Word: jobless
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...toughest question in political economics is how much joblessness the U.S. should tolerate as the price of victory over inflation. Few people appreciate how excruciating that choice really is. Federal Reserve Board Governor Andrew Brimmer recently steeled himself to ask a computer what would be required in order to reduce the rate of price increases to 1.5% a year by the end of 1971. The computer coolly answered that output would have to drop 14% and that the jobless rate would go well above 7%-a level of unemployment that the nation has not seen in a decade. Brimmer then...
...rights of defendants, who slow the process with pretrial motions on behalf of their clients. Still, there is no excuse for cases like that of one inmate: charged with murder, he has been in jail for three years-still unconvicted. As for bail, many criminal defendants are either jobless or skirting the edges of poverty. At their income level, $500 bail might just as well...
...problems and the oceanographic vessel Atlantic Twin, which studies pollution in New York harbor. C.U.N.Y. now trains teachers' aides and paraprofessional nurses. It retrains retired cops and firemen to fill critical shortages in nursing, teaches city planning to neighborhood leaders and runs eleven centers for teaching thousands of jobless adults such skills as how to repair air conditioners and mold plastics...
...Full employment" has different meanings, none literal. President Nixon, in his Economic Report last February, defined it as a jobless rate no higher than 3.8%, but one of his economic advisers, Herbert Stein, recently upped the standard to 4%-a criterion most members of TIME's board second...
...help defense companies convert for peacetime battles, or to assist laid-off specialists in transferring their skills to other areas. Washington could indeed do more by awarding to defense firms some major research contracts in urgent civilian areas or by sponsoring retraining and relocation programs for the overskilled jobless; present training programs are directed almost entirely at the hard-core unemployed. Educated manpower is one of the most important resources of an industrial nation, and it should not be wasted...