Word: outputted
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Edward Yardeni, a prominent New York City investment economist, thinks there is a 60% to 70% chance that the U.S. is already in a recession. (A rule-of-thumb definition of recession is a decline in national output that lasts at least two consecutive quarters.) Very few of his colleagues agree, but many of them believe that right now output is growing at an annual rate of only 1% or so. The National Association of Purchasing Management is more pessimistic. Enough of its members reported their companies' manufacturing output declining in January to suggest that the economy as a whole...
...signs are contemporary versions of the stained glass upstairs in Annenberg Hall," he says. "We're hoping students will think of [them] as a means of artistic expression, a conduit for creative output...
Considering only one set of figures, the answer would be a resounding no. In 1973 the great postwar boom peaked, and the U.S. economy entered a period of slow growth. From the end of the Civil War through 1973 total national output had grown an average of 3.5% a year, and output per worker rose about 2% annually. Ever since, output growth has averaged 2% a year and productivity increases only 1%. By no coincidence, real (that is, inflation-adjusted) income for the median worker, which had doubled in the early postwar years, has been declining persistently since...
...most ways, Le Marsians are feeling upbeat. The town's population (8,500) has been stable for years. Its economy has largely weathered the farming recessions, thanks mostly to the thriving, family-owned Wells dairy empire, whose output entitles Le Mars to bill itself as the "ice cream capital of the world." Like most Midwestern towns, Le Mars values thrift. Residents still fondly recall that in 1975 Jimmy Carter and his press secretary, Jody Powell, saved six bucks by sharing a room at the Amber Inn. Local Democrats fell for Carter, but there weren't many of them. The place...
Vermeer is more difficult. From the moment it opened two months ago, it was besieged by art lovers--as many as 4,000 a day, lining up to see 21 paintings, two-thirds of the master's surviving output. Because Vermeer's work is so rare, no such gathering of it has been made since his lifetime, or will happen again in ours. But, on Dec. 16, the show had to close. Last week the National Gallery's director, Earl ("Rusty") Powell III, managed to scrape together the necessary $12,000 or so a day from private museum funds...