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...devaluation would have the same effect as a price cut from $14 to $13 a ton on coking coal sold to Japanese steel mills. The actual effect would be even greater, since the yen will go up a total of 17% against the dollar. American farmers stand to reap some of the biggest gains. For example, about half the Midwest soybean crop and 85% of the winter wheat grown in Washington State is sold to foreigners. Farmers look forward to still richer sales abroad now that they can drop their foreign-currency prices...

Author: /time Magazine | Title: The Economy: The Advantages of the Unthinkable | 12/27/1971 | See Source »

...building the House of the Book, the temple of the institute's new Jewish prep school, on one of California's Santa Susana hills. In big cities, he suggests, churches might emulate restaurants and cocktail lounges by having chapels on the tops of skyscrapers. The churches could reap economic benefits by renting their valuable ground space, but is Manhattan ready for a Noah's Rainbow Room atop the RCA Building? Is San Francisco ready for a Top of the St. Mark...

Author: /time Magazine | Title: Milestones: Cathedrals in the Clouds | 12/27/1971 | See Source »

What is to prevent Oscar from re-stealing a client's car? Nothing, he says, except his responsibility to maintain "good will." But if such an unlikely accident were to happen, he points out, the client would reap a windfall from his insurance company. The insurer would pay off on the adjusted retail price of the auto rather than the bargain price paid by the client-who could wind up making a profit of $3,000 or more...

Author: /time Magazine | Title: CRIME: The Hot Porsche Caper | 12/20/1971 | See Source »

...Macmillan. the Egyptian President was a sort of South Shore Mussolini. "In dealing with him [Nasser], every display of timidity or weakness was seized upon and exploited. No action, however generous or fairminded, could reap any reward." As for Dulles, his "vanity more than equalled his talents." At first Dulles told Britain that after seizing the canal, Nasser must be made to "disgorge what he was attempting to swallow." Then the "strange uncertainty of Dulles' own character and the light rein with which the President chose to ride him" began leading American policy along an erratic course. By Macmillan...

Author: /time Magazine | Title: Books: West of Suez | 12/13/1971 | See Source »

...environmentalists remain skeptical about the Green Revolution precisely because it depends so heavily on agricultural chemicals. Those chemicals boost harvests, but they also have unpredictable side effects that may not show up for years. In recent Philippine experience with new strains of rice, for example, farmers were delighted to reap bumper crops. But so many chemicals were needed that the fish in the paddylields and nearby waterways died. Result: more rice but less protein in the local diet-a net loss in food values...

Author: /time Magazine | Title: Environment: Who's for DDT? | 11/22/1971 | See Source »

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