Word: oneness
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Dates: during 1960-1969
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Shultz's conviction that imposed agreements are often fragile and brittle closely parallels President Nixon's thinking. The Labor Secretary has a talent for translating the President's theory into policy, and that has made him one of the most powerful men in Washington. As TIME Washington Correspondent Marvin Zim reports: "If politicians gave a rookie-of-the-year award, the prize for 1969 would go to Shultz. After coming to Washington without any political experience, he has clearly become a top Cabinet officer, an adviser whose counsel is sought and whose judgment bears extra distinction simply...
...program by eliminating only the camps that had a poor record of placing graduates in jobs. In addition, he effectively broke a five-month impasse within the Administration over whether or not welfare payments should be extended to the working poor, a proposal that Arthur Burns, for one, argued would be too costly and would induce many people to stop working and go on welfare. Shultz suggested a middle course of providing "work incentives" that would enable families to keep a major part of their wages without losing their rights to welfare funds. To protests that it would cost...
...growth has created an unusual demand for young executives, and Clark has developed an equally unusual method of training them. Every year Amexco assigns six or seven new graduate-school alumni to be management consultants within Amexco. Each one studies a particular new business opportunity or competitive threat and develops a program to deal with it. By the time they are through, says Clark, "they know the company inside out," and are usually enthused about it and ready for major operating responsibility. Meanwhile they save American Express a consultant...
...statistics are weighted according to the economists' own idea of their importance, and the result is intended to serve as a picture of the real world. The models vary, but they usually contain data about prices, wages, spending, savings, interest rates-and how a change in one will theoretically affect the others. Like the design for a new airplane, the model can be "tested" in a computer without the risk of painful mistakes. Even if the results are not wholly accurate, the discipline of building a model enhances understanding of economic problems. Modelmaking is an important part of France...
France's Perrier company has built an empire on water. Besides selling half of the roughly 2.5 billion bottles of mineral water that Frenchmen drink every year, it has the national franchise for Pepsi-Cola and is one of the largest makers of chocolate and other candy in France. Annual sales are $204 million. But when Perrier tried to expand its gastronomic conglomerate by growing big in the dairy industry, the ensuing spectacle resembled the script for a French farce...