Word: curbs
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...direction from Washington. It is tinkering with a proposal worked up late in the Carter Administration for the development of a three-way "compact" among industry, labor and Government to restore the health of the carmakers. In broad terms, the Reagan Administration aims to use a promise of a curb on Japanese imports as a carrot to get all of Detroit to accept the kind of changes in traditional ways of doing business that Chrysler and its union agreed to in return for loan guarantees. Explained William Brock, Reagan's Trade Representative, who met last week with...
...heard him will be able to claim that the country was not warned, that what he had in mind was nothing less than the most radical invocation to change in 50 years. He spoke to a single topic: his new Administration's program to curb the inflation and end the stagnation that have been crippling the U.S. economy. But in so doing he summoned his countrymen to take a historic turn: from more government to less. If he should succeed-and it is a very large if -the implications are immense...
...industrial West. Thus the current fears about the potential threat to Pakistan from Soviet legions on the other side of the Khyber Pass in Afghanistan may give way within a few years to even deeper dismay over Pakistan's seeming inability to heal its ethnic divisions, curb its birth rate and ultimately feed its people. The collapse of Pakistan from within-and Pakistan is just one example-could have serious repercussions throughout its region: renewed warfare with India over Kashmir, say, or the spread of tribal warfare into Iran...
...Washington are part of the problem. In the first half of the '60s, U.S. inflation frolicked between 1% and 2%. Then Lyndon Johnson spent billions for war in Southeast Asia and his Great Society programs. This bequeathed to Richard Nixon a 5% inflation rate, which he tried to curb by tightening credit, raising taxes and instituting wage and price controls. When the controls came off, money under pressure shot into the marketplace, and now double-digit inflation is commonplace...
...worried. If Saudi Arabia, which accounts for nearly one-third of OPEC's output, drastically cuts the flow, there will be economic depression in the West. On the brighter side: Saudi Arabian moderation may prevail in the Middle East; conservation and higher production in the West may curb the growth of petrodollars, increase confidence in currency and spur a greater sense of community. The bottom line of Paper Money is that, depending on those pesky exogenous variables, things could go either way. But before there is a run on the bank, there should be a jog to the bookstore...