Word: runaways
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Dates: during 1970-1979
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...Chicago, the poisons seeping into the Love Canal. The frustrations of economic theory were revealed by the inability of the disciples of John Maynard Keynes, the British economist whose market-manipulating philosophies have dominated policymaking since the 1950s and 1960s, to deal with the stagflation realities of laggard growth, runaway prices and receding productivity in the post-industrial...
...imagine a time when art will not be either. It has happened before, and can easily happen again. Those who pronounce on art's power as a hedge against inflation-as a commodity that rides the inflationary spiral, always ahead of money-tend not to mention that when runaway inflation lays waste an economy, as it did in Weimar Germany, the value of art collapses...
...come up with any runaway hits so far this season, but Fred Silverman's troubled network cannot be counted out. Its winter replacement shows include United States, by the creator of M*A*S*H, and a new dramatic series, Skag, starring Karl Maiden. This summer NBC has the bonanza of the Olympic Games. Says Advertising Executive Chuck Bachrach: "The jury is out on Silverman. If he can maintain his standing until the Olympics, then I think everyone has a shot at No. 1 for next year...
When he boldly 'tackled the twin problems of runaway inflation at home and a hemorrhaging dollar abroad by tightening credit and raising interest rates a month ago, Federal Reserve Chairman Paul Volcker was almost universally hailed. The road down from 13% inflation would be long and difficult, but it was also imperative; and Volcker's policy was acclaimed as necessary. Now the costs of the descent are beginning to become evident...
Some airline executives argue that deregulation has helped the carriers cope with runaway costs. Insists John Zeeman, vice president of passenger marketing at United: "If we did not have deregulation we would have been hurt worse. We have problems catching costs but we are now more flexible and can better respond to the market." The real test of that will come next year, when air travel is expected to drop as the recession begins to bite deeper. "The jury is still out," says Edwin Colodny, chairman of USAir (formerly Allegheny). "There will be no full answer on deregulation until...