Word: slow
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Dates: during 1970-1979
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...Finley was playing a game when he threatened to close to the plants. He wanted to intimidate Gov. Dukakis and create tension in the state to slow the boycott down," he added...
...such a tumble, the leaders of seven* nations have journeyed four times in the past three years to much-heralded economic summits, where they have issued ringing, sometimes even rambunctious, declarations about their resolve to cure ills. So far, they have been unable to solve the multiple problems of slow growth, threatening levels of inflation and high unemployment. Last week, as the leaders of the Seven returned home from the Bonn summit, the question was: Would anything be different this time...
Western Europe. Until now, West Germany has accepted the discomforts of slow growth and high unemployment (1 million, or 4.4% of the work force) in order to keep inflation at a low 2.7%. Schmidt promised to do what he had planned even before the summit: put in a stimulus plan. It calls for pumping $7 billion into the West German economy, largely through tax cuts, and should make his country a larger buyer of imports. Britain's James Callaghan, who faces elections in the fall, was the most cautious. He pledged only to continue his present policy of expanding...
There will be another summit next year, it was agreed, probably in Tokyo. But the inability of past summits to accomplish much brought forth a question that haunted some of this year's participants: Has the world entered a new era of slow economic growth...
...experts agree. "I believe the slow growth theory is very dangerous," says Manfred Wegener, the chief European Community forecaster. "It could too easily become a self-fulfilling prophecy." Assistant Secretary of the Treasury C. Fred Bergsten is optimistic. Says he: "I'm not sure you can't get back to higher rates of growth. Everyone is running well below historic rates of capacity...