Word: marketeers
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Dates: during 1970-1979
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...Public Service Commission. Under his direction, the PSC allowed telephone users to hook up their own equipment to the Bell system and permitted utility companies to set different electric rates depending on the time of day. As Kahn advised his CAB successor, Marvin Cohen: "Understand how a free market works and restrain one's tendency to meddle...
...many Tokyo political analysts and wary businessmen, the Japan Times said: "Teng charmed many people here, but worries persist that China's warmth may not only reduce our foreign policy options, but also trap us in an economic quagmire, rather than grant us the benefits of a combined market of 1 billion Chinese people." Still, that may be the price that Japan will have to pay, as it joins its neighbor in the struggle against hegemony...
...last week, the amount of freight hauled on the Tazara had dropped from an average 1,150 tons daily in 1977 to 700 tons. Just before the railroad opened, 100,000 tons of Zambian copper were awaiting shipment to world market. Last week another 100,000 tons were still waiting, smelted into thick, yard-long ingots and worth $80 million. Perhaps this helps explain why Zambia's President Kenneth Kaunda decided last month to ignore the U.N. boycott and reopen his borders to Rhodesia. The resumption of this transit route should take some strain off the Tazara and allow Zambia...
...result, U.S. farmers are dividing into two distinct classes. Small farmers, who do not have the technical expertise, are rapidly leaving the land. Large farmers, like Benedict, who know how to use credit and the latest in agricultural science, are gaining an ever greater share of the market. They produce most of the food that the U.S. eats and almost all that it sells to the world...
...sell at high Government-supported prices. In 1973-74, Earl Butz tried a new tack: he lobbied through Congress the law under which farmers could no longer unload their crops on the Government, urged them to increase output by planting "fence to fence," and set target prices far below market quotes. He got away with it because rocketing export demand permitted farmers for a year or two to sell everything they could grow at prices that the Government did not have to prop...