Word: productive
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Dates: during 1980-1989
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...often that companies cheer the news that a competitor has beaten them to market with a hot new product. But something like that happened last week when the Food and Drug Administration announced that it had approved commercial production of a new vaccine against hepatitis B, a virus that causes an incurable and sometimes fatal liver disease and strikes an estimated 200,000 new victims every year in the U.S. Developed by Merck, the New Jersey-based pharmaceutical giant, in partnership with Chiron, a small (1985 sales: $6 million) biotech firm in Emeryville, Calif., the product is the first genetically...
...decline of the dollar has at least temporarily derailed the mighty export machines of West Germany and Japan. As the relative value of their currencies has risen, their products have become more expensive in the U.S. Partly for that reason, West Germany's gross national product decreased 1% in the first quarter, and Japan's .5%, its first contraction in eleven years...
...TIME's three Boards of Economists (see following story). In its latest economic outlook, the OECD noted that the state's share of the economy in 19 West European countries has begun falling for the first time since World War II. Public outlays accounted for 50.6% of gross domestic product in 1984, vs. 51.1% the year before. Even Scandinavia, where the welfare state achieved its fullest flowering, has caught the spirit. Says Nils Lundgren, chief economist of PK Banken, Sweden's largest bank: "Deregulation, market solutions and free enterprise are the order...
Operation Blast Furnace, however, is the first product of a National Security Decision directive signed April 8 by President Reagan. The directive declared drug traffic into the U.S. to be a national security risk and authorized the use of military force against it. Before then, operations by the armed forces could be authorized only on a case-by-case basis through an emergency decree signed by the Secretary of Defense and the Attorney General...
...term in office after this month's parliamentary elections were all but nil. After the Tokyo economic summit in May, Nakasone appeared to be in deep trouble, having failed to persuade Japan's major trading partners to cool off the country's overheated currency. Worse, Japan's $ gross national product recently declined by .5%, the first such drop in eleven years. His policies of "administrative reform," aimed at curbing exports, cutting government expenditures and opening up Japan's domestic markets to foreign competition, were met with bureaucratic resistance at home. Nakasone also bucked Japanese public opinion by pumping up real...