Word: reals
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Dates: during 1960-1969
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...real picture is even bleaker than the figures suggest. About $3 billion or $4 billion of the nation's exports come from Government-financed sales of foreign-aid supplies and military goods. Not counting all that, the U.S. "commercial" trade will be in the red this year for the first time ever. Expected deficit: $2 billion to $3 billion...
...Small Giant. Now McCracken will head a 45-man staff. Though the council is a pygmy among Washington agencies in terms of size, it can be a giant in influence. Started in 1946 by President Truman, the council rose to real power when John F. Kennedy appointed Walter Heller to be chairman in 1960. Heller was the leading advocate of the Keynesian "New Economics"-the policy of flexibly adjusting taxes, Government spending, and the money supply to influence the economy -and he sold Kennedy on the idea of cutting taxes to stimulate business and employment. His successors, Gardner Ackley...
...business. The current 10% tax surcharge helped convince him that tax increases are not only difficult to ram through a constituent-minded Congress but usually have slow effects when finally enacted. "We are beginning to realize," says McCracken, "that fiscal policy is simply not available to us in the real world to influence short-run changes in business activity...
Beating the Book. Among many horror stories uncovered in the investigation was that of a Houston real estate man, who complained that he bought a 1967-model car for $7,000-and has had to return it to the dealer for repairs 27 times. Was the car defective or the repair work ineffective? Probably both. Glenn F. Kriegel, operator of a Denver "diagnostic center" that inspects cars for signs of trouble but does no repairing itself, checked 7,000 cars after they had left service shops in his area; less than 1% of them had been fixed properly, and some...
...only a conclusion: there is no such thing as indifference; an abstention from humanity is a vote for evil. When Yakov goes to trial the story halts, as if the future were epilogue. Unfortunately, it is not. Malamud based his novel on the agonies of a real Russian Jew, Mendel Beiliss, who was finally exonerated. Torn between actuality and false doom, The Fixer becomes a victim of artistic indecision...