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Boardroom visions of apocalypse seem somewhat exaggerated. The ascendancy of the Socialists is surely no revolution, any more???and probably less?than Reaganism's triumph in the U.S. In many ways, the coming of the new government represents a renewal of some deep-seated French traditions and values. State intervention in economic and social matters, for example, goes as far back as Louis XIV. Even the 35-hour work week coincides with a traditional French preference for leisure over the exclusive pursuit of material wealth. No other nation on earth closes up shop for a month with such flair...

Author: /time Magazine | Title: France's New Look | 6/29/1981 | See Source »

What is said to have changed Koch's politics was stepping into a job that requires him to pay the bills himself. He took over a city that was not unlike his family in the Depression?only in worse shape because it owed more???and so he applied a Depression mentality to it. His basic governing maxim is: "Don't spend what you don't have." It sounds simple enough, but it was too difficult for Koch's predecessors, who spent a billion a year that New York did not have and pushed the city to the brink of bankruptcy...

Author: /time Magazine | Title: A Mayor for All Seasons | 6/15/1981 | See Source »

With a little bit of luck, and much more than a little final testing and adjusting, the Columbia team could attempt a launch as early as March, though a later date is more likely. Full-throated jubilation over Columbia must wait?and perhaps wait some more???yet the sheer presence of the shuttle on the pad at long last charged Kennedy Space Center, and the space community in general, with a mood of revived expectancy and muted exultation. No hats in the air and no drinks all around as in the old days of A-O.K. lift-offs...

Author: /time Magazine | Title: Milk Run To the Heavens | 1/12/1981 | See Source »

...main argument against Steiger is ideological: cutting levies so much for the rich would strike a blow at the whole principle of progressive taxation. The Treasury figures that the Steiger amendment would reduce taxes an average of $14,000 for people with incomes of $200,000 a year or more???and exactly 26¢ for people who earn from $15,000 to $20,000 and rarely get a chance for large capital gains...

Author: /time Magazine | Title: Business: About-Face on Capital Gains | 6/12/1978 | See Source »

...street where Albirtha Young, 29, lives with her welfare-supported family?twelve people in all. "I didn't want to pick cotton all my life," she says, explaining her move to the city's West Side from Mississippi nine years ago. She brought two children North, now has four more???along with two left to her care by an aunt, plus two younger brothers and a sister to tend. The extended family lives in a two-story frame house bracketed by vacant lots, gutted houses and apartment buildings. Albirtha has not held a job since 1968. One reason: her wage...

Author: /time Magazine | Title: The American Underclass | 8/29/1977 | See Source »

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