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Bower: Let me come out in a different direction. My concern is that I think we know fairly well what is needed in order to have a competitive economy. On the whole, you have to suppress consumption, you have to encourage savings, and then you have to invest selectively in those industries and companies where the returns are highest. My sense is that all central political instruments are designed to do the opposite. They are designed to redistribute in order to achieve some equity. And they are extremely sensitive to the perfectly legitimate needs of interest groups of various kinds...
...does a preacher with murky credentials draw a crowd in jaded New York City? Simple. You field a corps of 2,000 tireless, polite young buttonholers who spend weeks offering people free tickets. Invest $300,000 on publicity for the one-night stand-far more than Billy Graham has ever spent for an eight-day crusade...
...shareholders who want to extend their investment reach beyond the basic telephone business have another option. Last week Prudential-Bache formed a new mutual fund that allows them to trade in their stock for shares in a new telecommunications fund. The fund plans to sell off 90% of the phone company shares and invest the proceeds in such businesses as satellite communications...
...others. Charge for the service: 25? per share. For the short term, many analysts are advising Ma Bell's widows and orphans to wait until next year to get a clearer view of the new companies and gain a better idea of where they want to invest their money...
This dual challenge to gain both credibility and attention, members agree, makes hard work the crucial ingredient. It is needed for both widespread student support and devoted membership willing to invest time week after week in doing what has never been done at Harvard before--achieve a lasting, viable means for students to be viewed as partners in the establishment of the College's policies and priorities...