Word: standard
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Dates: during 1970-1979
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Reminded of this incident, Bok noted last night that one Harvard president had fathered an illegitimate child and added, "The standard of morality of Harvard presidents has gone up, although it ill becomes...
Sunday at 2 a.m., clocks will be set back one hour as the East Coast switches to Standard Daylight Time...
...Nukes are a symbol of economic exploitation," Boudreau says. She adds that by opposing the companies that support nukes "we're striking right at the heart of the American economic system." Harvard's Top Ten Nuclear Related Investments Exxon Corporation $35,442,448 Standard Oil Co. of California $20,912,364 Mobil Corporation $18,360,622 Atlantic Richfield $17,465,122 Gulf Oil $15,969,160 General Electric Company $15,673,735 Getty Oil $11,765,924 Raytheon $9,585,634 Phillips Petroleum $8,996,703 Florida Power and Light $7,169,390 According to '78-'79 Financial Report
...from an International Monetary Fund conference in Belgrade, where those same financiers had most likely given him a pep talk for such a program. Stock market investors ran scared, seeing only the deepening recession Volcker's plan would induce. Liberal politicians didn't like this talk of lowering the standard of living for the sake of such unromantic concepts as "managing the money aggregates." Bankers, who had always looked to the Fed as a bellwether for interest rates, were now free to set their own rates, and became insecure, as well as a bit surly...
...standard of living, however, can crumble in different ways. Volcker's chosen poison is to take up inflation's slack by letting prices and business production outstrip the consumer's buying power. As Andrew Tobias has pointed out, though, the U.S. pays $65 billion annually to foreign oil producers, and that by far should be the chief target of any anti-inflationary program. Let the "living standard" that has Americans riding mammoth cars and wasting electricity fall, not the standard that keeps food on their tables and money in their savings accounts...