Word: panacea
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Serious Problem. Those words might, with Galbraithian irony, be applied to the author's own belief in wage-price controls as a panacea. Corporate and union power is indeed a serious problem for any government trying to restrain inflation, and there are times when wage-price restraint must be enforced. But Galbraith-style permanent controls tend in the long run to suffocate economic life by distorting market forces, discouraging business investment and initiative, and creating shortages. They also breed worker resentment over lost wage boosts that translates into more social and political unrest than a popularly elected government...
...nostrum for almost every ill: to ease childbirth, as a remedy for cancer, even as a laxative. Spanish colonists liked to rub the waxy, colorless oil on their mustaches. Last week a panel of National Research Council scientists reported that the jojoba bean may also be a panacea for the endangered sperm whale...
Finally, in 1938 the good-government knights, now a small minority, came charging down Coolidge Hill and in a sort of verbal fox-hunting pushed for the acceptance of a plan E form of government, a reformers' panacea that attempts to separate city administration from politics by hiring a city manager to make up the budget and execute city business. By forming the Cambridge Civic Association Brattle Street and Harvard University officials could then back hand-picked candidates in the city's new non-partisan proportional representation election system...
...Ford even refused to acknowledge that the U.S. was in a recession. When he became president, however, he was forced to think about the matter a little more carefully, and he grudgingly came to admit the existence of economic difficulties. President Ford then proposed a tax increase as our panacea, but when that proved unpopular he decided to look for another scheme. Now Mr. Ford has pulled together a new package, in what The New York Times calls "a 179 degree turn in economic policy." Instead of a tax increase, he now suggests a tax rebate of $12.2 billion which...
...Crimson then changes gears rather abruptly and comes up with a solution to the world's problems. Eureka! Socialism, obviously somewhat of a cause celebre on these pages, is a panacea that will save us; all we must do is "change the system," like changing from one brand of gasoline to another. This is a remarkably good example of what The Crimson has told us it abhors only a few paragraphs before--"simplistic--but useful--political analysis...