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...maintain sales. Unfortunately, they also could do just the opposite: they could take Ford's program as vindication of their past price increases and raise prices higher yet. Some Arab governments are willing to cut production in order to maintain prices; Kuwait last week reportedly decided to reduce output...
...more or less voluntary basis. But last year no fewer than 3 million people were moved-some willingly, some by coercion-from their own admittedly inefficient individual plots to communal villages. The result is that farm production has fallen at a time when Tanzania desperately needs increased agricultural output...
...said, in June 1974, "In the remainder of the year output will be rising more rapidly, prices will be rising much less rapidly and the unemployment rate, while it will probably rise further, will not reach a very high level before it recedes...
...Action Was Required In part, at least, events forced leadership upon him. The depressing eco nomic statistics continue to accumulate. According to the Department of Commerce, the nation's output of goods and services declined by an estimated 7½% in the last quarter of 1974, the biggest annual drop since World War II. The battered auto industry disclosed that new car sales in December skidded 26% below a year ago; for 1974, they were down a punishing 23%. Unemployment has reached 7.1% and threatens to exceed 8% before the recession bottoms out ? the highest jobless rate since 1961. This...
...incentive to move." But U.S. Steel Vice President William Haskell said that it amounted to paying "tribute" to the Government, and the company shut down the mill "as a matter of principle." As a result, U.S. Steel has at least temporarily lost about 10% of its total output in Gary...