Word: growth
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Dates: during 1960-1969
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...suited the underworld's needs perfectly. The Hudson River separated its members from the tough law enforcement of New York racketbusters like Fiorello La Guardia, Thomas Dewey and, more recently, Frank Hogan. Neither police forces nor local government had caught up with the state's sudden population growth. To make matters worse, officials were only too eager to accommodate the free-spending gangsters...
...most of those propositions that get widely accepted, is a half-truth," he argues. The two goals conflict over brief periods when an economy is shifting from one rate of inflation to another, he concedes. But over any period of five, ten or 20 years, says Friedman, fast economic growth and full employment can be meshed with stable prices...
Economists tend to agree on the business profile for 1970: a rise in jobless ranks to 4¼% or 4½% of the labor force; 4% price inflation, probably tapering off toward year's end; sluggish 2% real growth in the over-all economy, which will expand from $933 billion to $985 billion or $990 billion. A few sectors of business anticipate substantial difficulties. Auto manufacturers (except Ford) have already curtailed production a bit, and some retail merchants figure that they will have to hustle to maintain their sales volume. "The consumer is beginning to stiffen up," says Ralph Lazarus, chairman...
...task is to put an end to polluting the environment. "We are debauching the country," he says. Meeting such new goals will plainly require some extraordinary changes of attitudes among both businessmen and politicians. At the extreme, business may have to renounce its allegiance to all-out economic growth in order to halt the chemical and bacterial poisoning of air, land and waters. During the 1970s, the nation may also face a chronic shortage of capital to finance its seemingly boundless appetite for roads, airports, schools and many other projects. Continued inflation would disrupt the delicate mechanism through which most...
...Real Growth Inflationary Total Growth Unemployment (in billions) Growth* Average Peak...