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...observed that four of the Nordic countries are each going through very different experiences. Sweden, for example, is struggling with wage and price increases that are 2% to 4% higher than those of its major competitors. This year wages may rise by close to 8%. Growth is expected to slow from 2.5% to 1% in 1986. In Denmark, by contrast, inflation and wage in creases are coming down to the rate of its partners in the European Community after years of rapid government spending. Denmark's major problem is a widening trade deficit, which is increasing the country's foreign...

Author: /time Magazine | Title: Heading into the Straightaway | 6/21/2005 | See Source »

Economic reform has been slow in both Spain and Portugal since the two countries ended authoritarian regimes and established democratic governments in the 1970s. The Spanish government has encouraged the shrinking of old-line industries, including steel and shipbuilding, as a way of shifting resources to businesses with brighter futures. But in the process, unemployment has risen to about 20%, from 5.3% in 1977. in Portugal, political instability, which has resulted in 16 governments in the past twelve years, has held back economic progress. The country's per capita annual income is $1,900, less than a third...

Author: /time Magazine | Title: New Members of the Club | 6/21/2005 | See Source »

Benefactors sharpens its bite on the two marriages it portrays: one disintegrates, the other survives but lapses into isolation and cynicism. Frayn's novels, notably Sweet Dreams and Towards the End of the Morning, also evoke the slow decay of marriage and depict children as noisy housewreckers. His own marriage effectively ended with a separation five years ago; his frequent companion, as British newspapers phrase it, is Claire Tomalin, literary editor of the London Sunday Times. Frayn says he remains close to his daughters, one a novice BBC staffer, another a would-be journalist, the third applying to universities...

Author: /time Magazine | Title: Show Business: Tugging at the Old School Ties | 6/21/2005 | See Source »

...some cases, people are successfully pressing claims that seem patently silly. One example: a man who attempted suicide by jumping in front of a subway train sued the New York City Transit Authority, contending that the motorman of the subway that hit him had been negligently slow in bringing the train to a halt. He won $650,000 in an out-of-court settlement...

Author: /time Magazine | Title: Nation: Sorry, Your Policy Is Canceled | 6/21/2005 | See Source »

...pinched the U.S. in 1973, high-speed, gas-gulping joyrides looked like something the nation could ill afford. Congress forced the states to impose a 55-m.p.h. limit, and a tradition died. Though lower speeds have saved countless lives and millions of barrels of oil, many road runners hate slow-motion driving. I Can't Drive Fifty-Five, a popular song by Sammy Ha-gar, has become the anthem of speeding scofflaws...

Author: /time Magazine | Title: Thunder Road: States fight the 55-m.p.h. limit | 6/21/2005 | See Source »

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