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...Benign Neglect. At home, possession of an overvalued dollar encouraged the illusion of American supremacy. But the U.S. paid a high price for that illusion in loss of markets to its overseas competitors, because American goods became artificially expensive in relation to foreign products. The world paid a high price too: the outflow of overvalued dollars to foreign countries helped spread inflation around the globe and robbed world finance of stability...

Author: /time Magazine | Title: The Economy: The Quiet Triumph of Devaluation | 12/27/1971 | See Source »

Less than a year ago, U.S. international financial policy was ruled by the idea of "benign neglect": the complacent conviction that Americans could continue pouring out their overvalued dollars, buying as many foreign goods and factories as they chose and spending on military ventures as lavishly as they pleased. The rest of the world, so the theory went, had to absorb all the dollars because the dollar was as good as gold. It had an "immutable" value in terms of gold, and the U.S. was pledged to sell American gold-at the rate of $35 an ounce-in exchange...

Author: /time Magazine | Title: The Economy: The Quiet Triumph of Devaluation | 12/27/1971 | See Source »

...Jensen argued that compensatory education had failed to remove the "achievement gap" because I.Q. is predominantly inherited. Such views taken out of context hardly seem worth criticizing, but when placed within the framework of today's politically reactionary climate, they become ideological justifications for such policies as the "benign neglect" advocated by Daniel Moynihan...

Author: By Tom Crane, | Title: Herrnstein Once Again | 12/15/1971 | See Source »

Feel Like Going Home is suffused with a sad nostalgia which occasionally turns into bitterness. Understandably, Guralnick deplores the neglect suffered by many artists; he is dismayed, too, by the tendency of the American public to devour its most gifted children. In any case, things will never be the same. Whether Chess Records is dead--or indeed, whether the blues are dead--can be debated; but unquestionably, an era has ended...

Author: By Charlie Allen, | Title: True Blues | 12/6/1971 | See Source »

...Pill and other birth control devices are available everywhere, but women still get pregnant without wanting to: too many people neglect precautions at precisely the wrong time or use them improperly. Therefore scientists continue to search for an effective next-day antidote to tonight's mistake. An experiment announced last week in the Journal of the American Medical Association gives strong evidence that such a pill is not only feasible, but that a woman can have up to 72 hours after intercourse to correct matters...

Author: /time Magazine | Title: Medicine: The Morning-After Pill | 11/8/1971 | See Source »

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