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...steadily moving. Czechoslovakia will instead adhere to "economic management by a single national plan." Thus the Czechoslovak leader committed his country to the same sort of stifling centralization that almost ruined its economy in pre-Dubč days and has plagued the Soviet Union's economy with ruinous inefficiencies. The illogic of such a decision was hardly surprising in a nation where invaders are hailed as liberators, popular leaders have become the publicly disgraced, and history is rewritten. The only hopeful sign is that Husák so far has successfully avoided the demands of hard-liners for show...

Author: /time Magazine | Title: CZECHOSLOVAKIA: A People Dissolved | 6/7/1971 | See Source »

...Council of Economic Advisers condemned the 13% wage increase recently won by steelworkers in the can industry as "clearly in excess of" productivity gains. The council warned that any such settlement granted to workers in the steel industry at large during this summer's negotiations could be ruinous to the industry's competitive position abroad. This was the first CEA "inflation alert" that sought to influence a pending contract, and it thus brought Nixon one reluctant step closer to forming an official incomes policy. As he continues to pursue the goal of a healthy economy long before Election...

Author: /time Magazine | Title: THE ECONOMY: Making Progress Slowly | 4/26/1971 | See Source »

...drew a Yom Kippur-sized crowd: the July day when he had to delay a wedding ceremony in order to satisfy the couple's wish that they be pronounced man and wife at the moment the astronauts landed on the moon: the mother who decided on a ruinous $15,000 bar mitzvah so that "we'll be able to face our neighbors." In perhaps the most appalling passage, Siegel records his question to a confirmation class: How many of them would give up their Judaism if it was necessary to get into a good college...

Author: /time Magazine | Title: Religion: Two Rabbis Rock the Boat | 3/15/1971 | See Source »

...competition to build the engines for the Lockheed L-1011 airbus, a 256-pas-senger trijet that is supposed to start flying for TWA and Eastern late this fall. Britons had hailed the contract award as a triumph of export salesmanship by Rolls, but it proved instead to be ruinous. Rolls agreed to deliver 540 engines for the "TriStar" at a fixed price of $156 million; by last November it had concluded that the cost of building them would be more than twice that. It asked the British government for help and got some loans, but not enough. Last week...

Author: /time Magazine | Title: Business: Lockheed's Rough Ride with Rolls-Royce | 2/15/1971 | See Source »

...assembles: the policemen Gates and Luke, the trouble-prone Faraday clan, Sister Val. Perhaps the apogee of Campion's career occurred early in World War II in one of the best episodes, Traitor's Purse. He is called upon to save his embattled country from a massive, ruinous counterfeiting scheme, and he does-despite the fact that throughout the book he has amnesia induced by a blow on the head...

Author: /time Magazine | Title: Books: Exit Mr. Campion | 2/1/1971 | See Source »

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