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...report also implicitly admitted that the tight money policy to fight inflation may have helped to slow the boom, but insisted that the fight laid "a firm base" for sound growth. "Some temporary acceleration of growth might have been achieved if expectations of price increases had been allowed to persist and to become fully rooted." But such growth would have been "unsustainable" and would now confront the economy with "the need for far-reaching and painful correction...

Author: /time Magazine | Title: State of Business: Summing Up | 1/27/1961 | See Source »

...Renard pointed out that the strike was costing the capitalist owners of industry a billion francs ($20 million) a day. "Every time you cross off a day on the calendar," he cried, "think, another billion less for them!" Would Renard call off the strike? "A single word!" he shouted. "Persist...

Author: /time Magazine | Title: Belgium: One Man Against Order | 1/20/1961 | See Source »

WASHINGTON, Jan. 17--Secretary of Defense-designate Robert S. McNamara, who sold his Ford stock in a move to allay fears, discovered that fears persist--among the senators who must approve...

Author: NO WRITER ATTRIBUTED | Title: Senate Group Checks McNamara Finances | 1/18/1961 | See Source »

...proclaimed a new course in Algeria: "This course no longer leads to an Algeria governed by Metropolitan France, but to an Algerian Algeria- an Algeria that will have its own government, its institutions, and its laws." If the new Algeria chose to break with France, "we would certainly not persist in remaining by force alongside people who would reject...

Author: /time Magazine | Title: FRANCE: Old Man, New Course | 11/14/1960 | See Source »

...kind exist, Nigeria starts with 532 practicing doctors, 644 lawyers, 60 graduate engineers, accountants and surveyors, and thousands of Nigerian civil servants who have been on the job for years. Many Britons will remain to help, either on permanent salary status or special contracts. Snags are bound to persist; corruption, for example, is widespread and even semirespectable among Nigerians who for years have been accustomed to giving a "dash" (bribe) in exchange for a favor from tribal chiefs or government officials...

Author: /time Magazine | Title: NIGERIA: The Free Giant | 10/10/1960 | See Source »

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