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Prices are certain to go even higher. The wholesale index in August soared 3.9%, to a harrowing annual rate of 46.8%. Says Economist Otto Eckstein of Harvard: "If the wholesale index does not do dramatically better by, say November or December, then the outlook is pretty grim." One hopeful sign: after several years of going straight up, prices are dropping on many raw industrial commodities, including cowhide, copper, rubber, wastepaper, cotton, lumber and steel scrap. They are declining largely because of reduced demand...

Author: /time Magazine | Title: INFLATION: Ford's Plan: (Mostly) Modest Proposals | 10/14/1974 | See Source »

...Administration policies, there emerged an overwhelming economic consensus that the battle against roaring inflation will be long and painful, and during its course the nation will suffer a protracted period of stagnant production and rising unemployment that by any name will amount to a recession. Said Democratic Economist Otto Eckstein: "The economy will suffer a recession, which seems to be the price we have to pay to bring the inflation under control...

Author: /time Magazine | Title: INFLATION: Summing Up the Summit | 10/7/1974 | See Source »

...nine months since he left office, former New York Mayor John Lindsay has visited the Caribbean, toured Europe and appeared in an Otto Preminger movie. While traveling, he also found time to bat out the first draft of a novel. The main character is a handsome California Congressman who battles evil politicians and braves a confrontation with militarists. "There's no doubt that it's worth putting more time into the manuscript," says Lindsay's agent, Owen Laster, who is showing the book to New York publishers. Evidently the ex-mayor has a deft touch when...

Author: /time Magazine | Title: People, Sep. 23, 1974 | 9/23/1974 | See Source »

...which each side has filed claims and names. The Russians are calling 104 "kurchatovium" (after their A-bomb pioneer, Igor Kurchatov) and 105 "niels bohrium" (for the famed Danish physicist). Americans have dubbed 104 "rutherfordium" (after the English scientist Ernest Rutherford) and 105 "hahnian" (for German Chemist Otto Hahn, who discovered nuclear fission...

Author: /time Magazine | Title: Science: Elemental Debate | 9/23/1974 | See Source »

Probably the most successful story of the lot is "The Aeroplanes at Brescia," an account of a visit by Franz Kafka, Max Brod, Kafka's posthumous literary agent, and Brod's brother Otto to an air show in Italy. Most of Kafka's work was not published until after he died; he spent a good deal of his life as a lawyer specializing in insurance. Davenport is able to penetrate this shy, reflective character quite sensitively. As Kafka is traveling in a boat to Italy he thinks of Odysseus and then of his more successful relatives...

Author: By Greg Lawless, | Title: Forgetting to Forget | 9/23/1974 | See Source »

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