Word: production
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Dates: during 1970-1979
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...President Kennedy's chief economic adviser. "If they had done any less, the world markets would have responded terribly negatively. Yet the costs are high. The Federal Reserve is taking the agony route to lowering inflationary expectations: squeezing down total demand in the economy, thereby weakening both product and labor markets. Increasingly people are going to be squeezed out of [credit] markets at those astronomical interest rates." Heller does not, however, expect "a full-fledged credit crunch like we had in 1974." He also thinks that the U.S. can avoid a recession as deep as that year...
Serpentine. Tommy Thompson's new book about a daring criminal chameleon who stalks Asia in search of unsuspecting tourists, is the product of such a wedding. Thompson, best known for Blood and Money--a searching dissection of the bizarre sequence of Hill murders in Houston-does two things very well. He picks great subjects. You keep having to remind yourself that Serpentine is, after all, non-fiction. In fact, after reading a couple of Thompson's quasi-novels, one might accuse him of choosing topics that any garden-variety journalist could fish a bestseller out of. Grisly, morbid, sick, perverse...
...beautiful landscape, among flowers and calm rural prospects, the beekeeper and his bees struggles with one another in loveless arrangements. Every day the bees fly thousands of miles in his service, and each one makes a drop of honey. He is their master, the owner of their product from the moment it is created. But there is no stability in this arrangement, because it is unnatural. They may decide in an instant to swarm away, or kill him with their stings, or both...
TIME has rendered the cause of Philippine freedom a splendid service [Sept. 24]. It is now clear that Ferdinand Marcos' latest excuse-economic crisis-for continuing martial law is the product of his own government's corruption and mismanagement. Meanwhile, as with the Shah and Somoza, the U.S. will continue to support Marcos until the moderate opposition is incapable of administering a peaceful and orderly transition back to democracy. When will the U.S. learn...
...videotape recorder (VTR) is the television industry's first really new product for the home consumer since color sets. The compact device can record color or black-and-white television programs, play video cassettes, accept cassettes of prerecorded commercial shows and, with use of an optional camera, produce home movies, all playable on the user's own TV set. The VTR's primary function, taping TV shows off the air, has opened a new kind of Pandora's box. In 1976 two of the biggest movie production companies filed suit, charging Sony Corp., the first firm...