Word: nomics
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Dates: during 1960-1969
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...sections of the nation. A full-employment economy is a delicate mechanism, the clash of powerful forces, notably labor and management. Both forces will have to accept new atti tudes, new compromises and, above all, new restraint if the U.S. is to achieve price stability while maintaining its eco nomic freedoms...
...have been and still are being built in the wrong places for the wrong reasons. Under the Hill-Burton Act of 1946, any hamlet could raise hospital of matching 20 to funds 30 to get beds ? itself and a too tiny many did. These are not only uneco nomic but bad for medicine, says New Orleans Surgeon Alton Ochsner: no hospital with fewer than 100 beds is medically viable, and he suggests that none should have more than...
...share of our national prosperity. The gap between farm income and income in other parts of our economy-the prosperity gap-must be eliminated." It made fine campaign oratory, but the truth is that the Johnson Administration can do only so much in the face of the harsh eco nomic facts that are making the small, family farmer even more a figure of the American past...
...other forces The Federal Reserve Board may not ease credit to the extent the Administration wishes. The war in Viet Nam seems unlikely to expand again by major pro- portions, but no one can be sure. The international balance of payments remains a constant problem. In the eco-nomic bestiary, Johnson is trying to be owlish rather than bullish or bearish. "There will," he predicts, "be surprises along...
...Instead of going through the often grotesque reach required to find "state action," such as the fact that almost every private business requires a state license, Congress has relied on the Supreme Court's willingness to let it regulate almost everything that it claims has "a substantial eco nomic effect on interstate commerce...