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Since December, when the Dow-Jones industrial index hit an alltime high of 734.91, it has dropped with a speed that has left many a stomach queasy. Fortnight ago, the index fell even farther than it had in the week following Dwight Eisenhower's 1955 heart attack (see chart...

Author: /time Magazine | Title: State of Business: The Uncertain Prophet | 5/25/1962 | See Source »

Under attack, Toynbee merely revised some of his broader conclusions. Spengler was all but shot down in flames. The experts demonstrated that he knew almost nothing about Chinese culture, nothing at all about Mexican. His Time Chart, marking off the exact number of years spent by each culture in each Spenglerian phase of its doomed history, was riddled with errors of fact. His parallels between cultures were often forced. All this was true. If the West was declining, it was not doing so according to any rules or laws the book had demonstrated...

Author: /time Magazine | Title: Books: Gotterdammerung Revisited | 5/25/1962 | See Source »

...Spengler's master plan for comparing cultures had no provable validity, it did provide his readers with an exciting excursion through history. Even in this cut-down version (Editor Helmut Werner has scrapped the Time Chart and much of the Teutonic repetition), it remains a kind of cosmic Baedeker of art and idea, of anthropological and architectural insight, of historic and religious parallel...

Author: /time Magazine | Title: Books: Gotterdammerung Revisited | 5/25/1962 | See Source »

...many employed by industry, generally do not take as dim a view of the profits squeeze as do businessmen. To laments that it has even cut into dividends, the economists point out that, in fact, dividends have been rising at a faster rate in the past ten years (see chart) than either wages or industrial production...

Author: /time Magazine | Title: Business: How Bad a Squeeze? | 5/11/1962 | See Source »

...months from now, the recession-ridden federal budget is certain to wind up somewhere on the order of $7 billion in the red. And there is scant relief in sight. Though the President a few months ago talked hopefully of showing a surplus for fiscal 1963 (see chart), most economists last week agreed that a budget deficit of from $2 billion to $5 billion is likely next year...

Author: /time Magazine | Title: Public Policy: Which Budget to Balance? | 5/4/1962 | See Source »

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