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...Arbiter. The more economists ponder whether these and other signs add up to a recession, the more they realize, as chief Presidential Economic Adviser Paul McCracken puts it, "The word itself is not an unambiguously precise term." There is really only one reliable definition: if experts of the National Bureau of Economic Research decide to call a business decline a recession, so shall it be known. But the NBER only identifies recessions long after they have begun, and by a complex process that yields no hard and fast criteria. The behavior of gross national product, industrial production, employment, personal income...

Author: /time Magazine | Title: Business: A Borderline Case of Recession? | 3/9/1970 | See Source »

...five months of testimony and argument had barely come to an end, with the jury dispatched to ponder its verdict, when Judge Hoffman began handing out contempt-of-court sentences that ranged from two months and 18 days for Lee Weiner to 29 months and 16 days for David Dellinger. With characteristic, outrageous hyperbole, Dellinger protested: the System "wants us to be like good Jews and just go quietly to the gas chambers." At that point, his daughter Natasha, who had been with her sister Michelle at the trial, clapped her hands twice, and a kicking, punching melee ensued between...

Author: /time Magazine | Title: Nation: Verdict on the Chicago Seven: From Court to Country | 3/2/1970 | See Source »

...made before the demonstration) to protect his embassy-"a defenseless hostage"-from "an act of wanton vandalism." Foreign Secretary Carlos Romulo, who senses the mood of his country and is less friendly to the U.S. than in former times, apologized for the attack but testily suggested that the embassy "ponder such legitimate grievances" as the Plaza Miranda demonstrators voiced. Presumably he was alluding to often repeated charges that U.S. firms plunder Philippine mineral resources and that U.S. servicemen accused of local crimes are sometimes shipped home before they can stand trial. Nonetheless, when another band of protesters formed a picket...

Author: /time Magazine | Title: Philippines: Testy Words in Manila | 3/2/1970 | See Source »

AFTER five months of insult to the judicial process, the trial of the Chicago Seven ended. A glassy-eyed jury of ten women and two men retired to ponder whether the defendants were guilty of "conspiracy to incite" the riots that bloodied Chicago streets during the 1968 Democratic Convention. Appeals may go on for years. However, the grotesque trial went far beyond the question of whether seven assorted radicals actually started the melees. The real issue was the integrity of U.S. law in times of traumatic dissent. The defendants' outrageous antics in court obscured that issue...

Author: /time Magazine | Title: The Law: The Chicago Trial: A Loss for All | 2/23/1970 | See Source »

Pirandello used to ponder the curious fate of the great playwright who, being mortal, changed and died, but whose characters were immutable and immortal. Witnessing great drama means spending an evening with these immortals. The Three Sisters, Olga, Masha, and Irina, who yearn in vain to go to Moscow, have a place in the minds and hearts of people who have never even seen the Chekhov play...

Author: /time Magazine | Title: Theater: Poet of Bruised Hearts | 2/23/1970 | See Source »

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