Word: growths
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Dates: during 1970-1979
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...Social Limits To Growth, economist Fred Hirsh contends that this paradox illustrates a profound change. In a modern affluent society, biological needs for life-sustaining food, shelter and clothing are easily met. People instead become preoccupied with status. Incentives, Hirsch, claims, become social, not material, in nature...
...basis for much of the development of economic theory, resulting in enormous advances in our ability to understand social phenomena and history. Consequently, economics established its primacy among the social sciences. In the past generation, big economic numbers--gross national product, personal disposable income and the rate of growth--have dominated electoral politics throughout the industrial world...
Thornton F. Bradshaw '40, president of the Atlantic Richfield Company and a member of the Kennedy School's visiting committee, said yesterday, "Whether the growth in government pleases us or dismays us, there is little reason to believe that the trend is going to be reversed. Big government, for good or for ill, probably is with us to stay...
...sets; West Germany is seeking to set quotas on Japanese ball bearings; France bars Italian wine; and Italy in May tightened restrictions on imports of Japanese motorcycles and parts. Some economists put much of the blame on protectionist measures in Europe and the U.S. for cutting the rate of growth in world trade almost in half, from 11% in 1976 to an expected 6% this year...
...stop progress in the talks, and a U.S. Treasury official adds, "If we erect another trade barrier, the whole future of free trade as we know it is in jeopardy." If the Geneva talks fail, it is easy to foresee a truly vicious circle: protectionist moves further restrict the growth of global trade, keeping expansion of the world economy slow and unemployment in industrial nations high, provoking still more protectionist fervor...