Word: majoring
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Dates: during 1980-1980
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...squeeze on credit was a major burden on business all year long. Companies began avoiding new debt financing through the long-term bond market because high rates made that too expensive. Instead, they turned to banks for short-term loans that would not lock them into high rates for ten years or more. Industries that depend heavily on credit, particularly home building and auto sales, have been staggering. Lone Star Industries, the country's largest cement producer, last week took out full-page newspaper ads featuring a large skull and crossbones and the warning POISON...
Frequently mentioned as a possible member of Republican Administrations, Feldstein is an advocate of less Government regulation of the private sector of the economy . A major focus of his research has been on the American Social Security system. He contends that the Government's retirement program has transferred vital investment capital into current consumption and thus hindered the long-term development of the economy...
...Some production has resumed in Iran and Iraq, and the Saudis are continuing to pump about 2 million bbl. a day extra to make up for the shortfall caused by the Iranian revolution and by the destruction resulting from the Persian Gulf war. This has permitted oil companies and major petroleum-importing countries to maintain large reserves as a cushion against future price increases or production shortfalls. World reserves are about 300 million bbl. above normal for this period, and both the U.S. and Japan have decided to increase their stockpiles. Without that small world glut, OPEC would probably...
DIED. Elston Howard, 51, versatile slugger who was one of the pioneering blacks in baseball's major leagues; of cardiac arrest; in New York City. In 1955, eight years after Jackie Robinson breached the game's color barrier by joining the Brooklyn Dodgers, Howard became the first black to play with the New York Yankees. After 13 seasons with the Yanks and one with the Boston Red Sox, he returned to Yankee Stadium as the American League's first black coach...
...gain some sense, courses in "kid lit" are becoming part of the curriculum at most major universities. The adult who was once the main focus of medical and psychological scrutiny now has a competitor. Today, says Historian Philip Aries, "our world is obsessed by the physical, moral and sexual problems of childhood...