Word: rapidly
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...output of goods and services will be increasing more slowly. But the growth rate will slip only from one that clearly was too fast to last to a pace that can be kept up for years. And the new rate, somewhere between 3% and 4%, will still be so rapid that it would have been considered outright boomy not long ago. Unemployment will still be low, jobs plentiful, inflation modest, paychecks and profits robust. And the government will be raking in big enough surpluses to afford room for whatever tax and spending plans the new Chief Executive might push through...
...also impressed by how much better the economy is performing than anyone would have thought possible even a few years ago. Today's Fed, he proposed, is engaged in an experiment to see if the unemployment rate can be held permanently at around today's low 4.1% without triggering rapid inflation. The test may or may not work, says Blinder--but if he or Lindsey had suggested that the idea was even worth an experiment when they were both on the Fed, they would have been politely escorted out of the room...
...first glance that might seem--well, Panglossian. But whatever the actual numbers, board members agreed that the economy's potential for sustained rapid growth with only mild inflation is "a whole lot higher than we thought seven years ago, five years ago," in the words of Robert Reischauer, president of the Urban Institute and a former director of the Congressional Budget Office...
...Water Engine provides the same themes of despair, exploitation, and corporate greed as are found in other Mamet productions such as the Pulitzer Prize-winning Glengarry Glen Ross. But don't expect strict realism, or the rapid-fire tough talk for which Mamet is known. Mamet originally wrote the play in 1976 as a radio play for National Public Radio, not for the stage. But director Stephen Benson, making his debut with the Pet Brick Players, takes up the challenge. The set - a radio studio, fitted with old-fashioned microphones - bolsters the theme of communication stressed throughout the piece...
Disregarding, for a moment, the motivation behind such an argument, does Microsoft have a point? Have certain sectors of our society progressed so much and in such a rapid fashion that our current legal system and its employees are simply incapable of using the same old approaches to untangle increasingly complex issues of legality...