Word: piel
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...supposed justification for maintaining what Piel termed a "monstrous capacity for destruction which darkened the prospects of the world" merely obscures what is the critical threat to our economic system--the insidious growth of unemployment...
Claiming that the U.S. has a 6-1 edge over the Union in ready nuclear strike power, Piel asserted that only a modest-sized force is necessary to deter an any from striking first. He stated there is not, nor was there ever, any missile or bomber gap; and hinted that only "vested interests" keep giant industries devoted to armaments...
...Piel said that disemployment of workers by technological progress has outstripped the growth of the economy and has made ineffective the classical" techniques for dampening the fluctuations of the business cycle. "Now in 1962, despite a 25 per cent increase in military expenditure, the number of unemployed again exceeds the number unemployed at the last recovery peak...
...United States and the U.S.S.R. terminated the arms race in a draw by adopting a second-strike or purely deterrent nuclear strategy, Piel declared, the result would be clear: "we could offset the reduction in the arms budget by worthwhile and overdue investment in the upgrading of our human and material resources and the enhancement of our domestic existence...
...Piel quoted the recent economics report of the Disarmament Agency as his answer: "the chief obstacles [to disarmament]...would be political resistance rather than deficiencies in our economic knowledge." And he added that "we would have to do so much more disarming than the other side, that ratification by the U.S. Senate would begin to look like a bigger miracle than an agreement at Geneva...