Word: nationalizes
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Dates: during 1970-1979
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...with a tax on only "expenditures." The new generation of innovative economists has a bold diversity of ideas-and ideologies. Some of them still applaud Keynes, at least with one hand, but others turn thumbs down. All agree, however, that Government often compounds the economic dilemma and that the nation needs more individual incentives. A sampling...
...value. Dornbusch takes much the same hands-off attitude toward trade: the U.S. should not protect its industries from foreign competition, and, conversely, it should insist that its trading partners reciprocate. In a free global market, Americans would be forced to face up to the fact that either the nation controls its inflation or the dollar will continue its fall...
INADEQUATE INVESTMENT In the 25 years up to 1973, business spending on new plants added about 3% a year to the nation's capital base-plants and machines-but since then the total has risen only some 1.75% a year. Businessmen blame the drop on regulation, profit squeeze, high taxes on capital, and inflation, which saps the confidence that is necessary for investment...
...since Khomeini took power seven months ago had there been such scenes of violent protest in the capital. The repeated clashes throughout the week seemed to be a test of strength over the course of Iran's revolution. In his message to the nation on Jerusalem Day, set aside to demonstrate international Islamic solidarity with the Palestinians, Khomeini gave an ominous warning to his country's leftists. Said he: "I shall give the final word if you continue your devilish scheming." The Fedayan had issued a warning of their own. "Hundreds of us died in our struggle against...
Last September Obasanjo ended the nation's twelve-year-old ban on political activity, and more than 55 parties exploded into noisy life. But only five, among them Shagari's National Party of Nigeria (N.P.N.), could generate a following wide enough to qualify their presidential candidates. The freewheeling and occasionally violent campaign that followed persuaded some Nigerians that the experiment with democracy was premature. Said a professor: "There are two kinds of people here, the pessimist who says civilian rule will fall apart before it begins in October, and the optimist who says that it will fall apart...