Word: drucker
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Dates: during 1980-1989
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Local Gore campaign director Burton Drucker had said Gore could win support among conservative Democrats if the campaign had allocated resources to Arizona...
Despite the heartening Parkinson's results reported in Rochester, doctors at the symposium were cautious. "In my mind, there is no question that the patients get better," said Dr. Rene Drucker-Colin, a leader of the transplant team at Universidad Nacional Autonoma de Mexico, in Mexico City. "The real question is: For how long will they get better? Obviously, if the answer is six months, it would be less important to do this operation." Admitted Dr. George Allen, chairman of the department of neurosurgery at Vanderbilt, where twelve more operations are planned later this year: "This is still very much...
Instead, the U.S. has shed blue-collar jobs -- 5 million since 1975 -- as it experienced an accelerated substitution of knowledge and capital for manual labor. Without such a substitution, Drucker argues, no modern nation can hope to remain competitive. Says he: "The attempt to preserve . . . blue-collar jobs is actually a prescription for unemployment...
...most disturbing development that Drucker describes is the burgeoning "symbol" economy. By that he means the intangible realm composed of capital movements, foreign-exchange transactions and credit flows, which have ballooned enormously since the leading Western industrial nations decided to abandon the system of fixed exchange rates in 1971. Drucker warns that Washington's use of high interest rates to finance its budget deficit through foreign borrowing has caused a dangerous "politicization" of the symbol economy, a trend that he sees other countries starting to imitate in, for example, their selective manipulation of currency exchange rates...
What are the implications of those changes for government and business? Drucker warns that all companies engaged in trade must find better ways to hedge themselves against sudden swings in exchange rates and other pitfalls of the international economy. In the same vein, he advises countries that they must give top priority to their international competitive position, rather than to domestic economic considerations. Moreover, he says, governments should avoid trying to tinker with the workings of free markets like the currency exchanges. Drucker's musings may be well founded. But they are also, unfortunately, the kind of economic advice that...