Word: nationalizes
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Dates: during 1970-1979
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...screen, but those built around theatrical gimmicks invariably drop dead. Same Time, Next Year, like last year's Equus, never stood a chance as a movie: it is a one-joke, one-set, two-character sitcom that should be allowed to retire in peace to the nation's dinner theaters...
Industry usually passes these expenses on to consumers. Administration economists estimate that regulations-good and bad, necessary and unnecessary -have added at least three-quarters of a point to the nation's current 10% annual inflation rate. Carolyn Shaw Bell, economics professor at Wellesley College, suggests some of the many reasons...
...spent on devices to clean the air and protect workers rather than on modern machinery that will produce goods more cheaply and efficiently. While that may appear to be an acceptable tradeoff, it leads to fewer jobs for the unemployed and fewer technical discoveries that will benefit the nation. Yale Economist Paul MacAvoy estimates that the shift of investment from productive projects to programs mandated by regulation has cut the growth of the U.S. gross national product by one-quarter to one-half of a point every year since the early 1970s...
Since the 1960s, the average annual increase in the nation's productivity has fallen from 3% to about 1%, and the blame lies partly with excessive regulation. In a landmark study, Economist Edward Denison of the liberal-oriented Brookings Institution calculated that environmental, health and safety regulations cut 1.4 points per year from U.S. productivity growth between 1967 and 1975. "There can be no doubt," says a study by the President's Council on Wage and Price Stability, "that much of the productivity collapse in mining and in utilities can be attributed to social legislation that protects...
...return to the pre-Nader days of unsafe cars. If there were no mandatory standards set by Government, companies willing to spend hard cash on antipollution and safety gear would lose orders to competitors that refused to make those social investments; the callous companies would have lower costs. The nation desperately needs to find a sensible midpoint between too much regulation and too little...