Word: growth
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Dates: during 1970-1979
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...Paris-based Organization for Economic Cooperation and Development, which comprises the world's 24 leading non-Communist nations, also issued a grim forecast, and on an even larger scale: a rise to $26 per bbl. would cut nearly 1% off its members' economic growth, reducing it to stagnation at best, and push OECD inflation up from an earlier projected 9% to at least 10%. Largely as a consequence of the oil increases, the organization now expects unemployment in its member nations to rise from just under 17 million to a full 20 million...
...strident hardliner, Iraq tried to be a middleman in the power struggle between extremists and self-professed moderates. Its oil minister, Tayeh Abdul-Karim, suggested that a relatively modest floor price be established, but that it increase automatically every three months in line with world inflation and the economic growth of Western nations, a proposal that won only limited support...
...Their growth prospects evaporated largely because many industries became increasingly outmoded and continued to lose their edge in global competition. America was living off its accumulated capital stock, a consequence of its people's unwillingness or inability to save and invest. While the U.S. spent scarcely 10% of its national income on new factories, mines, tools and transportation systems, its allies and competitors the West Germans and the Japanese were investing 15% and 16.2%, respectively, of their incomes in such capital goods. One result: U.S. productivity, which had risen an average 3% a year in the 1960s, declined...
...over Chicago, the poisons seeping into the Love Canal. The frustrations of economic theory were revealed by the inability of the disciples of John Maynard Keynes, the British economist whose market-manipulating philosophies have dominated policymaking since the 1950s and 1960s, to deal with the stagflation realities of laggard growth, runaway prices and receding productivity in the post-industrial...
...rulings that triggered such growth were three 1976 U.S. Supreme Court decisions holding new discretionary capital punishment statutes-in Georgia and in two other states-to be constitutional because they provided adequate guidelines to prevent arbitrariness. At that point, almost a decade had elapsed since a convict had been put to death. Since then, three have been executed, two of whom refused to cooperate in lawyers' efforts on their behalf. As appeals for others run their course, there could be more executions...