Word: productive
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Dates: during 1960-1969
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...with exports. Even if it imports nothing this year, it will still owe international creditors $800 million. New foreign capital dwindled from $266 million in 1961 to $62 million last year, frightened off by expropriations, political strife, and a restrictive remittance-of-profits bill. Brazil's gross national product, which averaged 7% growth a year for five years, slowed to an estimated 3.5% in 1962, which means barely keeping ahead of Brazil's 3.1% growth of population...
...approve of pickpockets, especially those who pick our own," said the Journal, but "the result represents a consummation devoutly to be wished by influential thinkers of the day." Since Royster's $100 was transferred from one party to another, the editorial reasoned, both the gross national product and the national income showed gains, and such "redistribution of income" is "the whole object of current economic policy." It also helps, added the editorial, if money "can be transferred from corporations and rich folk, who might have a proclivity toward savings, to the hands of those who will inject it more...
...Congress" for bringing on the 1958 recession by deciding "to keep the debt limit unrealistically low, to cut back and stretch out budget expenditures, to tighten monetary policy, and reject all efforts at tax reduction." The results: unemployment went from 4% to 6%, the growth rate of gross national product slipped from 4% a year to 3%, and business spending on new plants and equipment fell in 1962 to a lower level than...
...Government economist: "The results of this survey should send the pessimists running for cover." On the other hand, no one thought that the new figures were good enough to spell a real economic upsurge, and that view was supported by the Federal Reserve Board's report that industrial production remained unchanged in February. Capital spending still amounts to only 6.8% of this year's projected $578 billion gross national product v. 1957's 8.3%. To bring on boom times, economists agree, capital spending should rise 13% to 15% over last year...
...bond issue-information Wall Street speculators would love to have. And to foil counterfeiters, it uses special paper embedded with colored disks, mixes its own inks, and even makes its own special presses. Every item is counted and recorded 33 times from raw paper to finished product, and rejects are cremated in blazing furnaces...