Word: consumerization
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A year ago, when Stalin purged Economics Planner Nikolai Voznesensky from the Politburo, a top U.S. diplomat in Moscow said: "Voznesensky made one big mistake. He tried too hard to please Stalin by turning out capital goods [to rebuild Russia] instead of consumer goods. He thought the Russian people could...
This was the point that Voznesensky missed. In the year since he was kicked out, the Kremlin has tried to divert its economic effort a little from steel smelters to pants. Consumer prices have been cut sharply, indicating that more goods were at hand (TIME, March 13). Last week came...
All this has been done at a price. While Chile has denied herself consumer imports in favor of dynamos and blast furnaces, prices and wages have spiraled higher than a condor. Now, with living costs ten times as high as in 1930 and climbing higher it seems necessary to slow...
But when the troopships came back, and the Nineteenth Amendment was ratified, something happened to Radcliffe political feeling. Eight of the nine divisions of the Civics Club promptly folded (the debaters remained) and only one new group was added--The Consumer's League. The Consumer's League lasted scarcely a...
In its April letter, Manhattan's National City Bank cheerily observed: "Any inference that overall consumer buying is lagging, or purchasing power diminishing, would be incorrect." In fact, the bank thought the outlook for the coming months was "very satisfactory."