Word: progressives
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Dates: during 1950-1959
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...16th-century dictum that knowledge is power has come fully and prophetically true. Advances in abstract scientific theory can promise or threaten next year's breakthroughs in the technology of national power. And on the sidelines of the science-technology race, the backward nations, eager for progress and wary of winding up in the loser's camp, watch intently to see how Russia fares in competition with the West...
This morning Dean Lippincott called an emergency meeting to consider the case, but as this edition went to press the meeting was still in progress...
Hopes that medical progress may prolong human life far beyond the 100-year mark are unrealistic. So said New York University's Dr. Morris Rockstein before the Gerontological Society in Cleveland last week. Despite advances already made, a person of 65 now has only a slightly greater life expectancy than one of the same age had in the past. Also, the fact that few people live much beyond the 100 mark indicates that this is "close to the potential maximum for the majority of human beings...
With a sigh of relief, the U.S. aircraft industry learned last week that the Defense Department would pay its bills after all. To 28 major airframe and missile contractors, Defense Secretary Neil H. McElroy sent a telegram rescinding the harsh 25% reduction in progress payment on contracts that recently threw manufacturers into a tail spin (TIME, Oct. 28). In its place, the Defense Department announced a new, less rigid series of payment "targets," under which the planemakers would get at least 80%, and possibly 90%, of their costs for work in progress...
While the new funds will not solve all the industry's problems, they will ease much of the strain. Originally, planemakers estimated that they might be forced to borrow between $1.5 billion and $2 billion to keep going without full progress payments on contracts. Fortnight ago, after a calmer calculation, the spread was down to $800 million. Now with an additional $300 million available, the gap is only $500 million all told. Of this amount, the industry will probably have to borrow $300 million, while the Air Force hopes to find enough loose change in its various financial pigeonholes...