United States or Poland ? Vote for the TOP Country of the Week !
Designed to check inflation in earlier years, it now checks growth instead. It discourages extra effort and risk. It distorts the use of resources. It invites recurrent recessions, depresses our Federal revenues, and causes chronic budget deficits.
They include high-pressure salesmanship which creates cycles of overproduction within given industries and consequent recessions in production until such time as the surplus is consumed; the use of patent laws to enable larger corporations to maintain high prices and withhold from the public the advantages of the progress of science; unfair competition which drives the smaller producer out of business locally, regionally or even on a national scale; intimidation of local or state government to prevent the enactment of laws for the protection of labor by threatening to move elsewhere; the shifting of actual production from one locality or region to another in pursuit of the cheapest wage scale.
The spontaneous, disorderly spreadings and recessions of populations, as aimless and mechanical as the trickling of spilt water, which was the substance of history for endless years, giving rise here to congestions, here to chronic devastating wars, and everywhere to a discomfort and disorderliness that was at its best only picturesque, is at an end.
There were patios and pergolas in proportion, and all the walls, with their many right-angled juts and recessions, arose out of a bed of greenery and bloom.
To understand the state of the Union, we must look not only at where we are and where we're going but where we've been. The situation at this time last year was truly ominous. The last decade has seen a series of recessions. There was a recession in 1970, in 1974, and again in the spring of 1980. Each time, unemployment increased and inflation soon turned up again.
The too eager and enthusiastic are exposed, like all the overemotional, to great recessions, great ebbs, in the volume of their feeling and feel for a time the direst pain in all experience, the death in life of anhedonia.
It exists, as all drawing does, by light and shade, but the shadows are not produced by the mere darkening of the surface they are produced by projections and recessions, by the inclination of the planes away from or toward the light.
We coined the word "stagflation" to describe this. Government's response to these recessions was to pump up the money supply and increase spending. In the last 6 months of 1980, as an example, the money supply increased at the fastest rate in postwar history 13 percent. Inflation remained in double digits, and government spending increased at an annual rate of 17 percent.
Third, the 8 percent tax credit for investment in machinery and equipment, which, combined with planned revisions of depreciation allowances, will spur our modernization, our growth, and our ability to compete abroad. Moreover pleasant as it may be to bask in the warmth of recovery let us not forget that we have suffered three recessions in the last 7 years.
At the same time, a kind of sumptuous luxuriance, a predilection for greens and oranges in brilliant juxtaposition, a delight in natural profusion and the use of recessions, shading and round volumes give each picture a distinctive aura. In Malwa, on the other hand, the earlier tradition seems to have undergone a new resuscitation.
Word Of The Day