Word: partings
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Dates: during 1970-1979
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...religious minorities live, the seven-month-old government of Ayatullah Ruhollah Khomeini is moving desperately to keep its grip over the chaotic country. One measure of its new-found realism was the disclosure last week that Tehran is negotiating with the U.S. for the delivery of at least part of the $5 billion in American arms and equipment that the Shah had ordered. Iran is still anxious to sell back to the U.S. the 78 advanced F-14 fighters that the Shah bought in the mid-1970s, but it is now in need of spare parts for its American equipment...
...cancellation. Now it is more difficult than ever to see the outline of a possible settlement. Algeria has little to lose by continuing to support the Polisario so long as its own troops are not involved and Libya continues to provide much of the rebels' financing. For its part, Morocco is clearly not willing to give up any of its annexed real estate peaceably. Besides his own irredentist impulse, Hassan also has to reckon with the nationalistic fervor of his subjects-which the King originally whipped up in 1975 with his dramatic "Green March," in which 350,000 Moroccans...
Collecting great art has always been a rich man's hobby, the province of the Medicis, the Morgans and the Mellons. For others, the only time the price is right, or at least affordable, is that fleeting moment between discovery and celebrity. The early part of the century, when a now famous Picasso etching could be had for $20, was one such time. The late '50s, when a Rauschenberg painting cost less than $1,000, was another. For photography that golden moment was, almost literally, just yesterday...
...Though part of the rise in European pay (and prices) when expressed in dollars reflects the slump in the value of the greenback, this does not explain all the difference. In real terms, incomes have simply risen much faster in Europe than in America. According to the Paris-based Organization for Economic Cooperation and Development (O.E.C.D.), between 1972 and 1977 the annual increase in the average hourly wage in the U.S. was less than 1% above the inflation rate. But in Europe, wages have stayed ahead of prices by much greater margins: more than 5% in France, Belgium, Norway...
...Part of Europeans' gains have been wiped out by their higher taxes; a typical Belgian family earning $56,000 will keep no more than $32,000. But though their taxes are generally lower, Americans must shell out more of their incomes for medical and educational expenses, both of which are largely free in Europe. The net result is that many Europeans end up with somewhat fatter disposable incomes than Americans but they also face generally much higher prices. So how do they do it? How do they afford the rows of doubled-parked Mercedes and BMWs and the expensive...