Word: product
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Dates: during 1960-1969
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...Edgar S. Chandler, executive director of the Church Federation of Greater Chicago, argues that this kind of convergence is the product of a vast social change that has made old categories of thinking about church and state irrelevant. "With the development of education for all, of social services for people in need, it becomes increasingly impossible to maintain a real wall of separation," he says. "It is much more fruitful to show how the church can reach .further to fulfill its mission of serving people. You don't change the doctrine of separation, but you consider...
These facts emerged last week when an embarrassed U.S. Government admitted that its statistics have understated the size and strength of the economy by billions of dollars. In the first major revision in seven years, the Government restored those billions to the gross national product, that vital measure of all the goods and services produced in the nation. The economy has actually been expanding at an annual rate of 4.3% since 1960, said the Commerce Department, and not at the 4.1% rate that has been accepted up to now. Result: the gross national product reached $628.7 billion last year...
...changing economy, five years is just too long for exact tracking. Important in the current revision are better statistics supplied by the new input-output study of what various industries sell to each other (TIME, Nov. 20) and fresh concepts of what should be included in the gross national product. The $1.2 billion a year paid in real estate commissions, for example, was reclassified from a current expense to a capital outlay, thus increasing G.N.P. by that amount...
...gross national product got its embarrassing face lift, another vital measure of the U.S. economy−the balance of payments−also put forward its best face in many months. In its transactions with the rest of the world, announced Treasury Secretary Henry H. Fowler, the U.S. in 1965's second quarter took in $132 million more than it sent abroad, the first quarterly surplus in nearly eight years...
...Vitamin (1964 sales: $21 million) may seem high, but Charlie Revson considers the price cheap enough in an age obsessed by health and about to be presented with medicare. In the trade, there is already speculation about whether he plans to rewrite U.S. Vitamin's product list (Arlidin, Methischol, Aquasol) to bring it more in line with Revlon's−which bears such names as Million-Dollar Red, Fabulash and Pussy Cat Pink...