Word: moneyed
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Dates: during 1960-1969
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...concentrates on the economy's two main worries: inflation and the possibility of recession. As we followed business news through 1969, it became clear that more and more economists were paying closer attention to the ideas of University of Chicago Professor Milton Friedman, who stresses the importance of money supply as the chief tool in fighting inflation and recession. Hence our year-end review features Dr. Friedman on the cover as it surveys the economy and his theoretical approach...
...passed only five of the 14 required to finance the Government's operations. That means most departments are operating on emergency extensions of last year's level of support, and new programs are stalled. In school aid, for example, districts needed to know last summer what money would be available for this school year; although it is now nearly half over, they still cannot make plans. The financial crisis is not a mere matter of congressional sloth. The complexity of governmental financing is outrunning the ability of Congress to handle it, and the cumbersome procedure of tackling each...
There is a fifty-fifty chance, says Futurist Herman Kahn, director of the Hudson Institute, that working hours will be markedly shorter. Eventually, the American employee will have the option of deciding whether he wants his increased income in money or in greater leisure time. The goal of most Americans will be self-fulfillment rather than self-sacrifice. In everything, the emphasis will be on experimentation. "The idea of redesigning a way of life is going to be the dominant theme of the '70s," says Behaviorist B. F. Skinner. Young people will continue to fear large institutions, he believes...
Business will be operating in a new, probably tougher atmosphere. While profit will still be the prime mover, some of the money once considered the stockholders' will have to be sacrificed to the needs of society and to pollution control. Within business itself, the company that knows best how to use information and the new world of the computer will dominate its field-a truth only beginning to become apparent today. The knowledge industry, in fact, may grow to the point where it is the largest single segment of the economy. A new type of executive-one with great...
...with a check," explained an Arab antique dealer in East Jerusalem. "Tourists are usually in the shop at the time. When Dayan leaves, they are eager to cash the check for me so they can frame it as a memento. So Dayan gets his archaeological pieces, I get my money, and the tourist gets the autographed check." And Dayan's bank account remains unchanged...