Word: sectoral
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Dates: during 1970-1979
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ABCs may be a headache for the scheduled airlines, but they could prove a minor worry compared with another nightmare looming on the aviation horizon-Skytrain, Freddie Laker's proposed international air shuttle. Skytrain is aimed at a sector of the travel market that even the ABCs do not cater to: passengers who are both on a budget and unable to plan ahead for cheap charter fares. They include, in Laker's definition, the less than affluent citizen "who gets a call that Aunt Matilda is very sick and wants to visit her before she dies...
National Joke. Just about nobody is ever fired in Israel; the Jewish state, refuge for the persecuted, does not want to give its citizens a still harder time. Inefficiency, particularly in the public sector (266,600 employees), is a bad national joke. So productivity is low, and growth has been slow...
...that derive from Schumacher's alternative metaphysics is a major change in foreign aid and development policy. Two phenomena that characterize many developing countries today are mass unemployment and mass migration into the cities. Schumacher sees these twin evils linked by "mutual poisoning." Successful creation of a modern economic sector in the cities destroys the natural economy of the rural areas. The countryside, in turn, exacts its revenge, however; the rural population floods into the cities. This migration saps the cities' resources and makes them impossible to manage. The modern sector can't grow to absorb the entire population...
...Which would be more important, stimulating the private sector or enlarging the public sector...
...think the private sector. But you have to remember how tightly they're interrelated. Public money can ultimately be used to stimulate the private sector. An illustrative point would be in the housing field, where Government action to encourage the building of homes can be done with a minimum expenditure of public funds, but a maximum amount of benefits...