Word: industryâ
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...only engine that has been developed so far that encourages people to be highly innovative, to develop new products and processes." Profit-seeking capitalists have developed all the vital machines of "postindustrial" society. In contrast, centrally managed economies have rarely done well at developing civilian high-technology industry???largely because inventors lack incentive. In socialist economies the same lack has led to appalling shoddiness in many of the services that provide life's amenities...
...price of a stock and wildly distort P/E ratios. Aerovox Corp. earned a grand total of less than 30¢ per share in the last four quarters, but its stock still sells at about 13½ per share, giving it a P/E of 50, because it is in a growth industry???electric and electronic components. Though Superior Oil earned only $1.06 a share in 1971, it sells at a ratio of 251, largely because the market places a high value on its enormous reserves of oil in the U.S. and Canada. Only investigation can determine whether any stock's P/E ratio...
HAVING always professed their faith in know-how, Americans have built empires of technology unparalleled in the world. The largest and for at least 25 years the most exciting of these has been the aerospace industry???the high-performance, high-speed realm of planes and missiles. Each year it has received barely conceivable billions from the national treasury, and each year its products seemed to transport Americans higher, faster and farther than ever before. After the U.S. Senate voted last week to shoot down the supersonic transport, which would have been the costliest commercial product in the nation's history...
...Chancellor said that he has given not "risky relief" but "stimulating relief" to Britain. "Railway traffic, bank clearings and retail trade all show a steady rise," continued Mr. Chamberlain. "The index of production in the building industry???a good barometer?has risen to the record figure of 181, taking 1930 as 100. Imports of raw materials have increased. These are all hopeful pointers." By implication Chancellor Chamberlain attributed them to his Treasury policies which he aptly summed up as "always keeping in the forefront the necessity of maintaining confidence...
...after himself. The Cord, jokes the automobile industry, is just an Auburn running backward. But Errett Cord, the industry admits, is still a Cord running forward. At the Show last week was to be seen a new Auburn V-Twelve with at least one exclusive device novel to the industry??? a dual ratio rear axle operated from the dashboard. From a 4½-to-1 ratio in high speed a touch on the button steps the car up to 3-to-1, giving great speed and smoothness on flat straight stretches. Able to do 100 m. p. h., priced...