Word: frugality
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Unsold Autos. The most frugal buyers next year will probably be auto firms, airlines, textile makers and producers of "white collar" office equipment like computers. Electric utilities will hold their expenditures to about $17 billion next year, little changed from 1974; yet because of inflation, their outlays will be down in real terms for the first time in years. Most forecasts agree that the biggest spenders in 1975 will be coal, copper and other mining companies, which plan to increase their capital outlays by a dramatic 40%, to $4 billion, the petroleum industry (up 35%) and iron and steel firms...
...FLEDGING adolescent a few years back I attempted to allay my middle-class guilt by adopting a philosophy of romantic asceticism. By keeping a frugal eye on my role as an American consumer, I was able to escape the mental anguish of coming from a financially comfortable family. At the same time I could strike a self-satisfying pose of identification with the underprivileged of the world. Only three things, I reasoned, justified any type of expenditure--books, records, and travel. These principles allowed me to obtain material happiness (books, records, and travel being all I really desired) while simultaneously...
...ethos of economic advancement. More importantly, neither a traditionally democratic capitalistic society, nor a democratic socialist society could cope with a growing body of science and technology, or burgeoning industrial growth--strict controls would have to be imposed. "In place of prodigalities of consumption," says Heilbroner, "must come new frugal attitudes." Of the utmost consequence, however, are the inevitable strictures on civil rights to which either form of socio-economic system will have to resort...
Harvard has been extremely frugal in its dispersal of money for improvements in buildings it does not own, and Radcliffe has neither the money nor the obligation to foot the bill itself. Radcliffe also is at least a little proud and wants to maintain an appearance of limited control over her Houses...
...France, with costly social reforms to pay for, needs a growing economy. West Germany, on the other hand, has been cooling its own successful economy in order to curb inflation, which is now running at a relatively modest rate of 7.1%, thanks in part to high interest rates and frugal public spending. Trouble is, the tight money situation in West Germany affects Giscard's hopes for an expanding French economy because it means a shrinking German market for French goods, as well as a more aggressive effort by West German industries to export goods in order to offset slack...