Word: rapid
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...economy still has a good deal of upward momentum, which will have to be moderated by rising interest rates at some point. The gross national product rose 8.8% in the first half of the year and is now moving ahead at between 4% and 5%. That is still too rapid a rate to be consistent with stable inflation...
Although in the past two decades Third World economies have had higher growth rates than those of the U.S. and Western Europe, in many countries that advance has been severely diluted by rapid population growth. Between 1955 and 1980, for example, per capita income in the U.S. grew from $7,000 to $11,500 (expressed in constant 1980 dollars), while in India it increased from $170 to $260, nearly doubling the disparity between the two countries. By the year 2000, some 630 million young adults will join the Third World's labor force, while industrialized countries will add only...
...caused by efforts to palliate the rising tide of urban consumers. In such countries as Tanzania and India, where people depend on firewood for fuel, deforestation is damaging flood control, speeding erosion and adding to the hardship of merely staying alive. Citing the example of China, McNamara warns that rapid population growth may also lead to greater and more coercive state intrusions into private life, ranging from forced sterilization to restrictions on freedom of movement...
Such efforts, however, require not only will but money. The World Bank estimates that $7.6 billion will be necessary if the Third World is to achieve a rapid decline in fertility by the year 2000. That figure pales against the estimated $600 billion a year that the world spends on armaments. Indeed, the funds spent on population control would probably turn out to be a bargain. Says Conference Organizer Salas: "There is a lack of understanding among policymakers of the links between population and global stability. " ? By George Russell...
...most serious risk to Reagan's election-year economy is the possibility that the rapid growth in private credit demand and this year's projected $175 billion federal budget deficit will push up interest rates. During the late winter, the Federal Reserve Board, fearful that the rapidly expanding economy would set off new inflation, slowed the growth of the money supply slightly and helped push the prime rate that banks charge corporate customers from 11% to 13%. In testimony before Congress last week, though, Federal Reserve Chairman Paul Volcker said that in view of recent inflation reports...