Word: growth
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Dates: during 1960-1969
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...rise about 8% next year. But largely as a result of the Government's deflationary policies, industrial production has fallen for the past two months, and auto sales dropped in October. Profits are also sluggish. Most economists foresee a decline in earnings and little or no real growth in the gross national product during the first half...
...drop. The consumer who borrowed for a spending spree is paying off his debt in cheapened dollars; the consumer who saved instead is holding dollars that have depreciated. Today most economists believe that inflationary expectations can be conquered by a mild downturn in business. At a time of no growth, they argue, businessmen who hiked prices would lose markets. Complaints from customers annoyed by past increases last week caused Bethlehem Steel and Armco Steel to cut prices on some important products...
...ideas of economists and political philosophers. But there is no denying the rising vitality of the science in which he specialized. Almost every individual feels the impact of economic decisions-on his job, his income, his standard of living. The increasing impact of economics has been matched by a growth in its complexities. To help penetrate and interpret those complexities, TIME has formed a Board of Economists with eight members (see below), representing the major economic schools of thought. The board will meet four times a year with TIME's editorial staff, and the discussions will provide material...
HELLER: By 1971, I see us steaming back toward full employment and good growth. For the later 1970s, I am essentially an optimist. We will get back to a tolerable trade-off between unemployment and inflation, and we will again be growing in real terms at 4% a year. If we maintain our commitment to full employment and rapid growth, if we attempt to cope with the great social stresses and strains in our nation, it will be very tough to get the G.N.P. deflator consistently below 2.5%. We have to learn to live with something around...
...perfectly clear that we can no longer live by economics alone. Certainly the "New Economics" isn't enough, and the "Nixonomics" isn't enough. We need a new amalgam of social and economic considerations. It is not enough just to grow-it's a question of growth for what...