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...years has become less and less firmly anchored in the real economy; increasingly, the economy behaves as if it were indexed. What that means is that wage rates tend to chase prices, and, in turn, push up labor costs, which in turn, push up prices--a "dog-chasing own-tail" inertial process that, once it becomes embedded in the economy at a certain speed, is very hard to slow down. If yesterday wage rates were rising at 9 per cent, with trend productivity increasing at 1 per cent and therefore labor costs per unit rising at 9 minus...

Author: By Compiled SUSAN Chira, Amy B. Mcintosh, and Richard Strasser., S | Title: The Dismal Science? | 1/7/1980 | See Source »

...jeered Iran's tempestuous Ayatullah Ruhollah Khomeini. "The noises he makes are similar to those of a frightened lion, who does three things: he roars in the hope of frightening off his challenger, he makes rude noises because fear causes his muscles to contract, and he sways his tail in hopes of finding a mediator...

Author: /time Magazine | Title: Nation: The Cruel Stalemate Drags On | 12/31/1979 | See Source »

When Halley's Comet last streaked across the skies in 1910, it was for many an unwelcome visitor. Fearful that the earth would be enveloped by deadly gases in its glowing tail, people bought comet pills to ward off its effects, and held end-of-the-world gatherings. In 1985, when the comet returns-as it does every three-quarters of a century -it should get a friendlier reception. In fact, NASA is planning a scientific welcoming party in space...

Author: /time Magazine | Title: Science: Tailing a Comet | 12/24/1979 | See Source »

...limousines queue up at the curb like a funereal parade. As if staged by some cynical scenarist, a drunk's reflection appears in the shiny black of one of the cars. He ambles slowly, his image distorts as it sweeps over the doors, door handles, smoked windows and tail lights of one limo and forms again on the next, moving down the line until it drops off, lost in the gutter. Across from the Royale Theater, where a golden marquee has promoted Grease for seven years, the drunk stops to shuffle through a mesh trash can. He finds nothing...

Author: By David Frankel, | Title: At Loose Ends? Get Out | 12/12/1979 | See Source »

...arguments hissed after each other like a confused dog biting after its tail. Broke down and full of nonsense and waiting for the sunrise so he could sleep, he tried a different tactic: "Do you know about punji sticks...

Author: By David A. Demilo, | Title: The Color of Their Brains | 12/8/1979 | See Source »

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