Word: instrument
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Galvan, a reknowned socialist, said the current monarchy in Spain is an "instrument of transition" from the previous dictatorship to an "advanced democratic state." The problem is setting the limits of this "advanced state," he added...
...derives its imagery from the historical spaciousness of the land (God's country, after all, his bounteous land grant, the interminable individualist homestead unfolding toward the horizon) and the simultaneous need for shelter that its harshness imposed. A people so socially and geographically mobile used housing as an instrument to trumpet their wherewithal, their substance, their civic presence. They have sometimes nearly impoverished themselves to anchor their identities in their homes. In a 1920 magazine serial called "More Stately Mansions," a social-climbing wife pouts and wheedles her husband: "Dickie, I've simply got to have...
...condemns laissez-faire capitalism because it reduces man to an instrument of production, but praises "worker solidarity." The socialization of some means of production cannot be ruled out, he says, but converting them into state property may be unsatisfactory because socialism often produces "excessive bureaucratic centralization," which exploits the worker as if he were "just a cog in a huge machine." John Paul feels that adaptations of property rights, including "joint ownership of the means of work, or sharing by workers in the management and/or profits of businesses," may be the most desirable course...
DIED. Edwin Link, 77, inventor of the Link flight simulator, a device used to train millions of military and commercial airline pilots for instrument landings; of cancer; in Binghamton, N.Y. A seasoned pilot at age 25, Link built his first simulator in 1929 and, as the head of Link Aviation from 1935 to 1954, went on to produce trainers for radar, gunnery and space navigation. Starting in the 1950s, he helped to develop a series of manned ocean explorers, including the first practical submersible with an exit hatch to allow divers to explore the ocean floor at far greater depths...
Savings institutions saw the A.s.C. as a potential bonanza that could yield $250 billion in new deposits, and they began offering the big interest bonuses as a way to sign up customers early. The key to the deal that the bankers used was an obscure financial instrument known as repurchase agreements or repos, which are short-term loans to financial institutions backed by Government securities. Early A.s.C. depositors were actually buying part of a repo with their money, and the funds were to be turned into an A.S.C. automatically on Oct. 1. Repos are currently paying a return of about...