Word: longer-term
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Increased Discontent. Some socially beneficial actions have hurt productivity. For example, new federal mine-safety regulations have cut into productivity in mining for the past two or three years. Beyond that, part of the longer-term problem is rooted in social changes. There is an increasing restiveness among young workers, reflected in on-the-job drug use, alcoholism and high absenteeism. A survey of 3,500 young people between 16 and 25 by Social Psychologist Daniel Yankelovich, released last week, concluded that discontent among young workers who do not have college degrees has greatly increased in the past four years...
Doubtless the deep first-quarter downturn in productivity is temporary and will be reversed when employers either lay off more workers or increase production-or both. Yet the longer-term trend is not totally reassuring. In global terms, the U.S.'s long lead in productivity has been narrowed. The country's productivity grew at a healthy annual average of about 3% through most of the postwar period, helped by such developments as the fast spread of computers. But between 1965 and 1970 productivity grew only 2% per year in the U.S. v. 13.2% in Japan, 5.7% in West...
Cheaper by Sea. The longer-term and more important issue is not who gets the taxes but who gets the oil. Because a pipeline from western Canada feeds the U.S. but no pipelines directly serve eastern Canada, it has been cheaper for the East to import oil by sea from Venezuela and the Middle East than overland from the West. But rising import costs are making western oil economical in the East, and by the end of 1975, a pipeline extension will supply the East directly. When it opens up, western leaders would like to continue selling...
...their government has been recognized only by the kingdom of Bhutan and by India. Soon relief supplies from the U.S. and other nations will arrive to begin the task of rebuilding the country and providing for the 10 million Bengali refugees who will be swarming back from West Bengal. Longer-term economic aid for Bangladesh development, however, will have to wait until the government proves its viability. Politically there is trouble ahead, too. Growing radical factions in the youthful Mukti Bahini clearly are not content with the prospect of being ruled by the middle-of-the-roaders of the Awami...
...year at least until 1975. They figure that they are well placed to take more than their current share of the market, which ranges from one-sixth to one-third of all the gasoline, fuel oil, lubricants and aviation fuel sold outside North America. For the longer-term future, Shell's strategy is to seize a bigger proportion of the fastest-growing markets, which are in Japan and Continental Europe. Shell also intends to increase its stake in chemicals, in which it has already become the world's tenth largest producer. By the end of this century, Shell...