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Rifkin argues that political democracy is contingent on what he calls "economic democracy." He points to the fact that one per cent of the adult population in this country owns 72 per cent of all corporate stock as a principle index of how uneven the benefits of economic organization are. Moreover, "the 200 largest business corporations also control two-thirds of all of the manufacturing assets in the U.S.," making them "each giant fiefdoms" and giving them disproportionate economic and political power. The real enemies, though, are those families--like the Mellons, who have substantial holding in ALCOA, the Mellon...
...turned decidedly upward. Last week, in a bullish performance typical of many since the beginning of the year, the Dow Jones industrial average spurted 29 points to 819, a high for the year, before backing off to 808 on Friday. Still, that was 230 points above the widely watched index's twelve-year low of 578 last Dec. 6. In little more than four months, the average has retraced more than half of its precipitous drop from the alltime high of 1052 in January...
Recent studies of leave-takers have found that they resemble the rest of their classmates in grades, honors. House affiliation and virtually every statistical index. One exception is that a slightly greater percentage of leave-takers plan to find jobs after graduation, rather than to go on to graduate schools...
...trading partners, but last week President Ford proclaimed that "the recession is receding" and confidently predicted a recovery starting in the third quarter of 1975. He could cite some good news: manufacturers' orders rose for the first time in six months, and the wholesale price index in February dropped 0.6%, its fourth straight monthly decline. Unemployment, however, which is a lagging indicator, rose to 8.7% in March from 8.2% in February, bringing the number of Americans out of work to 8 million. In addition, the Labor Department disclosed, 1.1 million discouraged jobless workers have simply stopped looking...
...Jews will never be safe until they have a homeland of their own. By 1902 he had pledges of 3 million francs. He grandly talked of purchasing territory in Cyprus, even Uganda. But Israel remained his true destination. It was an idea more than a place. Elon's index includes the category "Arab situation (Palestine), Herzl's ignorance of." Yet his instincts were empathetic. When a great Arab landowner offered to sell a huge tract, Herzl was reluctant to buy. "We cannot displace these poor fellahin, "he explained...