Word: timed
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Dates: during 1970-1979
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...severe will the slump be? TIME'S economists figure that, from this autumn's high to next year's low, the G.N.P. will decline a total of about 2.4%. That would be much less than the 5.7% plunge...
...most discouraging aspect of rising oil prices, said Okun, is that the recession will only temporarily and modestly constrain inflation. At very best, the rate of price increases will come down to 8%. After the 1974-75 recession, inflation was 5%, which at that time was considered "intolerable, horrible and unacceptable." Indexing, which automatically raises wages and pensions along with the price index, is not a cure but a disease that institutionalizes inflation, added Okun. He estimates that "if all payrolls were indexed instead of the roughly 15% that are now, the consumer price index would have risen more than...
...Many of TIME'S economists detect that the Administration is cutting big and small federal programs extremely sharply to hold down the budget deficit and take some heat away from rising prices. Still, Carter's aides are probably underestimating the size of the deficit. A recession would pull down tax receipts and increase federal spending on unemployment compensation, food stamps and other social programs. While the White House officially maintains that the 1980 deficit will be about $30 billion, some of TIME'S economists expect it to approach $50 billion. The problem will continue into fiscal...
...capital goods. One result: U.S. productivity, which had risen an average 3% a year in the 1960s, declined by more than 1%. There were other reasons for this deterioration in production per hour worked. Among them: the heavy burden of Government regulations, the entry of so many untrained first-time workers into the labor force, and the decline of research and development, in part because managers have concluded that inflation makes the payoff too distant, too uncertain. Turgid productivity, which aggravated inflation and contributed to the debauch of the dollar in world markets, is as serious as any problem that...
Given such a staggering array of imponderables, what policies should the U.S. follow in Iran, Saudi Arabia and the surrounding area? In an interview with TIME Editor in Chief Henry Grunwald, the director of London's International Institute for Strategic Studies (liss), Christoph Bertram, argues that once the American hostages have been released, the U.S. should ignore Iran, isolate it, and try to curtail its influence on the Gulf states. Many of America's allies agree. British diplomats, for instance, are convinced that the Iranian Ayatullah Khomeini's Islamic Republic in its present form will not outlive...