Word: national
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Dates: during 1960-1969
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...depressions that had been predicted, but only by mild recessions that were soon erased by new bursts of prosperity. A stand-down in Viet Nam would help both to cool inflation and to open new opportunities for dealing with some of the social ills that hurt the nation and its economy...
...recently has the Administration begun a study, headed by Presidential Economic Adviser Herbert Stein, of how the transition should be made. No one expects a difficult conversion, partly because the war has driven a relatively small wedge into the economy. The defense budget accounts for only 9% of the nation's output of goods and services, compared with nearly 13% in Korea and 41% in World War II. Direct spending on the war amounts to 3% of the gross national product, and some 1,500,000 people hold war-related jobs...
Debate over Dividend. The size and shape of the "peace dividend"-the resources freed to the nation by an end to the war-remains open to question. It would not be nearly as huge as claimed by those who blame all the nation's ills on Viet Nam. On the over-optimistic premise of a possible ceasefire early this year, Schultze projected a dividend that would grow from $8 billion in 1971 to as much as $40 billion a year in 1974 as the economy continued to expand. During his campaign, President Nixon mentioned a dividend figure...
...money to alleviate urban, racial and poverty problems. The group also recommended cutting the basic corporate income tax back to 38%, down from the "temporary" Korean War rate of 48%. In any case, debate over the peace dividend should lead to a valuable new appraisal of the nation's priorities-and its fresh opportunities...
Bamboo Beginnings. In response to this appetite, a growing number of farmers are flooding their acreage and raising fish instead of conventional crops. Last year the nation's 4,000 catfish farmers sold some 12 million lbs. of their product, and the 1972 harvest is projected at 52 million lbs. by the Interior Department's Bureau of Commercial Fisheries...