Word: curbs
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Dates: during 1970-1979
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...Inflation will abate, but not soon enough or substantially enough to cheer about. Recessions are usually slow to take the steam out of prices, and a tight money policy requires months to produce results. In fact, high interest rates will continue to add to inflation until they start to curb overall demand, and then prices are expected to taper off. Despite rising unemployment, wages and benefits stand to accelerate. They increased about 8% this year, or much less than the rate of inflation, and workers can make a strong case for more, just to catch...
Although President Carter will face tremendous political pressure during election year to curb prices, board members felt that he would not try to impose mandatory wage and price controls, and that any attempt to do so would be disastrous. With the exception of Beryl Sprinkel, who figured that there is almost a 50% chance that the President will go for controls, most board members gave that prospect only a 20% to 40% chance. Carter first would need congressional authority and, as the debate raged on Capitol Hill, businessmen would rush to raise prices to get in under the wire. Further...
...most of all. They can afford the painful pinch of rocketing costs for energy and petroleum-based products such as fertilizers and other chemicals much less than affluent industrial nations can. Climbing oil costs consume precious foreign exchange, make it harder to buy farm equipment or factory machinery, and curb development spending on agriculture, industry, education and health...
...long Americans have blithely assumed that rivers of cheap energy would flow through that economy like a magic elixir in endless abundance. But as 1979 has vividly demonstrated, the nation takes extreme risks if it does not curb its addiction to demon crude...
Under the bubble plan, a company can cut a lot of pollution from sources that are easy and cheap to control, but let out more discharges from sources that are hard and costly to curb. Plants in the same neighborhood can form a bubble and make the accepted trades among themselves. However, a firm cannot trade off the emission of a relatively harmless pollutant for a carcinogenic or otherwise hazardous substance...