Word: profiteered
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Dates: during 1970-1979
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...particular interest (while regularly working on several AMO committees and on its operating Council) is in a project begun by Communitas College and the Institute for Policy Studies. It is called Community Technology, is an incorporated, non-profit group and is made up of a mathematician and an engineer from the Johns Hopkins Applied Physics Lab, an engineer from the Naval Research Lab, a consulting chemist, an organic farmer, an auto mechanic, a theoretical physicist with a practical turn of mind, a carpenter, two women with lab jobs or training, a woman weaver, a welder (me) and the founder...
Dart's report was much more than a bit of gallows humor. Despite its troubles in land development, Dart Industries is rolling toward a 1973 net profit that is estimated by its chairman to be 14% higher than the record 1972 earnings of $53 million registered on sales of $888 million. Main reason: high earnings in the Tupperware plastic-container division and the chemicals division. In fact, in an era during which "conglomerate" has become a dirty word on Wall Street, Justin Dart has put together one of the few conglomerates that are continuing to post steady growth...
Along the way, the chairman has shown a refreshing tendency to get out of any business that was unsuccessful-or that merely seemed ripe for sale at a profitable price. Dart started out as a drugstore clerk and rose to become general manager of the Walgreen drug chain in nine years; then he moved on through other executive posts in the drug business and wound up as chairman of the Rexall drug chain, which he turned into the foundation of Dart Industries. That did not prevent him from selling off the Rexall stores piecemeal, until today there are only...
Leontief's attitude toward his field, like his input-output model, is free of dogmatic constraints. The Nobel Prize winner has praise for the profit motive in the American economy and the collective controls in the Chinese system...
With this outlook, Leontief is able to see virtues both in capitalist America and socialist China. He considers the profit motive the best driving force of the American economy but admires the "purposefulness of the Chinese people...