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(R) TO sount a leads to scandal, murder and suicide 208 EYE ON HOLLYWOOD: 12:08 @ MOVIE #%% “Where The Spies baseball player being ‘Alligon plots revenge at « the mob contest. ‘2 governess: Featured: Super Dave 9 AFTERNOON cre ENTERT/ Deputy Chiet Mahoney is distressed to lear thi 8 CHOICE WED) ARRON ‘ARS NOVA (MON) ROGERS OF) LJ CHOICE The heir to the throne of ##® “The Journey’ HOUR MAGAZINE Jororo is the target of ter (1989, Suspense) Yu! ROCKFORD roriets, ah Kerr People trom CANADA'S LARGEST REAL ESTATE NETWORK discusses black holes in space LORNE GREENE'S WILDERNESS ‘An exploration of the mys terious waters of the Fiori ®) PRESIDENTIAL 8:00 @ MOVIE ‘tk "An Eyed For An Eye’ (1966, Drama) Robert ansing, a bounty hunt: on those respon: sible for the death of his night manager, @ middie aged man's Wiestyle and values are tumed upside then fight his way through the Thee (1979, Drama) Peter 8. 2. Sellers, Meivyn A simple-minded, middle. n. desert 2:00 @ CBS NEWS MIGHTWATCH 2:20 @ INCREDIBLE HULK tingly seedy hotel during the late 19208. @ Qualaao ancnic Jack t he lets it convincing tycoons ‘and politicians that he ts @ PEERLESS DENTAL LAB aited be: Di. bevid Cowen’ New Dentures and Relines by appointment Repairs while you wait Canadian Dental Insurance Claim processed eviction when slip to Furley that MOUNTAINVIEW AGENCIES LTD. 676. Voth $0. Contleger 966-2111 CANADA'S LARGEST many economists in the western world. not one of your scholastic, dry-as-dust disputes, however. The outcome could have far-reaching effects on Essentially, it boils down to how the economies of the western world and most of the so-called emerging countries are going to develop. Sound complicated? It isn't really, beeause it can be boiled down to a few essentials. The most important is trying to set up an economy that can provide and sustain Let's look at the basic positions. One says that changes in economic conditions are cyclical — that is, every few years there are. going to be ups and downs. Each swing creates problems. Downturns, for example, result in more unemploy ment. Upswings produce rising costs. Over the long term, however, these cancel each other out so — all else being equal — a country should be assured of economic growth, which translates into rising living standards for its people. That is especially true for a country such as Canada, blessed with abundant natural riches and a solid indus trial base. CONDITIONS CHANGE The other side, while accepting the idea of cyclical shifts, argues that every once in a while — say, 50 or 100 years — changes in international economic conditions occur that are so fundamental they require a brand-new approach to problems such as unemployment and inflation. The idea that government could have a hand in smoothing the cyclical ups and downs evolved mostly from the theories of British economist John Maynard Keynes during the Depression of the 1930s. Ina nutshell, he said governments should put money into the hands of the people during bad times through spending programs and tax cuts so they could afford to t Critics say this theory no longer works, and they point to the recent recession throughout most of the industrialized world as proof. f While many governments were deficits by their increased spending, the critics argue, unemployment and inflation both skyrocketed. So some- thing new was KEEP SHELVES FULL They presented the so-called supply side economic theory as an alternative. In essence, this says if you ensure a plentiful supply of goods and services that people want, prices will be kept under control and jobs will be created to keep those supplies rolling. Who's right? Unfortunately, it’s likely to take another decade or so before enough data are available to decide. Supporters of Keynes says his theories have been. ignored by governments in recent years, and that led to the recession. Instead of cutting spending and raising taxes during the good years of the 1970s, countries such as Canada continued massive government spending pro- grams and that distorted economic realities. Phooey, say detractors. The simple fact is most of the western industrialized world still is in deep economic trouble and something new is needed. Without fresh ideas, they say, how will Canada compete with cheap natural resources flowing in growing quantity from emerging nations? How will the United States meet the challenge of manufactured goods from countries such as South Korea, Taiwan and Brazil? It might be fun to watch academics fighting about theory. It’s no fun, however, if the apparent winners persuade governments to adopt long-term policies affecting your life — and those policies turn out to be wrong. eg Oey Ge as t " Vestgron mii losses down’ Vestgron Mines Ltd. has ‘announced a loss in the first quarter of 1984 of $500,000 or $0.11 per share. In the comparable period of 1988, the Corporation lost $1.7 million or $0.39 per share. Sales in the first quarter of 1984 amounted to $1.9 million compared to $2.2 million in the comparable period. This reduction was the re- wholly owned Danish subsi- diary, Greenex A/S (*Green- ex”), was 175,900 (178,200) metric tonnes producing 29,600 (31,900) dry metric tonnes of zinc concentrate and 7,600 (8,300) dry metric sult of reduced volumes of ‘tonnes of lead concentrate. Mining lands change hands The Kettle River Re- ect. Noranda has been given sources Ltd. mining company _ the option of earning a 51 per has begun its 1984 explor- cent interest by spending ation program for the Green- $300,000 on exploration over wood area, says vice-presi- three years. dent Brian Fagan. © A 51 per cent interest is The following changes in held by Kettle River in the land ownership have taken five square km Bluebell ce: Project, with Bulkley Silver e Kettle River has now Resources Inc. holding a 49 earned a 49 per cent par- per cent participating inter- ticipating interest in the est. A continuation of the Phoenix Project (17.5 square 1983 program, which identi- km). Noranda Exploration fied several mineral zones, is Company Limited holds the Planned for this year. remaining 51 per cent inter- est. REAL ESTATE NETWORK | High tech not only way HALIFAX (CP) — It’s not terribly glamorous being hewers of wood and shapers of steel when there's a get-with-it world of technology and high-growth industry out there. A Pp certain phar- maceuticals — these are among the commodities whose prospects for growth are deemed great and whose band- wagon the industrialized societies are urged to join. The strategy is known as targeting high-growth industry, or picking winners. Government selects industries with a promising future and plows public resources into their development. As a consequence, less money is spent on mature, ailing industries — the supposedly obsolete engines of growth. Economist Roy George, in a publication by the Institute for Research on Public Policy titled Targeting High-Growth Industry, urges Canada to look before it leaps into that way of thinking. George, a professor at Dalhousie University in Halifax, says the strategy has won uncritical public acceptance in Canada, partly because it rankles us to be thought of as woodcutters, miners and plodding manufacturers of such basic products as refined petroleum and cars. But he also blames the Science Council of Canada, whose advocacy he considers almost jingoistic. SEES RHETORIC By examining what governments say and what they do in the major industrial nations, George finds first that there is a lot more talk than action when it comes to backing high-growth industry. Second, he finds no proof that picking winners works as an overall strategy. One of the strategy’s most enthusiastic practitioners, Japan, has had outstanding industrial growth, he notes. But West Germany, a strong opponent, has done just as well. France, another big backer of the strategy, has performed about the same as Sweden, which, despite its socialist tradition, intervenes in the economy mainly to save declining industries. George says the reasons for Japan’s success are debatable. Although government-backed research spurred development of the most advanced memory chips in the world, it has had its share of failures in so-called high-growth industries. Some people argue that the country's strong performance comes from the diligence of its workers, the sheer energy and skill of its managers and despite “demo- ic bungling.” TERM UPTO... Credit Union . DEPOSITS Kootenay Canada's record contains a number of horror stories of governments supporting firms “at least in part because a good future was forecast for them.” Nuclear energy and aircraft manufacturing are among them. Still, it sounds nice. Everyone loves a winner and it’s easy to say an industry with the potential to shoot up the charts should be given the needed boost. In fact, George says, all provinces express an eagerness to back winners, perhaps “because it appears a smart, progressive thing to do. But in his analysis — despite Canada’s pride in seeing the space shuttle’s Canadarm waving lazily from space — government will move faster to rescue an established industry than nurture a new breed. Although Quebec ehases hard after “winning” pharma- ceutical companies and Ontario's BILD program is geared to firms with promise, special attention is more likely to be given to textiles in Quebec, cars in Ontario and fish and steel rails in Nova Scotia. ° Regional disparity, jobs and spinoffs are higher in the minds of governments when deciding how to spend money for industrial development, George concludes. Had NOva Scotia adopted the strategy, it would not have bent over backwards to attract Michelin Tires Canada Ltd., whose products are not considered high growth. George says Michelin, with three plants employing several thousand in small communities, has had a bigger impact on Nova Scotia than any other firm which has set up shop in the province since the Second World War. He says governments, no matter how intelligent their bureaucrats, are not equipped to analyse the range of industries and come up with a reliable list of winners. $200,000 law suit TORONTO (CP) — An international entrepreneur who helped bring about the downfall of former prime minister Joe Clark is being sued by a major Toronto investment company over a $200,000 stock deal. ACROSS FROM WANETA PLAZA “WE CARE" e Kettle River now holds a 100 per cent interest in the 32 square km Greenwood proj- Rog. $11.99. Incl. 2.yr. Fertilizer Tabs ..:, em OPEN 7 DAYS A WEEK! CASTLEGAR 365-2262 Pp. We Chi “Driveal HOMEGOODS FURNIT.2¢ ~ 008 ' IOUSE . se. - Sat., 9:30 - 5:30 Wai iT BN "yar phir ‘ee ina Creek ittle to Save a Lot” OFFI LUELLA 218-1 1th Ave Ph. 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