Word: sectored
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...sets: its history as a free society, the development of a strong middle class and the creation of a governmental system that was deliberately decentralized to minimize the danger from coups and tyrannical regimes so prevalent in The region. The unfortunate consequence is that much of the public sector is outside the budgetary control of the executive branch, and both the legislative assembly and the supreme court can make important economic decisions without the approval of the President...
...high interest rates and tumbling stock markets prices are the most obvious signs that something is awry. They cast a dark shadow on Reagan's rosy vision of the country's economic future, the one which investors would pour their dollars into a revitalized private sector and expand employment. Those investors are now shying from Reagan's bargain with them, betraying a lack of confidence in his maneuvers to fight inflations and restore a balanced budget. They have discovered what Reagan's opponents claimed long ago, that the arithmetic of supply-side economics just doesn...
...only would his across-the-board reductions in personal income taxes be popular among workers earning $20,000 annually, but the projected increase in industrial output resulting from savings increases, corporate tax breaks, and defense expenditures seem to promise higher employment in the capital-intensive, high-wage industrial sector...
...addition, University officials and some economists agree that large tax reductions designed to spark growth in the private sector will probably discourage private contributions to Harvard rather than aid fundraising, as the Reagan administration claims it will. By cutting maximum personal income tax rates from 70 per cent to 50 per cent, for example, the administration raises the net "cost" of donating money to Harvard. Under the old law, a person in the highest tax bracket keeps only 30 cents out of every dollar earned, so if he gives a dollar to Harvard--a non-taxable gift--it costs...
...head the corporation, but he decided to keep the agency alive. In Sawhill's place, Reagan appointed Edward Noble, an Oklahoma oilman who is skeptical about synfuels. Says Noble: "I have come to run a very hard-nosed, responsible operation that will require a lot from the private sector. I am not going to shoot the mule that has drawn the wagon, but I'm not going to spread a lot of hay in every direction...