Word: scarcer
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...urban land grows ever scarcer and more expensive, planners are increasingly turning their eyes skyward to the unused space overhead. And when they survey the city, the airspace that stands out most is that over open railroad tracks and highways...
...rude, ignore hails and refuse to take Negroes to Harlem are familiar: the police department gets 500 of them per month. What New Yorkers really wonder about, as they try in vain to get a cab during rush hour or rainstorm, is whether or not cabs are becoming scarcer...
...money panic. Prime interest rates went up four different times, shooting from 4½% in late 1965 to 6% in mid-1966 - equal to an increase of 33% in twelve months. A wave of hedge-borrowing and money hoarding swept the country. Figuring that money would become steadily scarcer and costlier, corporate treasurers borrowed more than they needed. In June, the Chase Manhattan Bank raised interest rates on most consumer loans for the first time since 1959, to 5½% "discounted" (in effect 10½%), and other banks quickly followed. Bargain-hunting consumers rushed to borrow at 5% on their...
Capital for investment is becoming scarcer because of Wilson's extraordinary Selective Employment Tax (TIME, Sept. 16). By forcing employers to pay a frankly discriminatory head tax on workers in the service trades and giving tax rebates to employers in export-oriented manufacturing industries, the measure aims to shift British workers out of areas that serve the consumer and into those that serve the pound. The tax is siphoning cash out of corporate treasuries at an annual rate of $2 billion, which is about one-fourth the amount that private industry normally invests in capital improvements. One other result...
...coun tries are looking to monetary policies alone for avoiding the inflationary im pact." So said Federal Reserve Board Member Dewey Daane last week, focusing on the fact that the U.S., among other countries, has sought to restrain its economic exuberance by making money costlier and scarcer than at any other time in the 1960s...