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...Rapid Rate. The first-half surge is a bit of beginners' luck for the Carter Administration, which took over at the ragged end of a painful business slowdown and, without having made any radical changes in the Ford Administration's policy, now finds itself at the helm of a briskly moving economy. Few experts expect the first half s rapid rate of growth to continue through the second half-though nobody is forecasting anything like a recession. Charles Schultze, the President's chief economic adviser, forecasts a steady if unspectacular 5% rate of expansion for the rest...

Author: /time Magazine | Title: OUTLOOK: Slower, but No 'Pause' | 8/1/1977 | See Source »

...example, a company might hire three men for warehouse jobs instead of one man and a forklift. Under these conditions, says Jorgenson, "more new jobs are created and fewer are wiped out by technological change. As a consequence, we are going to have a more rapid return to full employment than people expect"-that is, when all but 4.5% to 5% of the work force have jobs...

Author: /time Magazine | Title: Business: A High Price for Full Employment | 8/1/1977 | See Source »

Esoteric Devices. Partly, the U.S.S.R.'s computer development lags because of its decision not to foster the kind of consumer society that has nurtured the rapid growth of the industry in the West. Of the large number of computers installed in the U.S. (300,000, v. an estimated 22,000 in the Soviet Union), fully three-quarters of them are engaged in commercial operations-everything from billing credit-card accounts and writing paychecks to sending flowers by wire and keeping baseball statistics up to date...

Author: /time Magazine | Title: SOVIET UNION: Computer Games | 8/1/1977 | See Source »

...could they be certain that some future Panamanian ruler might not shut off the canal to their ships in a totally unforeseeable squabble? Largely because of this agreement, General George Brown, Chairman .of the Joint Chiefs of Staff, says he is "satisfied" with the negotiations so far and supports rapid conclusion of both treaties...

Author: /time Magazine | Title: FOREIGN RELATIONS: New Deals for the Big Ditch | 7/25/1977 | See Source »

...visitors from the second to the third observation platform. The newsmagazine L 'Express quoted from a confidential 1970 report by the tower's chief engineer, who had warned of the lift's "serious fatigue." A cylinder might burst, he contended, causing the cage to make "a rapid and uncontrollable descent" with its 80-passenger load. The elevator has not yet been fully repaired...

Author: /time Magazine | Title: FRANCE: The Ailing Grande Dame | 7/18/1977 | See Source »

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