Word: thurow
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...imperative of sacrifice remains. Lester C. Thurow's notion of a "zero-sum society" is instructive here. America faces long-term structural problems that cannot be solved without making people worse off in the short run. Unfortunately, the political climate of the last 25 years has encouraged us to resist this conclusion. Ever since Lyndon Johnson told us that we could have both guns and butter, voters have placed a high political premium on hiding the bad news, and politicians have invented ingenious methods of concealing...
...compared with supercomputer building or gene splicing. But the automobile, with its 10,000 parts and ever increasing complexity, remains one of the most challenging products to manufacture and a telling measure of an industrial society's capabilities. "Saturn will have enormous psychological impact on American business," says Lester Thurow, dean of M.I.T.'s Sloan School of Management. "If Saturn is successful, it will prove that it's possible to junk the old bureaucracies, change the corporate culture, change the adversarial relationship between union and management, and put it all back together right. If they succeed, it will...
...subject and design a test for it. That still leaves room for states and school districts to determine how material is taught. Besides, local control has hardly proved to be a miracle drug for improving educational levels. "Local school districts don't have incentives to work hard," says Lester Thurow, dean of M.I.T.'s Sloan School of Management. "I'm not worried about too much authority. I worry about too little...
That may well be the way in which the gas tax becomes more attractive: by default. "Everything else is worse," says economist Lester Thurow, dean of M.I.T.'s Sloan School of Management. For instance, Congress will be loath to fiddle with personal income tax rates so soon after the landmark Tax Reform Act of 1986. And while additional "sin" levies on alcohol and tobacco will be an option, they would raise far less revenue than a comparable gasoline-tax hike. At the same time, a national sales tax would be a complex experiment that lawmakers seem unlikely...
...lower dollar also means a decrease in the standard of living for many Americans. Prices of all imported goods will rise, as will those of many American goods whose producers see a way to increase profits and still compete. According to Thurow, there would be a serious risk of the United States heading "back to double-digit inflation" and suffering "a noticeable reduction in the American standard of living...