Word: free-market
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...would intervene in world money markets to shore up other currencies, presumably selling dollars and buying, say, francs or pounds. Secretary of the Treasury Donald Regan said this would be done only "if there are disorderly market conditions." That did not entirely satisfy the Europeans and Canadians, who would prefer frequent intervention to keep exchange rates fairly stable-so that they would not need to raise their interest rates to protect their currencies. But they viewed it as a substantial concession, since the U.S. had long objected to intervention out of free-market principle. Said West German Finance Minister Manfred...
Democratic capitalism embodies three elements: a free-market economy, a political system based on individual rights, and a moral pluralism that respects different cultural goals and beliefs. Such social philosophers as Max Weber (The Protestant Ethic and the Spirit of Capitalism) and Daniel Bell (The Cultural Contradictions of Capitalism) have contended that these elements are often in conflict, and that a liberal society must balance the competing forces of democracy, economic freedom and social justice. Not so, answers Novak. Capitalism and democracy complement one another. They are inevitable outgrowths of the same moral tradition, and it is no accident that...
...more direct and effective cutbacks will probably be needed if the economy is to avoid careening out of control. But it is uncertain whether the soft-spoken and shy Shagari will be politically able to take the necessary steps. Shagari's free-market oriented National Party of Nigeria came to power in 1979 after elections ended 13 years of military rule. Since then, Shagari has pressed ahead with a program of rapid industrial and social development that cannot now be rolled back without alienating Nigerians...
...diverted distribution of a drug that will cure leprosy to use instead in treating tennis elbow. The jokes range from the incisive to the tasteless, and even the racist and antiSemitic. An Op-Ed column headlined COLORED PEOPLE MUST SUFFER TO PROSPER is signed "Thomas Soweto," deftly mocking the free-market views of Thomas Sowell, a conservative black economist who contends that racism is not the major cause of economic deprivation for blacks. Help-wanted ads have executives soliciting young male proteges and "preteen women...
...Reagan Administration, though, was not apologizing last week for its economic policies. In fact, it was preaching its free-market program to the less developed countries. Said President Reagan to the 11,000 central bankers and financiers: "The societies that have achieved the most spectacular, broad-based economic progress in the shortest period of time are not the most tightly controlled nor necessarily the biggest in size nor the wealthiest in natural resources. No, what unites them is their willingness to believe in the magic of the marketplace...