Word: free-market
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...past five years, Chinese Leader Deng Xiaoping has instituted sweeping economic reforms, moving away from rigid state controls and closer to the free-market system. Capitalism advanced a step further last week when the government announced that price controls in Peking would be lifted on more than 1,800 food items, effectively raising their costs by some 50%. The price reforms had already been introduced in 22 other cities and autonomous regions...
...crisis has forced a measure of reform. A limited free-market system is now in place, permitting farmers and fishermen to sell off surplus food for profit. As a result, one industrious vegetable grower in the North earns five times as much as her office-worker son in Hanoi. In 1983 Viet Nam managed to feed itself for the first time in years. Though owning pigs is illegal in Hanoi, many of the capital's residents raise swine with loving care; a single butchered porker can bring in as much as a well-paid salaried worker earns in a year...
Meanwhile, the Soviets have benefited from the Americans' free-market habits. The ten-acre U.S. site in Moscow will not be finished until 1988, but the Soviets' new Washington embassy compound was virtually complete by 1979. Explains a U.S. official: "American contractors have an incentive to finish as soon as possible. There are no similar incentives in the Soviet Union." The U.S. refuses to allow the Soviets to complete the interior of their new building and move from their old ornate brick embassy four blocks from the White House until Soviet crews finish the American facility in Moscow...
...both sides, partisans are waging the battle with nearly religious intensity. The free-market fervor of the Administration's supporters is matched by the devotion of many of its critics to the medium-size family farm, not just as an economic interest but as the foundation of a clean and virtuous way of life that must be protected. Says Grassley: "It's almost a public utilitarian value to maintain the family farm. It's basic to the humanitarian responsibility of Government...
...considerations," explains Egger. "Prices in real estate became of no concern. Tax benefits were being sold." Decisions in business, Egger points out, "should be based on economics, not on taxes." The overhaul proposed by Treasury, says Tax Scholar Charles McLure, who was a principal draftsman, is "a free-market manifesto." Ronald Reagan is a client...