Word: power
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Dates: during 1960-1969
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...troubles that dwarf any he encountered in Nashville. The university faces the possibility of more disruptions by radical students this fall. Its newly established student-faculty governing committee, set up to make the university administration more democratic, is still untested. Several of the professional schools have encroached upon the power of the presidency, and the university expects a crushing $11 million budget deficit next year...
...consumer is paying a record $1.33 a Ib. for round steak and 48? a lb. for tomatoes. Admittedly, he is more able than before to foot the bill. After declining for some time, the average U.S. worker's real purchasing power has begun to climb because most wage increases are now exceeding rises in the cost of living. Personal income, as reported by the Commerce Department last week, has risen by 9% this year over the first half of last year...
...both 1966 and 1969, the Federal Reserve Board tried to control the expansion of credit by restricting the money supply. But in 1966, the board moved clumsily, swerving at midyear from monetary expansion at a 6% yearly rate to contraction at a 2% rate. Credit evaporated, investor buying power disappeared, and stocks collapsed. This year the money supply has expanded at a modest annual rate of about 21% - just enough, FRB Chairman William McChesney Martin hopes, to accomplish "disinflation without deflation." There is no sign that the FRB will soon make money any easier...
This explosive growth and new power, however, have brought Japan's economy to a difficult stage of decision. As TIME'S Tokyo Bureau Chief Ed Reingold reports, more and more Japanese leaders realize that their economy has to make the jarring transition from super-precocious adolescence to maturity. At home, Japanese consumers complain that they have been left behind in the scramble for export markets, and they are clamoring for more of the rewards of industrial expansion. Abroad, many of Japan's best trading partners are becoming increasingly impatient with the way that its businessmen flood...
After eight years and three elections, White has established his own political system. He has a vast network of friendly power brokers, governmental aides, trend watchers, reporters, poll takers and precinct vigilantes. This book is almost overwhelmed by his efforts to preserve-and not to offend-this intricate organization. Nelson Rockefeller is elevated to near sainthood before he is politically buried. Even Lyndon Johnson, sulking back on the ranch-the man who White points out was most responsible for Viet Nam, fragmented his party, nearly destroyed the nation's trust in its government-gets his requiem. "Few men have...