Word: marketing
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Dates: during 1960-1969
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Although France adopted the value-added tax in 1954, the U.S. grew seriously concerned only after the entire Common Market decided to copy it. When Germany made the switch to VAT last year, one immediate effect was a 2% drop in the export price of steel, machinery and other goods. The Netherlands introduced VAT Jan. 1 with similar results. Denmark and Sweden have joined the rush; Norway, Belgium and Italy will do so next Jan. 1, and Britain is considering...
...following that has since been won by Wall Street's chart-oriented technicians. Practically every house and mutual fund has one or more chartists in its research department, and thou sands of individual subscribers pay any where from $150 to $500 a year for the scores of weekly market advisories that they prepare. "Today," says Ward, "everybody listens...
...more important, technicians argue, the charts reflect what the mar ket knows (or thinks it knows) about a company. One reason the chartists can be right: corporate insiders learn in ad vance about their company's earnings or new products and sometimes trade on that information in the market be fore the news gets around...
...charts first appeared more than 80 years ago, when investors found that they could often trace - and turn a profit from - the operations of stock-market manipulators by keeping running graphs on the price and volume of trad ing in individual stocks. Today's chart ists have created considerable bafflegab, but they have also devised some simple patterns by which to follow the swings of the smart money (see chart) and watch for new patterns. Among the com mon signs of change...
...other extreme stands Norman Mailer, accounting for the pain and exertion that accompanied the writing and publishing of The Deer Park. His piece is another of those arresting homemade commercials for N.M., now no longer a product in search of market but a literary institution of proven value. Mailer attacks his subject with the energy of pent-up resentment and a confidence in the infallibility of his instincts...