Word: free-market
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...line with White House policy. Not only was he a longtime economic adviser to Nixon, but he had also served as Dwight Eisenhower's Chairman of the Council of Economic Advisers from 1953 to 1956. Burns was an early student of the importance of business cycles in free-market economies, giving him a curriculum vitae that had all the earmarks of a man with the business community's interests at heart...
...banned smoking at Cabinet meetings, and Lord help the luckless minister who is discovered leaking a secret to the press. In domestic policy, the Premier has moved rapidly to cut through his country's well-entrenched bureaucracy and replace the semisocialism of past Labor governments with free-market reforms...
...sold across interstate lines but 2) raise the ceiling from $1.47 to $1.75 per thousand cubic feet (m.c.f). That scheme made it through the House, but the gas industry's friends in the Senate wanted to abolish controls altogether, which would leave the price to be set by free-market forces. Byrd plumped for Carter's bill. He sensed, however, that he would lose in the Senate, which would vote to lift price ceilings. Nonetheless, he figured that any decontrol measure would later be undone by the House when the time came for a compromise on a final...
...night did some good," he said. "Psychologically, it made us all realize we had to find a solution." The one he found was a proposal by Henry ("Scoop") Jackson to raise the price ceiling to $2.03-higher than the Carter plan but lower than what decontrol advocates figured the free-market price would be ($2.75 to $3.25). Byrd won the approval of Abourezk and Metzenbaum for the Jackson compromise. But the Senators who favor decontrol refused to go along. To block the compromise -and prevent a move to freeze prices at the current ceiling-they began their own talk fest...
...present, the big companies control each stage of the petroleum process: pumping, transport, refining, marketing. Blair would break them up into companies specializing in only one phase of the petroleum process. Ideally, each company would then haggle over price each time the oil changed hands and would thus unleash free-market forces that would push prices down...