Word: reals
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Dates: during 1960-1969
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Friedman has a big recipe for economic reform, and he calls for an end to many politically sacred Government programs. A sampling of his ideas: FOOD STAMPS. "There is nothing you can do with stamps that you cannot do better by giving people money. The real drive behind food stamps is not to help the poor; it's to dispose of farm surpluses." Friedman calls the farm-subsidy program, which piles up huge surpluses in grain elevators, "a free-lunch program for mice and rats." PUBLIC HOUSING. "It was instituted in the 1930s to improve the housing of the poor...
...prices, which often continue rising long after general business turns soft, have continued to climb. They are rising faster than wages?and wages are rising faster than workers' productivity. When productivity slackens, real labor costs go up, and companies often make up the difference by increasing the prices of their products. The cost of living rose 5.9% this year and has gone up by 20% since 1964. The dollar of that year is worth only 84¢ today...
Economists tend to agree on the business profile for 1970: a rise in jobless ranks to 4¼% or 4½% of the labor force; 4% price inflation, probably tapering off toward year's end; sluggish 2% real growth in the over-all economy, which will expand from $933 billion to $985 billion or $990 billion. A few sectors of business anticipate substantial difficulties. Auto manufacturers (except Ford) have already curtailed production a bit, and some retail merchants figure that they will have to hustle to maintain their sales volume. "The consumer is beginning to stiffen up," says Ralph Lazarus, chairman...
...Real Growth Inflationary Total Growth Unemployment (in billions) Growth* Average Peak...
...possession," he observes in an Iago-like attempt to dominate the inquisitive colonel. "War is the great sexual game. You could say that castration is the goal. And enemies are always, in a sense, lovers. They experience an interesting comradeship in their fear. And the true soldiers-the real killer-is always glad to have an object to murder. He wants to put his training to work and mate with his victim in a little dance of death, you see." And so, it turns out, does Clive...