Word: term
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Dates: during 1970-1979
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Kenneth J. Arrow, Conan University professor and a Nobel prize winning economist, said in a letter last month that the Corporation's estimates of both the long and short term costs of divestiture are too high, although "there is necessarily a wide degree of uncertainty about predicting effects of any stock market transactions...
...city needed loans because of a practice, begun by Mayor Robert F. Wagner Jr. in May 1965 of borrowing short-term notes, payable within one year, to fill budget deficits. As if that was not bad enough, Wagner's collateral for the loans was Bond Anticipation Notes (statements of what the mayor expected to collect in taxes) based on the mayor's own estimate of the next year's revenues, rather than on last year's revenues. The effect of this practice, continued under subsequent administrations, allowed mayors to anticipate much more revenue than they knew the city would receive...
...ACSR report, the Corporation concluded that divestiture "is only appropriate under extremely limited circumstances" because "it is a relatively ineffective means of pursuing ethical ends." The statement called divestiture a "last resort" to be employed only when a company fails to adhere to reasonable ethical standards, long-term efforts to change company policy have failed, and future efforts seem doomed to failure...
...know the present food needs of the world are not being met. But the greatest instability in food supply is in the poorest countries, not in the developed countries. According to the International Food Policy Research Institute, "the term 'food crisis' still has meaning"--in Asia and sub-Saharan Africa "where the effects of the food crisis in 1974 were most severe." But, the Institute concludes, "for the world at large" grain is abundant, has declined in price, and is being stock-piled...
...opportunity, and with the declining value of the dollar, they can be invested nowhere more profitably than in the United States. As any real estate broker could tell you, to some extent they are. Nevertheless, the second greatest contributor to our balance-of-payments deficit, after oil, is short-term capital overflow. The problem, again, is not the generating of enough capital. It is keeping it here...