Word: limits
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Dates: during 1970-1979
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Like these other writers'. Smithies's descriptions often reflected Saigon's assumptions and interests, and so worked to limit debate in the United States and thus to keep the Saigon government strong. Not all American analysts acknowledged this political effect of their writing, but to many of their critics. It was its most important aspect. For the politics underlying questions of Vietnamese economic development included more even than questions about who shouk, manage development and profit from it. The human, political context AID economists could all but ignore also included the struggle over these questions that was killing people...
Britain's troubles raise the specter of international bankruptcy, a situation in which an uncontrollable run on the pound would force Britain to declare a moratorium on repayment of foreign debts, slap tight controls on wages and prices and limit imports drastically. The result would be a sharp decline in British living standards. While recently presenting a new budget that imposes an additional 25% tax on most luxury items, Chancellor of the Exchequer Denis Healey warned that Britain must not exhaust the patience of foreign lenders. "We would then face the appalling prospect of going down in a matter...
...shielded against import competition always become more strident during times of spreading unemployment. The real surprise is that despite the severity of the global recession, free traders so far have held the dikes successfully against the protectionist tide; nothing resembling the tariff wars of the 1930s has occurred. Import-limiting actions, as distinct from talk, have been few and scattered. For example, Finland now requires importers to post large bonds, and the Japanese have persuaded several trading partners to limit, voluntarily and temporarily, some shipments to Japan...
...conciliating the right a fortnight ago when he apologized to the Senate for any "discourtesy" he may have shown Alabama's Democratic Senator James B. Allen. Last February, while chairing the Senate, Rockefeller had angered conservatives by refusing to recognize Allen during debate of a rule change to limit filibustering (TIME, March 17). In the love fest that followed Rockefeller's apology, conservatives in both parties rose to extol the Vice President for his wisdom and generosity...
...intent of the Budget Act, which actually will not go into full force until 1976, was to make Congress more responsible in money matters. So far, it seems to be working. Though the congressional deficit figures are higher than the $60 billion that President Ford regards as a tolerable limit, they are within the range that most economists think can be handled without touching off a ruinous competition between the Treasury and private corporations for borrowed funds. Despite strong pressures for additional spending on anti-recessionary proposals, the Senate finally accepted the recommendations of its Budget Committee for such programs...