Word: profits
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Dates: during 1960-1969
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...crucial questions today, says Friendly, are "What is enough profit?" and, conversely, "What is enough public service?" He confesses that he does not know the answers, although there is plenty of evidence that profits are winning, soiled hands down. The three networks alone devote 17% of air time to commercials and that, says Friendly, "is one reason why Americans know more about detergents and bleaches than they do about Viet Nam or Watts...
...Pope coupled his demands for international economic planning with a surprisingly sharp attack on the "woeful system" of unfettered capitalism. "It is unfortunate that a system has been constructed which considers profit as the key motive for economic progress, competition as the supreme law of economics, and private ownership of the means of production as an absolute right that has no limits and carries no corresponding social obligation." By contrast, there was little said about the dangers and evils of socialism or Communism, except for a mild warning that Christians should be wary of systems that are "based upon...
...enterprise has developed into a creative, socially conscious component of the industrial West. The encyclical took insufficient account of other reali ties-that poverty and hunger have most successfully been attacked where private enterprise has been encouraged, and that even in sectors of the Commu nist world, the despised profit motive is now tacitly accepted as a necessary stimulus to productivity...
...Profit Squeeze. McDonnell is an unmistakable phenomenon in a fast-changing industry that is suffering a good deal of anxiety about its future. The U.S. guns-and-butter economy lifted aerospace sales by 15% last year to a record $23.8 billion. But Viet Nam-caused labor shortages and material bottlenecks boosted costs enough to squeeze profit margins down to 3% of sales compared with 5.6% for all U.S. manufacturers...
...that Mr. Mac should go all out to buy Douglas when he got a chance. He made a first overture in 1963 after picking up an estimated 200,000 shares of the California company's stock. Douglas rejected his advances, and McDonnell later sold his holdings at a handsome profit...