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...with inflation, we must get Government spending under control. The longer we wait, the worse the biting of the bullet will be." University of Chicago Economist Walter Fackler insisted that neither voluntary nor mandatory restraints on wages and prices will work. "It's all just a silly game, a ritual we go through periodically. We will have inflation as long as the Federal Reserve continues to pump more money into the system." Yet the President could hardly present a plan for directing the Federal Reserve Board's policies since it is, by law, an independent agency designed to be free...

Author: /time Magazine | Title: Nation: War on Inflation: Stage II | 11/6/1978 | See Source »

...current global diplomatic offensive, which the Kremlin regards as part of a Peking plan for world domination. In the past three months the decibel level of Moscow's attacks on China has risen to ear-splitting volume, all but drowning out the Soviet press's ritual critiques of Western warmongering and imperialism...

Author: /time Magazine | Title: COMMUNISTS: Attacking China | 10/30/1978 | See Source »

...South Pacific: it all seemed so long ago. Yet Wilkinson had no trouble joining in the team's revelry. He adroitly managed to get through the initiation ordeal known as the "Cardinal puff," in which the newcomer, well-stoked on beer, has to perform an elaborate ritual of hand movements...

Author: /time Magazine | Title: Sport: Testing the Velvet Hammer | 10/30/1978 | See Source »

...sleepy Hot Springs, Va., the sprawling Georgian-style Homestead was gripped with a particular excitement the weekend before last. The same little ritual takes place every fall and spring when the Business Council, composed of about 100 top corporate chieftains, gathers with the highest Government officers at the exclusive resort in what sometimes have been stormy conclaves. As General Motors Chairman Thomas Murphy puts it, the meetings are held "so we can hear Government's views, but more important, they can hear our views." Yet, as TIME Washington Correspondent George Taber observes from Hot Springs, there is also...

Author: /time Magazine | Title: Business: Fun and Expletives Repleted | 10/30/1978 | See Source »

...almost a decade, each fall has witnessed the curious ritual of the University administration's attempt to entice undergraduates to elect representatives to the Committee on Rights and Responsibilities (CRR), a student-faculty disciplinary committee formed in the wake of the 1969 student strike. And for almost as many years, undergraduates replied with a terse...

Author: By Francis J. Connolly, | Title: It Happens Every Autumn | 10/28/1978 | See Source »

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