Word: investers
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Dates: during 1960-1969
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Jean Baptiste Say, an early 19th century French economist, contended that economies were destined to function smoothly, and that slumps or excesses would be self-correcting because the production of goods created exactly the amount of income needed to buy those goods and to invest in facilities to produce more of the same. Despite persistent unsettling booms and busts, economists accepted that notion as gospel for more than 100 years-until Keynes smashed it by explaining that, in the absence of government action, demand can fluctuate sharply since not all wages are spent and not all savings are invested...
...government itself has spent millions on Nordeste roads, irrigation and other projects. Under Brazilian law, individuals are offered exemptions of up to 50% of their taxable incomes for investments in Nordeste communications, farming and industrial projects. So anxious is the government that corporations are allowed to take half of their tax debts, invest the money in the Nordeste. What with other government sweeteners, including long term, very low interest loans, it is quite possible to set up a $1,000,000 Nordeste enterprise with only $50,000 cash...
...forbidden to ride in white trains, buses or taxis, to use white public restrooms, attend white churches, send their children to white schools, even to sit on park benches bearing the insulting words Slegs vir blankes (For whites only). They may spend their money in white stores and invest in the stock market, but to mail a letter they must enter the post office through a separate door and buy their stamps at a separate window. "South Africa," says Laurence Gandar, editor in chief of Johannesburg's Rand Daily Mail, "is a nation that has lost...
...afflicting the nation's entire economy. Perhaps the most remarkable thing about the 1966 market is that even the small-time stock buyer, though uneasy, has refused to panic. Instead, he is playing the game with considerable cool. Says a Milwaukee schoolteacher: "Most of the people I know who invest have job security. We're only losing profits now. I'm not going to chicken out." Says Boston Physician Dennis Slone: "When I look around and see the demands of the people for goods, I feel there is nothing to worry about. Anyone who drops out of the market...
...plot demands nothing of audiences except that they remember the definition of a tontine, a sort of lethal lottery: the families of 20 English youngsters each invest ?1,000 in a fund, and some 80 or 90 years later, the last survivor takes all. Two brothers, played with tireless bravura by John Mills and Ralph Richardson, are the champions of longevity, and their efforts to outlive each other lead to a hilarious family reunion in which Mills tries to do away with his sibling by poison, stabbing, strangling and flying crockery...