Word: wayes
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Dates: during 1970-1979
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...Congress. The boy was fired with a determination to recover that glory, and he learned early that there was no more potent weapon than the human voice. "I always liked to talk," he admitted. "Dad spoke beautifully and clearly. A word like 'responsibility' trembled with meaning the way he pronounced it." Though Randolph's youthful ambition to become an actor was thwarted by his parents, he memorized several of Shakespeare's tragedies and loved to recite them with rolling cadences...
Underlying Taiwan's optimism about the future is the island's burgeoning economic strength. Last year the republic had a 12.8% real growth in gross national product, based largely on a foreign trade of $23.7 billion, greater than that of the mainland. Two-way trade with the U.S. amounted to $7.4 billion, making Taiwan America's eighth largest trading partner. Total foreign investment, mainly from the U.S. and Japan, is $2 billion. Though some of this dates back to the 1950s, about $500 million has been invested so far in 1979 alone. Some American companies, including Ford...
...surest way to ease the upward pressure on prices is an economic slowdown, and the TIME economists see signs of recession proliferating. In April, personal income rose by an anemic .3%, down from 1.2% in March. The real volume of retail sales has declined during most of the year so far, and car sales are falling. The index of leading indicators has dipped for three straight months. From March to April, industrial production dropped 1% and housing starts fell 2%. The nation's savings banks had a record net outflow of $1.1 billion last month. Since savings banks provide...
Most of the TIME economists are satisfied with the Federal Reserve Board's middle-of-the-way monetary policy. One exception is David Grove, who argues that a much tighter money policy and a deep recession are needed to wring inflation out of the system. As the recession deepens, Okun would prefer that the Fed ease off and promote some expansion of money supply, which has been fairly tight over the last six months. Warns Okun: "Keeping to that policy in a recession is like wearing an overcoat in summer...
...Andel is an ardent advocate of the free enterprise system and fully enjoys its rewards. He is chairman and co-owner of Amway (a contraction of American way) Corp., one of the nation's most successful private firms, which is engaged in what he calls "in-the-home selling." In this its 20th year, Amway expects to retail $750 million worth of cosmetics, vitamins, jewelry, home-care products and some 4,000 brand-name appliances and other items direct to customers through catalogues by a network of 300,000 door-to-door salespeople. Amway's achievements are evident...