Word: long
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Dates: during 1960-1969
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...prices, which often continue rising long after general business turns soft, have continued to climb. They are rising faster than wages?and wages are rising faster than workers' productivity. When productivity slackens, real labor costs go up, and companies often make up the difference by increasing the prices of their products. The cost of living rose 5.9% this year and has gone up by 20% since 1964. The dollar of that year is worth only 84¢ today...
...uncertainty in the minds of businessmen, labor and consumers about the prospect for continued prosperity. Many experts find the present outlook no cause for alarm. Arthur Okun, the former head of the Council of Economic Advisers, calls the chance of either a recession or a continued boom "a long shot." By his handicapping, the Government stands a 50% chance of bringing the inflation rate down to about 4% without causing a politically unacceptable rise in unemployment. Still, Okun insists?as do the other members of TIME's Board of Economists?that it is high time the Federal Reserve eased...
...some retail merchants figure that they will have to hustle to maintain their sales volume. "The consumer is beginning to stiffen up," says Ralph Lazarus, chairman of front-ranking Federated Department Stores. "We expect that after Christmas he will become a tough buyer, more value-conscious than in a long time...
...Friedman's followers do take too literally the ideas that Friedman states in extreme form partly for shock value. "That is an effective device to get people's attention," Friedman admits. It also adds zest to economic dialogue. Samuelson says: "To keep the fish that they carried on long journeys lively and fresh, sea captains used to introduce an eel into the barrel. In the economic profession, Milton Friedman is that...
Still, as a footnote to American history, They Shoot Horses, Don't They? is invaluable. The entire cast-particularly Young and Fonda-understands the era when existence seemed one long bread line. The penciled eyebrows, marcelled coiffures and bright, hopeful faces change by degrees into ghastly masks; the bodies seem to pull against a gravity that wants them six feet underground. The music goes round and round, and so do the actors, in a coruscating dance of death. It is a pity that the picture is not left to them. The film makers should have known better than...