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Members of TIME'S Board of Economists predict a record $110 billion increase in national output next year, but most of them believe that the nation's overall jobless rate will come down only to an average of 5%. Nixon Adviser Alan Greenspan adds that he expects the rate to range between 41% to 51% for several years. The Government's traditional "full employment" target is 4%; the irreducible jobless rate, composed of people moving between jobs and those only marginally employable, is a matter of guesswork. The mid-point of the experts' guesses...
...York pubic post, and condeming out of hand many genuinely inovative films. Then there was Renata Adler's stints "A Year in the Dark," as she put it--when the Times managed an abrupt turn-around and welcomed even the most nouveau of the New Wave output. For the last three years, we've been condemned to Vincent Canby--perhaps the least distinguished writer the Times has had in a major reviewing post, as much an industry gadfly as critic (perhaps accounted for by his training on Variety...
...damage that his economic performance once did to his standing with the voters. On Aug. 15, 1971, Nixon abruptly reversed the policies that he followed in his first 2½ years in the White House; as a result, he has slowed inflation and produced a remarkable spurt in national output. Gross national product in 1973 seems likely to show a rise topping even this year's biggest-ever gain (see box on next page). Democrats argue that this record looks impressive only by comparison with the inflationary recession of 1970. Perhaps, but it has been good enough to help...
...more fashionable worries in U.S. business is that a "productivity crisis," a slowdown in the growth of output per man-hour, is crippling American ability to compete against foreign industry. Some figures compiled by the Bureau of Labor Statistics, however, indicate that this fear is largely unfounded. In 1971, the BLS reports, unit labor costs-the figure that represents how much productivity gains have softened the impact of wage increases-rose only 2.7% in U.S. manufacturing. That was less than half the rate of the increase in Japan, Canada and some Western European industrial nations. Although the biggest reason...
...extended title indicates, Novelist Mullhouse lived a mere eleven years, and his output, aside from a few little stories, was a "novel" called Cartoons, inspired by innumerable comic books and animated movie features. Though mildly precocious, Edwin is in fact a rather ordinary little fellow. The one to watch is Jeffrey Cartwright, a rare demon in the Nabokovian mold. With his "extraordinary, truly inspired memory," Jeffrey recalls his first meeting with Edwin, which occurred when the former was six months old and the latter but a few days. From that moment, Jeffrey preys upon the unfortunate Edwin, and after...