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...designed to lower the growth rate from 7.5% to 4.5%-and prices and wages with it. By imposing a merciless credit hold-down, Italy braked industrial growth from 5% to 1.5% last year. Along with the other problems of its economy. Britain is alarmed by its quickened wage-price spiral. The cost of living has jumped 4.6% in the sharpest twelvemonth rise in a decade, and British housewives this month found that prices had risen for some 3,200 different grocery items, from porridge to pickles...

Author: /time Magazine | Title: Western Europe: The High Cost of Living | 1/29/1965 | See Source »

Even royalty has been affected by the wage-price spiral. Though Belgium's King Baudouin and Queen Fabiola cut back their palace staff from 302 to 188, wages have risen so much that the King has been spending almost all his income on upkeep. At his request. Parliament last week voted him a $160,000 raise in salary to $1,000,000 a year. To make sure that he will not be caught in such straits again, Parliament also decreed that Baudouin's wages, like those of every Belgian union man, will henceforth include an automatic cost...

Author: /time Magazine | Title: Western Europe: The High Cost of Living | 1/29/1965 | See Source »

...King sees four plateaus within a skyward spiral of interracial progress. Down at the bottom is slavery, initiated in 1619 with the first shipment of African captives to the New World. Next comes segregation, a phase begun with the Emancipation Proclamation in 1863--"slavery obscured by the niceties of complexity." In the third stage, which includes the Supreme Court decision of 1954 and the Civil Rights Act of '64, segregation becomes illegal. That's where we are now. Legislation can't change the heart, but it can "restrain the heartless. It can't make a man love...

Author: By Jacob R. Brackman, | Title: Martin Luther King | 1/13/1965 | See Source »

...Last fall Macy's opened an $11 million store next to a highway in downtown New Haven, and next September it will move into the borough of Queens with a cylindrically shaped building that will be the ultimate drive-in: the customer will drive up one of two spiral ramps, peel off at any one of six parking levels, leave his car at the spot nearest the department he intends to visit. He will never have to walk more than 75 ft. from car to counter...

Author: /time Magazine | Title: The Economy: The Great Shopping Spree | 1/8/1965 | See Source »

Mondrian in Motion. Calder made his restless, looping pencil line draw in wire, caricaturing his audience, sometimes with barbs. The toast of Paris, Josephine Baker, was his first metal portrait in 1926; her belly button turned into a shimmying, shaking brass spiral. All that was delightful, a gadgeteer's daydream, until one day Calder visited Mondrian's studio...

Author: /time Magazine | Title: Sculpture: Toys for All Ages | 11/20/1964 | See Source »

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