Word: majority
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Dates: during 1970-1979
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...coincidence, Associate Editor B.J. Phillips, who wrote the cover, is a woman. She is also our regular sportswriter and a diehard baseball fan who spent a Southern small-town childhood hoping to make the major leagues. She did enjoy a brief career on the sandlot, but when at 14 she came home bleeding from a spike wound, her mother took a hard stand. Says Phillips: "That's when I became a proper young lady...
...state and local taxes are still in the vicinity of 30% of the gross national product in this country," says Walter Heller, chairman of the Council of Economic Advisers under Presidents Kennedy and Johnson. He adds, "Taxes in most European countries run up to 35% and 45%. The only major country that's below us is Japan." As Heller sees it, the California revolt reflects local circumstances, including California's booming real estate market and Governor Jerry Brown's delay in promoting tax reductions. Recalls Heller: "Several of us economists were invited to Sacramento in the summer...
...students delivered their set pieces for the benefit of their visitor. "I am an eternal lover of peace," proclaimed Victor Álvarez, a fourth-year economics major. "But as a human being I cannot aspire to live in peace while there are people throughout the world who do not have that privilege. Therefore I stand ready to fulfill my moral commitment to extend internationalist aid to any underdeveloped country that may need it and request...
...plunging into debt: installment debt rose a record $4 billion in March, $3.7 billion in April. But consumer-confidence surveys released last week by the Conference Board, a nonprofit business research group in New York City, and the University of Michigan showed a sharp drop in plans for major purchases, mostly because many consumers think they will need every penny to cover basic living costs...
Jimmy Carter has often promised that he would cut down on the Mickey Mouse regulations that inflate production costs, but in the first major test last week, he caved in to the regulators...