Word: grossness
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Dates: during 1960-1969
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...goes an old Wall Street saying. To the New York Stock Exchange, the pig that is trying to take too much money is the city of New York. The exchange has long been irked at the city's torrent of taxes-high real-estate taxes, occupancy taxes, gross-receipts taxes, state income taxes and state and city sales taxes. When
...Baby or Car?" But if Rumania brings up the rear in cultural freedom, it is nonetheless surging forward economically. With a growth rate of 13% annually, Rumania runs well ahead of the others, and even when measured by the solid standard of gross national product, it ranks fourth of seven: behind East Germany, Czechoslovakia and Poland, but ahead of Yugoslavia, Hungary and Bulgaria. In order to keep hopping on its canny leap forward, Ceausescu's regime relies on an abundance of natural resources-oil and timber, coal and untapped rural labor reserves. In other European countries, the supply...
...purchases-a shocking innovation in fraternal Communist economics. COMECON clearly needs reform, and Rumania's next target on the list of Communist sacred cows may well be the Warsaw Pact. Already, Rumania has unilaterally reduced obligatory service in its army from 24 to 16 months, and Rumanologist George Gross says it is "quite likely that the Rumanians (like the French in NATO) have balked at infringement of their sovereignty...
...sheer dollars, public philanthropy outstripped private philanthropy as early as 1929," says Henry T. Heald, newly retired president of the Ford Foundation. Now governmental philanthropy in education, health, welfare and economic development so vastly overshadows private giving that it accounts for no less than 10% of the gross national product. As Government continues to pick up projects pioneered by the private foundations, such diminished giants of good giving as the Ford, Carnegie and Rockefeller Foundations are taking a thoughtful new look at where to put their money...
...have pioneered the self-service supermarket, but the Swiss are leading the way toward putting it on the honor system. Last week the big Migros Federation (1965 gross: $450 million) announced that after a successful six-month trial in a suburban Zurich store, it was extending an honor-system checkout to other stores...