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...makes its emergency loans conditional on the receiving nations' adopting a policy of "austerity." The assumption behind this philosophy is simple: Third World governments have lived beyond their means. Their governments are spending resources which the nations do not possess--handing out pieces of a pie which do not exist. The only answer, the IMF believes, is to cut the government budget, raise taxes, and devalue the currency...

Author: By Francis H. Strauss iii, | Title: The Neighborhood Bank | 5/19/1980 | See Source »

...believe that G. Gordon Liddy [April 21], despite his idiosyncrasies, should be honored and admired for his seriousness of purpose, iron discipline and especially his unfaltering loyalty to both the U.S. and the President. Few people today possess such qualities in our Government...

Author: /time Magazine | Title: Letters, May 19, 1980 | 5/19/1980 | See Source »

...faces in the crowd appear distinctly conspiratorial; the girl has been debased into a symbol, and is happily oblivious to what that symbol embodies or supports; and even inanimate objects and trivial details--the sheen of the car and the incomplete lettering of a storefront in the background--possess an enlarged, fictive meaning, a circuit of tension and a certain chill suggestive of all that is sinister, ridiculous and mesmerizing about displays of institutionalized eroticism...

Author: By Larry Shapiro, | Title: Refinements of Reality | 5/12/1980 | See Source »

Usually less than half of the concentrators write honors theses. Perhaps part of the reason is that Faculty members in the department actively discourage students from writing theses unless they are extremely enthusiastic and possess cogent proposals for their very specific topic. Goldfarb explains that Faculty members expect Philosophy theses to be especially probing--like the concentration itself...

Author: By Siddhartha Mazumdar, | Title: A Major by Any Other Name | 4/24/1980 | See Source »

...message is Bryan Trottier, center for the New York Islanders. His two front teeth were extracted in maturity by a hockey stick. Trottier is to appear in the final frames surrounded by jubilant teammates all of whom are extras, bit players in this mini-form who possess an almost subliminal celebrity. "I been living in sports equipment all week," notes one. Later, after jumping into a shower to simulate perspiration, he complains that "on the Coke job, they gave us little spray things-very first-class...

Author: /time Magazine | Title: Books: Words from a Sponsor | 4/21/1980 | See Source »

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