Word: levelism
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Dates: during 1960-1969
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...matted underbrush must be cleared and coconut palms planted to replace trees seared by atomic blasts. Two islets where tests were conducted have been blown off the map. Bikinians may have to forgo eating land crabs and pounded arrowroot, two delicacies that retain dangerous radioactive isotopes. But the overall level of radiation is now no higher than that of the city of Denver, and the Bikini lagoon teems with edible fish. It was the lagoon that they missed most during exile at Kili, where thundering waves often made fishing impossible...
...reduction dropped the economy's key interest rate below the crisis level, highest since 1929, to which the Reserve Board pushed it last April in its effort to fight inflation and steady the international standing of the dollar. The new rate applied initially only to the Minneapolis Reserve Bank, which requested the cut in the amount it charges member commercial banks for borrowed funds. Normally, the other eleven district Reserve Banks soon fall into line with such shifts, but this time there were signs of dissent and delay. The key New York Federal Reserve Bank, which frequently takes...
French workers, besides splurging on vacations at a rate unprecedented in a holiday-happy country, spent enough of their higher wages to lift July retail sales 10% above the 1967 level. Strike-depleted inventories have shrunk so low that many industries expect a manufacturing boom in the fall. Says Finance Minister François-Xavier Ortoli: "The outlook is better than we could have ex pected. The economy is righting itself...
Though sisal-producing countries have managed to keep total output fairly constant in recent years, about 660,000 tons annually, they have had to slash their prices to maintain their markets. From $700 a ton in the early 1950s, sisal has sunk to its present $168 level, which makes it hardly worth harvesting at all. And there is no hope of reversing the trend. The time-honored tactic of withholding the product from the market to drive up its price would only backfire, sending an even larger share of potential sales to synthetic fibers...
World prices of sisal are expected to continue their decline and possibly level off by 1970 at about $150 a ton. Meanwhile, Tanzania hopes to develop new uses for its threatened crop. To that end, a consortium of Canadian and European banks has invested some $28 million in a mill to turn sisal into paper pulp. In neighboring Kenya, the world's fourth largest sisal producer, experiments aimed at producing fodder and fertilizer from sisal fibers are under way. Other leading sisal producers, including Brazil and Haiti, have agreed to pool their resources to promote their produce against...