Word: term
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Dates: during 1970-1979
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Davis Bates, 23, is in his last term at experimental Hampshire College in Massachusetts, majoring in "political theater and mime." So when his work in the college kitchen began to get boring, he turned to the salads to provide drama...
...risks of investment and led to extreme uncertainty, so that business decision makers have no confidence that an investment today of $1-or $1 billion-will pay off in the future. In a highly inflationary economy, managers have no sound means of estimating the real cost of a long-term project, no way of knowing whether profits will cover that cost. So they delay or abandon investment projects that seem marginal or chancy. Instead, they put the company money into a smaller number of investments that seem to be sure winners-or into buying out existing companies rather than opening...
Discourage Inflation and Encourage Stability. Limit the long-term increase in federal subsidies, Government benefits and budget transfer payments to the size of the real increase in economic growth. That is, if the gross national product after inflation rises 3% in a year, these federal payments may rise no more than 3%. Meanwhile, limit the growth in the money supply to a noninflationary 4% to 6% annually, year after year...
...1920s to show that "putting money out at the shortest intervals has been the best hedge against inflation." So Samuelson recommends that investors place their cash in six-month certificates of deposit in savings banks; or in the money-market funds-open-ended mutual funds that invest in short-term securities such as certificates of deposit, commercial paper and Treasury bills-that offer check-writing privileges...
Alan Greenspan, 53, economist, New York City. "First plant cash in short-term CDs, and then plan what to do with it later. Move the money out only if you find better yields elsewhere...