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...that a lie?" Adler pursues, index finger resting on chin. Then he continues: "Because a lie consists in saying the opposite of what is true. Now let me ask you another question. Have you ever made an erroneous statement?" Jokes Garrick: "I just did when I said 'subjective reality.' " Adler takes the idea a step further. "Let me give you an example of an erroneous statement: There are three mountains on the Eastern Shore of Maryland more than 5,000 feet high." The students laugh at such an absurd notion. Poking the same index finger on the table...

Author: /time Magazine | Title: In Maryland: Adolescents, Aristotle and Adler | 6/22/1981 | See Source »

Many American economists now predict a reduction in inflation to around 8% by year's end, and growth in real terms of a modest 2.3%. Said Brittan: "A lot of the relative optimism depends on a quirk in your Consumer Price Index, which can show substantial short-term fluctuations with little change in the underlying rate of inflation." The annual core inflation rate in the U.S., which is closely linked to wage rates, is now about...

Author: /time Magazine | Title: A Timid Recovery for Europe | 6/15/1981 | See Source »

...last quarter of 1980. The small surplus in world petroleum markets is now keeping a tight grip on oil prices, and that will remove one of the key causes of recent inflation (see box). Homeownership costs, which account for about one-fourth of the consumer price index, are up from a year ago, but the increases are tapering off because sales are slow. Good crops and heavy livestock production so far this year should moderate food price increases in the months ahead. Finally, a stronger U.S. dollar will make the costs of imported goods lower and keep pressure on domestic...

Author: /time Magazine | Title: The Outlook Brightens | 6/1/1981 | See Source »

...Beginning in 1982, the annual cost of living increase in benefits, which is based on the Consumer Price Index, would be paid out in October rather than July each year. Based on a projected inflation rate of approximately 8%, this three-month delay would save the Government about $3 billion in fiscal...

Author: /time Magazine | Title: A Slash at Social Security | 5/25/1981 | See Source »

...making dramatic speeches to packed audiences of edgy moneymen. When he furrows his brow and speaks in slow, solemn tones, the markets often quake. Early last year he told a group of bankers that the U.S. was "lurching toward a national economic emergency." That same day the Dow Jones index dropped 18 points. One day last week bond prices rallied, in part on the rumor that Kaufman was turning optimistic, only to lose momentum when the story proved to be false. Kaufman believes in personal as well as financial discipline: he has no hobbies and rises regularly...

Author: /time Magazine | Title: Those Bad News Bears | 5/25/1981 | See Source »

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