Word: mill
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...Bakker, a Pentecostal preacher with bases in Charlotte, N.C., and Fort Mill, S.C., appeared on his TV network to explain why he had relinquished the reins of his $129 million-a-year PTL (for Praise the Lord or People That Love) empire. It was not because he had confessed to one afternoon of sin in 1980 with Jessica Hahn, a comely New York secretary who was then 21, he insisted. Instead, flanked by his forgiving wife Tammy Faye, Bakker said he had resigned to stop a "diabolical plot" for a rival evangelist's takeover of his church, which includes...
...preacher has become a powerful czar of Christian entertainment. His enterprises encompass the PTL (for Praise the Lord or People That Love) network, carried by cable TV to 13.5 million homes; a daily television talk show, broadcast on 178 stations; and the 2,300-acre Heritage USA at Fort Mill, S.C., America's splashiest Gospel-theme amusement park, which was visited by more than 6 million people last year. His projects, which also include a lavish hotel and various charities, employ 2,000 people, and had receipts of $129 million last year...
...still an end of innocence, since Vaskevitch was the firm's first investment banker to get caught up in the insider-trading scandals. Moreover, the involvement of so high an executive in the largest U.S. brokerage firm sent new waves of shivers through Wall Street. According to the rumor mill, which is now more preoccupied with subpoenas than proxy statements, as many as 60 Wall Streeters will be accused in connection with the Boesky scandal alone. Rumors about possible charges against the investment firm Drexel Burnham Lambert, which had close ties to Boesky, have become so vexing to the company...
...people being guided by reason and always able to improve things. To put it another way, the unconstrained see human beings as perfectible, the constrained as forever flawed. The constrained vision, as expressed by Adam Smith or Alexander Hamilton, seeks trade-offs; the unconstrained vision, as in John Stuart Mill or Thomas Jefferson, seeks solutions. "The constrained vision is a tragic vision of the human condition," Sowell writes. "The unconstrained vision is a moral vision of human intentions...
Sowell claims to be describing both conflicting visions impartially, to be making no judgment on their comparative merits, but somehow the quasi-liberal unconstrained vision often seems to lead to positions that few liberals would accept as their own. Sowell cites John Stuart Mill's admiration for "the most cultivated intellects" to suggest that the unconstrained are elitist, and hypocrites as well. "It is consistent for the unconstrained vision to promote equalitarian ends by unequalitarian means," he writes, "given the great differences between those whom Mill called 'the wisest and best' and those who have not yet reached that intellectual...