Word: nomics
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...Delhi. After the death of his father in 1958, Madhvani, an Indian, became the main driving force behind 63 companies worth $56 million in Uganda, Kenya and Tanzania. Credited with building East Africa's first steel mill, the soft-spoken Hindu also served as globetrotting eco-nomic ambassador for the region. "We don't want history to say," he once observed, "that we lagged behind when the need for economic development was so great...
...unsettling. Last week Data Resources Inc., an economic consulting firm headed by Harvard's Otto Eckstein, a former member of the President's Council of Economic Advisers and a member of TIME'S Board of Economists, made some projections for TIME. By analyzing 320 eco nomic equations in a computer, Data Resources projected what the econ omy would have looked like in this year's fourth quarter had there been no strike, and compared these results with what is likely to hap pen if the work stoppage lasts six weeks or twelve weeks. The figures list...
...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...