Word: tacked
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Dates: during 1970-1979
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Economist Walter Heller sees some hope that strict enforcement of Phase IV rules will at least hold down price increases. Under those rules, sellers may raise prices only enough to pass on increased costs dollar for dollar; they cannot tack on an additional profit markup. Cost of Living Council Director John T. Dunlop complained to friends last week, however, that he is having difficulty recruiting people to check up on price boosters. Prospective employees apparently believe that the program will be dropped in a few months, leaving them without jobs. Treasury Secretary George Shultz did nothing to discourage such speculation...
...emeralds, sapphires, rubies, and of course gold. Prices of these and other luxury goods have been rocketing as a result of dollar devaluation and inflation-fired demand. Indeed many will continue to rise during the price freeze. Reason: most of these goods are imported, and retailers are allowed to tack on increases that they have to pay to their foreign suppliers...
There are, of course, rather obvious reasons for taking such a tack. As Editor Daniel Kraminov of the Soviet weekly Za Rubezhom bluntly put it: "A few years ago, certainly, we would have underlined more strongly the dirtiness of American political life. Now we are observing an old Russian proverb which says: 'Never throw mud into the house you are about to enter...
Horses walk stiff-legged in the cool morning air to the track where they work out, their impassive exercise boys sitting aboard them. At the barns the trainers are supervising the morning's activities; the grooms are cleaning out the stalls or putting the tack on a horse about to go to the track; the hot-walkers are leading the horses that have already been to the track round and round until they have cooled out from their exercise. All with hardly a sound, as if the whole busy scene had been captured in a silent movie. A person...
Thomas Kimball, head of the National Wildlife Federation, took a different tack. "What we need," he told the conference, "is a national energy policy-not a national energy sales policy." Most environmentalists and consumerists want assurances that those shortages will not cause the Federal Government either to reverse existing environment laws or to allow big hikes in the price of energy. If the price of interstate gas were allowed to climb by 30%, they say, the value of natural-gas reserves would climb by $300 billion...