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...repay its foreign debt. With prices moving more slowly, Prime Minister Moro's government has recently enacted a $6 billion recovery program, and there is a good chance that the Italian economy will begin to climb slowly in mid-1976. The pace of any economic risorgimento will depend on two things: whether the often inefficient bureaucracy can get the expansionary program moving quickly enough, and the level of wage increases that will emerge from the current round of national labor-union contract negotiations for 4.5 million workers...

Author: /time Magazine | Title: Business: Seeking an End to the Global Slump | 11/17/1975 | See Source »

Wilson's success in the forging of his new "social contract" between Labour and the nation--Britain's last credible chance to stave off economic anarchy, as even the Tories concede--will depend on factors more fundamental than the revelations of the Crossman diaries. But clearly the embarassments they contain could not have come at a worse time for Wilson, when he needs all the support of Labour's Old Left (Foot and others of the New Statesman set) to control the New. But Wilson gravely miscalculated his legal position when he tried to suppress the diaries by direct government...

Author: By Paul K. Rowe, | Title: Bagehot Updated: II | 11/6/1975 | See Source »

...price effects of the long-term agreement will depend on how much the Soviets actually buy, the size of U.S. crops and the amount of grain exported to other countries. Knowledge that the Soviets will be in the market could keep prices a bit higher than they otherwise would be; on the other hand, spreading out Soviet purchases should avoid the sharp price jumps that occur when they are bunched into short periods...

Author: /time Magazine | Title: TRADE: Making the Soviets Steady Customers | 11/3/1975 | See Source »

...counterattack began in 1968, when many important Wall Street brokers began worrying about the effects of the Vietnam War on the nation's economy. Sale makes the generalization that cowboys are more concerned about inflation, which threatens to reduce the level of government funding, than yankees, whose manufactured products depend on the purchasing power of the general public, making them more fearful of a recession...

Author: By Seth Kaplan, | Title: Changing of the Juntas | 10/28/1975 | See Source »

...dictatorships abroad provided they are pro-American," he told a gathering in London. He also called détente a "highfalutin word. They ought to say 'get-together.' While we have so-called détente with the Soviet Union, we should recognize that we cannot necessarily depend on what they say. I think they have out-détented us." A British listener commented that Wallace "seemed to be trying to position himself where Scoop Jackson is, but he hasn't learned the names of the horses yet." In Brussels, Wallace discussed military issues with...

Author: /time Magazine | Title: DEMOCRATS: Turning On the Charm in Europe | 10/27/1975 | See Source »

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