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With rare unanimity, however, economists warn that the upturn, whenever it comes, will be painfully slow and gradual. Robert Ortner, chief economist of the U.S. Department of Commerce, ; observes that after past recessions the total output of goods and services on average has jumped 7% in the first year of recovery. "This time it will be less than that," he says. That is putting the case very mildly; many private economists guess that the upswing will be only half as vigorous as it traditionally is. Walter Heller, a member of TIME'S Board of Economists, has compiled a self...
...deposit found anywhere in the world since the discovery at Kimberley more than a century ago." The rich ore of the Jwaneng mine is expected to produce 3 million carats of precious stones in 1982, and eventually 4.5 million carats annually, nearly one-quarter of De Beers' total output...
...fantasy frontierland where law triumphs over disorder and cowpokes don't go in much for either gunplay or foreplay. If they are anything like their creator, how would they have the time? The author of 81 frontier novels (some 125 million copies in print) with a whip-cracking output of nearly three new books a year, L'Amour may have to take at least one day off in the coming year so that he can head back east to Washington to be honored along with Bandleader Fred Waring, 82, and the late champ Joe Louis. Government-issued gold...
...does not jeopardize Zimbabwe's stability. Last week the U.S. signed three agreements worth some $5.5 million in training and food, bringing total U.S. aid to Zimbabwe to $42.7 million in 1982. Even with such aid, a severe drought is expected to reduce the nation's agricultural output this year by 20%, and depressed prices for such exports as chrome, nickel and copper have led bankers to predict a sharp slowing of Zimbabwe's economic growth, to 3% or less in the coming year from a robust 8% just last year...
...back to power in 1980, we found the economy in very bad shape. We made investment decisions for future development, and I think they restored a sense of direction to the economy. The G.N.P. has gone up, per capita income has gone up, and we have increased irrigation, food output and petroleum production. But the more things go up, the more are wanted. You are simply not able to catch...