Word: short-run
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...Western Hemisphere, (granting their optimistic stock-piling, substitute-developing, and full domestic exploitation assumptions); they will nod a little more dubiously when the authors discuss U. S. defense bases and army-navy-air power; they may still be nodding when the argument is persuasively made for at least the short-run military impenetrability of the Western Hemisphere. But as the authors draw steadily away from the safe ground of indisputable fact and into the whirlpool of opinion, this head, at least, registers dissent. Wide though the military and strategic knowledge of Messrs. MacLiesh and Cushman may be, they are entirely...
...tenure controversy. The whole business might never have arisen if students and faculty members had not become acutely aware that certain excellent professors giving superior courses were being forced to leave. In fact, the only reason for participation in the controversy by students--who rightly have a short-run view--was the hope that some arrangement could be made to keep the men. With the new rules of the game, the original slip can be corrected...
From the Administration's point of view it is the "frozen" associate professorships, not administrative democracy or alleged short-run teaching shortages, which is the immediate and pressing problem...
...Council has suggested two alternatives to the Administration's present course: the setting up of a "President's Fund" to take care of pressing short-run departmental needs; and the appointment of associate professors even without the mathematical certainty that they will be promoted to full professorships. These proposals are neither impractical nor startling. Both were implied in the Committee of Eight's Report, and the "frozen" associate professorships have been urged by the Crimson, the Progressive and the high-sounding "Committee to Save Harvard Education." Skirting the broad issue of dictatorship (however benevolent) versus democracy in Harvard's administration...
...carried on in a time of business contraction. Don't worry about balancing the budget until better times come, he advises, and then make the repayments to investors in government bonds. Rogers points out that what is needed in a budget policy is a long-run rather than a short-run balance, and that after all "a year is a pretty arbitrary accounting period . . . In fact . . . it might be almost as rational to demand that the balance appear each month." The author concludes by warning that if no solution to these afflictions is forthcoming that capitalism is doomed. He presents...