Word: spiralled
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Dates: during 1970-1979
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Brave words?and in a sense, incredibly true. On that late winter day in 1953, the two unknown scientists had finally worked out the double-helical shape of deoxyribonucleic acid, or DNA. In DNA's famed spiral-staircase structure are hidden the mysteries of heredity, of growth, of disease and aging?and in higher creatures like man, perhaps intelligence and memory. As the basic ingredient of the genes in the cells of all living organisms, DNA is truly the master molecule of life...
Such improvements have only set off the spiral already familiar in the West?of rising expectations. The Soviet consumer is finally beginning to demonstrate that he will not tolerate shoddy treatment forever. Last year private saving rose 20% because consumers refused to spend their money on badly made goods. A million TV sets remain unsold not because Soviet consumers cannot afford them but because they want wider screens...
...leveling of the inflationary spiral was as important as the business decline in calming social tensions. Since early 1969 the inflation rate has not increased, though it has yet failed to decline noticeably. When prices began to rise in 1966, those relationships became distorted. Savers were penalized and speculators rewarded. People were angered at stockbrokers' taking four vacations a year and plumbers making $20,000; they felt that neither deserved it. "Inflation is a sign that something is terribly unbalanced in society," says Economist Sam Nakagama. "There is normally a relationship between effort and reward. Inflation rewards speculation...
...President gave the construction industry a 30-day deadline to come up with its own proposals for halting the wage and price spiral, but that deadline expires today...
Dunlop, who has served as a labor consultant for every president since Franklin D. Roosevelt '04, has discussed the wage and price spiral during the last month with officials of the 17 national unions which constitute the Building and Construction Trades Department...