Word: marketeers
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Dates: during 1970-1979
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...reason for all these cries of alarm is Proposition 13, a measure that would limit California property taxes to 1% of the market value of all real estate, about one-third of current average rates. If approved by the voters on June 6-a strong possibility-the proposition would cost California officialdom about $7 billion in annual tax revenues at the present level. It would also make it harder to raise other revenues because it would require a two-thirds vote of both houses of the legislature to impose new taxes...
There is no universal model of socialism, just as there is none of free-market capitalism. As Rome
...world's sovereign states, controlling 39% of its territory and 42% of its population. Such numbers alone can be misleading, for societies calling themselves socialist include Western-style democracies and repressive Communist dictatorships, constitutional republics and hereditary monarchies. Socialism is a flag of convenience that accommodates technocrats and market-minded economists, that allows fascist-type dictators or small-time Bonapartes to perpetuate themselves in power. It is politically chic to use the socialist label. Observes French Political Philosopher Raymond Aron: "In most countries, socialism carries the connotation that whatever is good is socialist, whatever is bad originates in capitalism." Adds...
...hikes are merely artfully concealed by an economy in which wages, prices and even the kinds of goods available are set by the state. For instance, the "official" cost of an item can remain stable for years, but the product may be available only on the black (or gray) market and at a substantial premium...
...flexibility. Factory managers, while gearing output to the central plan, can innovate to improve their product and enhance its consumer appeal. They are even allowed, within discreet limits, to compete with one another on price and delivery dates. As an incentive for managers and employees to design, manufacture and market high-quality goods, the party's economic planners often use an old capitalistic ploy: material rewards in the form of bonuses and wage hikes...