Word: firsts
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Dates: during 1970-1979
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...midst of the uproar, while the Shah calmly set up housekeeping at his new haven, U.S. officials in Washington were trying to determine how his abrupt departure from the U.S. would affect the plight of the hostages. An answer soon came from Tehran, and then another and another. First, in their 74th communique of the crisis, the militants holding the U.S. embassy bluntly declared that "to reveal the treacherous plots of the criminal United States and for its punishment, the hostage spies will be tried." The same hard line was reflected in a banner headline by the newspaper Islamic Republic...
...same fate as his predecessor, Abolhassan Banisadr, who was fired as Foreign Minister after 18 days of service because he seemed too conciliatory about the hostages. For the rest of the week, the normally loquacious Ghotbzadeh made no more public statements. Said a longtime associate: "It is the first time that Ghotbzadeh has not fought back when attacked." Added a Western diplomat in Tehran: "By all appearances, we are back to Square...
...wage and price controls, and that any attempt to do so would be disastrous. With the exception of Beryl Sprinkel, who figured that there is almost a 50% chance that the President will go for controls, most board members gave that prospect only a 20% to 40% chance. Carter first would need congressional authority and, as the debate raged on Capitol Hill, businessmen would rush to raise prices to get in under the wire. Further, board members argued, controls would not affect three major sources of price increases: OPEC; Federal Reserve Chairman Paul Volcker, who does so much...
...year for anybody earning $25,900 or more. The Board of Economists expects that, in all, taxes will be cut by about $30 billion, including a reduction of some $10 billion for business, probably in the form of liberalized depreciation. Though such a move would increase the deficit at first, it would soon after pay dividends. By helping to sharpen the nation's efficiency, it would combat many of the problems that the U.S. economy encountered in a year of troubled change...
...such capital goods. One result: U.S. productivity, which had risen an average 3% a year in the 1960s, declined by more than 1%. There were other reasons for this deterioration in production per hour worked. Among them: the heavy burden of Government regulations, the entry of so many untrained first-time workers into the labor force, and the decline of research and development, in part because managers have concluded that inflation makes the payoff too distant, too uncertain. Turgid productivity, which aggravated inflation and contributed to the debauch of the dollar in world markets, is as serious as any problem...