Word: spiralling
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Dates: during 1970-1979
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Last week Cronin issued a statement which set the fair profit rate for a landlord at between 10 and 15 per cent of the market value of the property. Tenant groups throughout Cambridge have attacked this standard as one which will again cause rents to spiral. The Cambridge City Council has called for a hearing on the matter at 8 p. m. tonight...
...mountain itself, the most common injuries used to be simple fractures of the lateral malleolus, or anklebone, and low-level spiral fractures of the tibia and fibula. But now that higher, more rigid ski boots are in style, doctors are encountering the more serious "boot-top fracture," in which the tibia and fibula are snapped well above the ankle. A simple ankle fracture takes six to eight weeks to knit properly; a simple boot-top break can require as long as 16 weeks...
...relative prosperity is testimony to an economic turnaround. Only 17 months ago, France was beset by inflation; it arose from the student-worker riots of 1968, after which a 15% wage increase was necessary to restore tranquillity. The danger of a runaway price-wage spiral and loss of confidence in the economy seemed so acute that Finance Minister Valéry Giscard d'Estaing brought out every modern anti-inflationary weapon: a devaluation of the franc, tight credit controls, the highest interest rates in Europe, a temporary price freeze and a strict limit on wage increases...
...society can keep from constantly ricocheting between the perils of inflation and unemployment? Some scholars think not, at least not without the most draconian action. John Kenneth Galbraith has become the voice of despair. He insists that, given the power of unions and companies to keep a wage-price spiral going even in a dragging economy, inflation can be curbed only by clamping on permanent wage-price controls...
...fiscal and monetary policies can have an influence. The O.E.C.D. recently concluded that incomes policies usually help restrain inflation for a year or two. That might be just what the U.S. needs to get through the difficult transition period when excess demand no longer exists but the wage-price spiral is whirling...