Word: tradings
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Dates: during 1980-1989
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UNFORTUNATELY, the heavy-smoking countries of East Asia, as well as many Latin American and African nations, have no such restrictions. Until recently, however, the East Asian nations had trade barriers against American tobacco companies to protect their domestic tobacco companies. After considerable pressure from the office of the U.S. Trade Representative, RJR-Nabisco and Philip Morris--both heavy Harvard investments--were allowed to flood those markets with their products. The companies have virtually monopolized the markets of Latin America and Africa for years...
...most dangerous economic illusions of the Reagan years are that we have somehow abolished the business cycle and the Phillips curve. The first is that occasional economic slowdowns are unavoidable; the second is the principle that there is a trade-off between policies to prevent recession and policies to prevent inflation. Antirecession medicines are pleasant, even addictive, while anti-inflation medicines are not, and Presidents always prefer the former. The moral challenge for our society is not to squander the Fed's tremendously costly victory over the inflation of the early 1980s. Any program of reviving investment and savings depends...
...Messner resigned last week, the first time an entire Cabinet has stepped down since Communist rule began in 1945. A new government, possibly including lay Catholics and moderate opposition figures, is expected to be installed this week. One of its first jobs: conducting negotiations next month with the Solidarity trade union, outlawed since 1981, and its leader Lech Walesa. In his first interview since agreeing to the talks, Walesa met with TIME Eastern Europe bureau chief Kenneth W. Banta and reporter Gertraud Lessing in a Gdansk church. Excerpts...
...willing to forgo the legalization of Solidarity to reach a broader agreement -- say, genuine pluralism within the existing official trade unions...
...Solidarity must exist. And Solidarity must be legalized. However, it should not be the same Solidarity as in 1980. This time we must be cleverer, better, stronger to succeed. We want the existing official unions, about which we now have reservations, to remain trade unions. But these trade unions must be pluralistic...