Word: product
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Dates: during 1960-1969
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Grande to Cape Horn in one barriers-down trading area. The new market's population (243 million) would be greater than that of either the U.S. or the European Common Market, and its gross national product would be an impressive $75 billion...
Only last month a California court tried to answer such questions in the nation's first A.I.D. criminal case. At issue was the fate of Christopher Sorensen, 6, a product of artificial insemination to which his mother's sterile husband, Steelworker Folmer J. Sorensen, had agreed. After a 1964 divorce, the boy lived with his mother, who bitterly refused any financial aid from Sorensen. When Mrs. Sorensen became ill and applied for welfare funds last year...
Snickering Critics. No one gets more satisfaction from the new products than Ampex President William E. Roberts, 52. Once the No. 2 man at Bell & Howell, Roberts joined Ampex in 1961 after the loosely managed company had tumbled deep into the red. Many of Roberts' remedies were routine: he centralized administrative control, for example, and lopped off unprofitable product lines. Yet, despite Ampex' shortage of cash, Roberts also ordered a lavish step-up in research and development spending. R. & D. engineers and scientists were set to work on so many new projects that snickering critics took to calling...
...political-philosophical conclusion: there should be no income redistribution, which would make someone else better off by making another worse off. The "natural" income distribution is willed by the market. The ideal market gives the man with $2000 and the man with $200,000 their best and most efficient product mix. This is the optimal welfare situation...
...create wants, but since such firms depart from the competitive model, this does not necessarily bring into question the analyses of the model itself. But what about competitive firms using advertising to create wants? This is discussed in the readings solely in terms of permitting monopolistic price rises through product differentiation. We suggest that such advertising is also one of many examples of attempts to accentuate inequality of decision-making ability between consumer and producer which allows an artificially inflated demand. Likewise, the social pressures of "keeping up with the Joneses" are ignored in the postulate that one consumer...