift the others...
...some of the stock, we would be willing to buy more." Full control might be hard to come by, but Bulova was expected to try to get it by trading Bulova stock for Tiffany shares at a ratio that would give a Tiffany stockholder about $64 a share, almost equal to the book value...