Word: quota
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Besides calling for the 10 percent quota, BAM's demands include the immediate granting of tenure to all presently hired Black faculty and the appointment of Black as chairmen of 30 percent of the academic departments...
...persuades foreign countries to accept import limits on textiles, machine tools, sugar, meat and carbon steel, among other items. As pressure for more trade legislation builds this year in Congress, a growing number of economists and legislators have concluded that there must be a better way to run a quota system...
...idea that shows particular promise is the concept of auctioned quotas. Rather than just giving away the import allowances, proponents ask, why not sell off the quotas to the highest bidders? Under the current system the U.S. leaves it to foreign governments to decide how quotas should be apportioned among their companies, which pay no money for the exporting privileges. But under an auction plan, the U.S.-based companies that import the products would bid directly to the Federal Government for a share of the quota, bringing a whole new source of income to the U.S. Treasury...
...Government could use the proceeds to put a noticeable dent in the federal budget. Quota auctions might bring in revenues as high as $7 billion a year, according to C. Fred Bergsten, director of the Institute for International Economics, a Washington research organization. Some of the money could be used to help modernize the beleaguered U.S. industries that the quotas were designed to protect, which might reduce the need for further trade limits...
...auctioning of quotas has been put into effect by only two countries, Australia and New Zealand. It could create potential complications for a trading nation as large as the U.S. Many U.S.-based importers and retailers believe that auctions could disrupt their steady supply of foreign goods. But advocates of the idea predict that an active secondary market for so-called quota tickets would quickly develop, so that bidders who wound up with excess quota allowances could sell their tickets to others who come up short...