Word: important
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Dates: during 1980-1989
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...bored clerks chat idle hours away. Auto showrooms are deserted, and understandably so: a Volkswagen Rabbit sells for 800,000 pesos, more than double the 360,000 of last summer. Ford, GM and Chrysler have stopped including fancy U.S.-made electronics in their Mexican-built cars to get around import restrictions...
...answer many have seized on to decrease unemployment is imposing import restrictions. Motorcycle tariffs have been increased elevenfold. A House subcommittee passed a "domestic content" bill dictating that American cars must be made with 90 percent American materials, and the major Democratic presidential contenders have all endorsed protectionism in some form. The tragedy of "Buy American" is that it is at best a placebo--temporarily increasing job opportunities without providing real growth--and at worst a lethal measure, as other countries retaliate, choking off the 30 percent of our economy dependent on exports...
Pyle said that some Mason-fellows are so impressed with what they have learned about management that they want to import their favorite courses lock, stock, and barrel. One former minister in the Burmese government upon returning home from his year as a Mason fellow persuaded his government to establish a K-School course on microeconomics as part of the curriculum at the University of Rangoon. He wired the Kennedy School and asked for the entire course packet to be sent special delivery...
...spending, Greenspan suggested, might come from curbing Medicare benefits to people Other high incomes. Medicare is expected to cost $79 billion in 1986. Other prime employees include pension and disability payments for federal employees ($27 billion in 1986), income support for farmers ($13.4 billion) and loans from the Export-Import Bank to foreign customers of U.S. businesses ($3.8 billion...
...abstraction. Reason: governments routinely subsidize key industries to give them an advantage in international trade AFL-CIO President Lane Kirkland has made this case by proposing-in jest, but with a serious message-his Free Trade, Antiprotectionism and Antihypocrisy Act of 1983. The law would prohibit Americans from buying imports at prices that have been subsidized in any way by foreign governments or influenced by anything other than free-market forces. "For the first offense," the bill says, the perpetrator shall have his right hand severed at the wrist." This law, Kirkland implies, would quickly eliminate the U.S. import problem...