Word: term
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Dates: during 1970-1979
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...classes since the 1940's. But they backed off from wholehearted support of the merger, claiming it would be imprudent to take a stand until they fully examined the implications of what they referred to as "the irrevocable merger." The vote also required--by the end of the spring term--that their rerun merger committee study on the findings of the four administrative merger committees. The Faculty never heard from them again...
...favorite panacea to unemployment induced by more efficient foreign competition. While the pressures of free trade displace only a relatively small segment of the domestic labor force, these unemployed are highly visible, and in the context of high unemployment, a democratic government is hard pressed to adopt short-term palliatives. Producers like protectionism because it is a form of government support which interferes least in their affairs. Workers in declining industries like it because it saves their jobs. The government likes it because it is a form of assistance that requires little expenditure. But the only groups protectionism does hurt...
...unemployment, American workers might be tempted to vote for the politicians who promise to safeguard their jobs in the short-run by restricting imports. But over the long haul, such a policy will only hurt these workers as consumers. And worse, scrapping free trade ultimately will erode the long-term welfare of the American worker, which protectionist politicians claim so vigorously to protect...
...SALT II, Baker stunned the congressional Republicans last year by supporting ratification of the Panama Canal treaty, which gave the Panamanian government control of the waterway. Despite rumors he had unforgivably deserted the party line to save a Democratic president, Baker easily won re-election to a third term in the Senate...
...taking ever-larger risks, and today--though it remains prudent compared to most private investors--Harvard is buying more stocks. "We think stocks got over-valued from 1950 to 1972, and now there's a pendulum swing the other way," Putnam says. "We're taking this as a long-term opportunity to get some damn good stocks cheap," Cabot says...