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...detailed plan for a new system. Its main feature: currency changes would be keyed to shifts in the size of the monetary reserves that each nation accumulates in its dealings with the rest of the world. Countries that either persistently lose reserves through excessive spending, like the U.S., or pile up reserves through excessive trade surpluses, like Japan, would be obliged by international agreement to bring their accounts closer to balance. Nations could change their trade practices or could make small devaluations or revaluations as a more or less routine procedure. Shultz also contemplates a lesser role in global finance...

Author: /time Magazine | Title: MONEY: The Winners and Losers from Devaluation | 2/26/1973 | See Source »

Shirley Chisholm underscored the delicacy of that difficult task. "Some people wrongly see the Caucus participants as being 'antimale, anti-children and anti-family,' " she cautioned. "Very frankly, there have been some excesses in movement thinking. Children are more than a pile of dirt and diapers; families have provided love. This Caucus should not be the cutting edge of the women's movement, but the big umbrella over...

Author: /time Magazine | Title: WOMEN: Trouble for ERA | 2/19/1973 | See Source »

Among the 50,000 black strikers, the majority of them Zulu tribesmen, were 16,000 Durban municipal employees; their walkout caused litter to pile up in the streets and forced white housewives to perform the unaccustomed task of carting away their own garbage. At nearby Hammarsdale, where 7,00 blacks left their jobs, a crowd of 200 was dispersed by police with tear gas after the demonstrators had brandished clubs and chanted "Usutu!", a traditional Zulu...

Author: /time Magazine | Title: SOUTH AFRICA: Usufu! | 2/19/1973 | See Source »

...thieves, drug smugglers and illegal aliens. She has mastered the use of the .38-cal. revolver she carries, as well as such mysterious port argot as: "There's a camel loose in the channel; get a sea gull to pick it up." Translation: "A wharf pile is afloat; get a refuse boat to pick...

Author: /time Magazine | Title: The Sexes: Male and Female | 2/19/1973 | See Source »

Greek folklore has it that when God made the earth, he picked out all the stones from the soil, threw them in a pile and called it Greece. For centuries this poverty-plagued country has been the poor stepchild of one foreign power after another, rarely able to pay its bills or manage its economic destiny without the aid of wealthier neighbors. All that is changing now, as the progeny of Herodotus and Homer ride high on one of Europe's least expected booms. Per capita income has climbed to $ 1,200 a year, spurred by an economic growth...

Author: /time Magazine | Title: GREECE: An Unlikely Boom | 2/19/1973 | See Source »

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