Word: profitability
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Dates: during 1970-1979
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Both Bergland and the U.S. International Trade Commission urged Carter to reimpose import quotas, but the President refused, arguing reasonably enough that quotas would be too protectionist. Instead, he ordered a 2?-per-lb. subsidy, which was supposed to enable efficient domestic producers to make a profit on their crops. But the nation's 5,000 sugarcane and 15,000 sugar-beet growers found that world prices were continuing to drop so fast that even with the subsidy they were losing money. At the same time, the major sugar-user firms, such as the Coca-Cola Co., General Foods...
allocation of the globe's scarce resources, as well as material incentive for individual hard work and creativity. Instead of a noble "new man," capitalism offers only the "old man," whose self-interest in profit ?even though it may be condemned as greed?will ultimately benefit the commonweal. When assessed this way, it is no surprise that the capitalist reality can be made to sound less appealing than the socialist dream...
...Southern National (assets: $3.5 billion), quit in frustration. His reason: Comptroller of the Currency John G. Heimann, the chief U.S. banking regulator, had just forced C & S to reclassify as questionable an additional $11 million in loans, mostly on real estate. That will convert the skimpy $3.2 million profit that the bank reported for 1977 to a $7.8 million loss...
...freelance journalist, asserted that Allen & Co. was seeking to sell out. Begelman's reinstatement and the condoning of his crimes, charged Truscott, were part of a scheme by Allen & Co. to show that all was well, in order to keep the stock price high and thus make a big profit. Even more serious was the article's suggestion that Charles Allen Jr., 75, the firm's frail founder, had associations with the Mafia...
Tyndall is a firm believer in the work ethic, in competition and in production for profit. In terms of social and economic policy, this philosophy translates itself into social irresponsibility and regulated capitalist industry. Tyndall professes a doctrine of social obligation only for the physically incapacitated. For all other victims of structural unemployment or poverty, Tyndall allows only "the stiff breeze of compulsion to work, and hardship if they...