Word: product
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Dates: during 1960-1969
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...gross national product of about $1.4 trillion (in 1968 dollars), compared with about $943 billion now. The growth rate should be in the range of 4.3% to 4.4% a year, compared with an average 4% for the postwar period...
...candy bars, diet drinks and instant dinners. Even a magnifying glass was little help in explaining those obscure polysyllables: propylene glycol, calcium silicate, butylated hydroxyanisole, sorbitan monostearate, methylparaben. Today, the portmanteau word for such substances is "additives"-which translates into myriad chemicals that have made even bread a laboratory product and the cheese spread to put on it a test-tube concoction...
...food-processing and -packaging industry that involved shipping foodstuffs thousands of miles and storing them for months. That was followed by a growing demand for health-promoting, and especially nonfattening foods. Then came the popularity of prefabricated, quick-service dishes and meals such as TV dinners. In assembling their products, manufacturers and processors have relied in some cases on nature's chemicals; in others, they have synthesized a chemically identical version of a natural product; in yet others, they have turned to new products unknown in nature. As a consequence, Americans are ingesting, willy-nilly, ever greater quantities...
Today the hat-block industry relies on aluminum forms as well. But Harry Glasgall, founder of the Empire Hat Block Corp., which designed and manufactured most of the blocks in the show, confessed that he was "flabbergasted" when he saw what had been done with his product. "Everything I saw there was something I had seen, made or handled myself. It never crossed my mind that they could become art objects." He foresees no run on old hat blocks, however. Empire, in fact, has just burned a couple of thousand for lack of space...
...United States 1867-1960, a decline in the nation's money supply has preceded every recession except one (1869-70) in the last hundred years. After World War I, for example, the Government cut its spending by an amount equal to 16% of the U.S. gross national product. On top of that, the Federal Reserve contracted the money supply by 5.2%. Says Paul McCracken: "The remarkable thing is not that there was a 1921 recession but that our economic system survived under this massive fiscal and monetary whipsaw...