Word: rosee
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Dates: during 1960-1969
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Message of Peace. Throughout the world, hopes rose that the guns would somehow stay silent for good...
...days of old, when peers were bold, and life peeresses weren't invented, Britain's House of Lords decreed that when a member rose to speak he must be "uncovered"-meaning wearing neither hat nor coronet. But Baroness Burton of Coventry, 61, feels positively naked without one of her "super-trilbys" on. And besides, she trilled to the Lords' procedural committee, every time a lady doffs her hat just to do some talking, she wrecks the hairdo. With matters thus brought to a head, the committee waived the 344-year-old rule, allowed that the girls could...
...sharper expansion than any other major nation. Even the most optimistic forecasts for 1965 turned out to be too low. The gross national product leaped from $628 billion to $672 billion?$14 billion more than the President's economists had expected. Among the other new records: auto production rose 22% , steel production 6% , capital spending 16% , personal income 7% and corporate profits 21%. Figuring that the U.S. had somehow discovered the secret of steady, stable, noninflationary growth, the leaders of many countries on both sides of the Iron Curtain openly tried to emulate its success...
...full employment of materials and machines as well as of men. Before Keynes, classical economists had presumed that the economy was naturally regulated by what Adam Smith had called the "invisible hand," which brought all forces into balance and used them fully. Smith argued, for example, that if wages rose too fast, employers would lay off so many workers that wages would fall until they reached the point at which employers would start rehiring. French Economist Jean Baptiste Say embroidered that idea by theorizing that production always creates just enough income to consume whatever it produces, thus permitting any excesses...
Died. General Kodendera Subayya Thimayya, 59, Indian commander since last year of the U.N. peacekeeping force on Cyprus, who gained widespread respect for his supervision of the Panmunjom prisoner exchange after the Korean War, then rose to commander-in-chief of the Indian army, but quit in 1959 over the pro-Red policies of Defense Minister Krishna Menon, only to return following Menon's ouster and earn the Cyprus job, which he carried out so well that the U.N. Security Council had just voted to extend his stay by three months; of a heart attack; in Nicosia, Cyprus...