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...lower class differs from what he calls "normal classes"--that is, the upper, middle and working classes--because its members value self-gratification above future orientation and upward mobility. Banfield believes that as long as this group continues to predominate in the cities, they will always be unheavenly...

Author: By James Cramer, | Title: Banfield Redux | 9/15/1975 | See Source »

...months the Administration, which strongly advocated phased decontrol, had played down the possible impact of rising petroleum prices. But then came the resurgence of inflation in July, sending consumer prices soaring upward at an annual rate of 15.4%. That deeply impressed some of Ford's White House advisers, who were fully aware that rising petroleum costs were a prime cause of the price surge. The advisers also became increasingly worried that the looming shortages of natural gas, which supplies a third of the nation's energy needs, might trigger a stampede of industries to switch to oil, adding...

Author: /time Magazine | Title: ENERGY: A Balk on Decontrol | 9/8/1975 | See Source »

...dazzling advertising barrage after another, Revson kept Revlon moving upward. His 1952 campaign for "Fire and Ice," a new cosmetics line that was promoted through lush magazine ads featuring Model Dorian Leigh and then-daring teasers in the copy ("Do you close your eyes when you're kissed?"), was brilliantly successful. So, too, was his decision in 1955 to go into television in a big way by sponsoring The $64,000 Question. That helped boost sales by 54% and earnings by almost 200% in a year. Revson's promotional trademark was his practice of pairing his products with...

Author: /time Magazine | Title: ENTREPRENEURS: Merchant of Glamour | 9/8/1975 | See Source »

Borrowing a leaf from the evolutionary theme of French Jesuit Pierre Teilhard de Chardin, the theologians interpret human history as an upward curve, with God acting with man in a cooperative process of liberating humanity and the world. Sin is anything that resists or undercuts this process, or any oppression of one person-or group-by another. Salvation lies in a commitment to love of neighbor and thus a willingness to fight oppression, with revolution if need be. Camilo Torres, the Colombian guerrilla priest who was shot down by government troops in 1966, is the folk hero of liberation theology...

Author: /time Magazine | Title: Religion: Jesus the Liberator? | 9/1/1975 | See Source »

...abated and the recovery was well under way, the stock market has tumbled recently. Last week the Dow Jones industrial average closed at 805, down 21 points for the week. Bond prices also dipped on news of the July rise in living costs, and interest rates continued to creep upward-a sign that lenders, too, expect inflation to remain rampant and are determined to extract a higher price for their money...

Author: /time Magazine | Title: INFLATION: A Turn for the Worse | 9/1/1975 | See Source »

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