Word: reichs
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Dates: during 1980-1989
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...invasion of India. The most intriguing theory is that their ancestors were the original Aryans, the prehistoric Indo-European people whose language and light skin linger on in the speech and appearance of modern Europeans. Fascinated by this possibility, Adolf Hitler in 1938 reportedly dispatched one of the Third Reich's racial experts on a personal survey of the Minaro region. It is said that Hitler even considered sending a number of blond German women to have children by these "pure" Aryans...
...Reich began by conceding that the whole concept of industrial policy is being lost in a cloud of confusion. Said he: "Industrial policy is one of those issues that have gone from relative obscurity to near meaninglessness without any intervening period of coherence...
...addition, the Defense Department's Advanced Research Projects Agency is expected to spend nearly $1 billion by the end of the decade to help firms look into supercomputers and other hightechnology areas. "We have all kinds of decisions being made all over Washington that affect particular industries," Reich said, "but there is absolutely no understanding, no coordination, no overall strategy...
...Reich advocates bringing these activities out "from under the table." He argues that both declining industries like steel and emerging ones like robotics should be given Government assistance only in exchange for accepting industrial-policy coordination. Fading industries like steel, which are demanding protection from foreign competitors, might be given temporary relief from imports if managers and workers accepted pay cuts and more flexible work rules. Whenever high-tech firms receive Government help, Reich would like to see them match public funds for research ventures with their own spending and make commitments to keep R. and D. operations...
Differing sharply with Reich was the Brookings Institution's Charles L. Schultze, President Carter's chief economist. Any attempt at industrial policy, said Schultze, is more likely to do harm than good. While he approved Government support of research and development and Government-financed job-retraining programs, Schultze warned that a "coordination" program would almost surely increase protectionism and unwarranted subsidies. Said he: "A Government agency that explicitly tries to sit there and say, 'The cotton industry can live but the wool-textile industry will die' or 'The Youngstown steel plant can be rehabilitated...