Word: unsounded
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Paralleling the U.N.'s efforts, multilateral financial institutions have a crucial role to play. The World Bank, which lends money for Third World development projects, was long criticized by environmental groups for backing large, ecologically unsound programs -- a cattle-raising scheme in Botswana that led to overgrazing, for example. During the past few years, however, the World Bank has been seeking to factor environmental concerns into its programs. One product of this new approach is an environmental action plan for Madagascar. The 20-year plan, which will be drawn up jointly with the World Wide Fund for Nature, aims...
...Eccles, a Republican banker from Utah who became head of the Federal Reserve Board in the 1930s, explained, "While the national income rose to high levels, it was so distributed that the incomes of the majority were entirely inadequate, and business activity was sustained only by a rapid and unsound increase in the private debt structure." Today there are disturbing parallels. Some 55% of American households owe more than they own in financial assets. And in 1985 household debt relative to disposable income reached a postwar high of 88%. Nor is economic inequality necessary for an efficient economic marketplace...
...Harvard baseball team traveled to Kendall Square yesterday and found the MIT squad to be structurally unsound. In an insignificant Greater Boston League game, the batsmen discredited the Engineers...
...months. Haig had staged his own walkout from the Administration in 1982. As a quit-and-tell memoirist two years later, he bitterly denounced the zero option as a killer proposal, designed to be rejected. Now, as a Republican presidential candidate, he is criticizing the INF treaty as strategically unsound. All three Richards have also moved on. Allen has been succeeded by five National Security Advisers. Perle is presiding over seminars at the American Enterprise Institute and working on a novel about bureaucratic infighting over national-security policy. Burt, who will probably resemble a less than heroic character in Perle...
Politicians, of course, are not America's only leadership class and not the only ones to have failed in their responsibility. Leaders of business, finance, academe and the news media knew intellectually that the Reagan Administration had replaced the Democrats' tax-and-spend with the hugely popular but unsound practice of spend-and-borrow, and that the nation's prosperity in the '80s was being stolen from its children and grandchildren...