National Economy

"WE SHOULD NOT beg for help from foreign capitalists, but improve management and policy-making so as to serve the interests of the national economy and create conditions to compete with developed capitalist economies."A slogan from a Stalin-era Soviet Communist Party Congress approving another 5-Year Plan? An exhortation from some Little Red Book-waving fanatic during China's Cultural Revolution?No. It was said in early July by Nguyen Van Linh, head of the Vietnamese Communist Party from 1986 to 1991 and the "father" of the reforms that started Vietnam down the road to a market economy.

WASHINGTON -- During his 12 years as governor of Arkansas, Bill Clinton has improved the schools, kept taxes low, increased the number of jobs, improved civil rights for minorities and maintained one of the cleanest environments in the country.Or, he has presided over one of the worst-educated states in the country, raised taxes on everything from groceries to used cars, watched as wages declined, failed to gain a civil rights law for his state's citizens and allowed the poultry industry to stall state regulation of water pollution caused by chicken droppings.

For a view of the 1994 outlook in the nation and in Maryland, The Sun conducted a round-table discussion with three prominent experts on the state's economy.The participants are Mahlon Straszheim, chairman of the University of Maryland economics department and Gov. William Donald Schaefer's chief economic adviser; Mary J. Miller, a managing director of T. Rowe Price Associates and manager of $900 million invested in Maryland bonds; and Charles W. McMillion, founder and president of MBG Information Associates Washington.

WASHINGTON -- By levying special taxes, called "green fees," on fossil fuels, household wastes, and even urban traffic congestion, the United States could reap from $100 billion to $150 billion annually, alter the nation's tax structure and stimulate growth, says a report by an environmental think tank in Washington."

If any business proposition ever looked like a sure thing, betting on aging Americans, rising home values and the advantages of tax-exempt companies might have been it. For a quarter-century it paid off for John C. Erickson, who built the retirement-home chain bearing his name into a billion-dollar operation that spread from Massachusetts to Texas. Along the way he acquired a yacht and multimillion-dollar homes and started a charitable foundation that had $139 million in assets in 2007, the most recent year information is available.

A new economics documentary that explores rising gas, food and health care costs will be presented in theaters across the nation Thursday, including at the Bel Air Cinema 14 at 8 p.m. The live panel discussion will feature Warren Buffet, chief executive officer of Berkshire Hathaway; William Niskanen, chairman of the CATO Institute; Bill Novelli, CEO of AARP; and Dave Walker, president and CEO of the Peter G. Peterson Foundation and former U.S. comptroller...

BECAUSE income-tax payments are due today, many groups seeking reform of the federal tax code and the Internal Revenue Service stage events to promote their causes. They aren't finding much of an audience.The buoyant economy has taken much of the urgency out of the tax-cut issue. When people are making money, buying cars and homes and even saving a portion, they apparently don't mind when the government takes its cut.Other factors may be at work as well. With electronic filing, taxpayers are getting their refunds in record time, removing some of the animus.

As the rain keeps falling and the water keeps rising, it is becoming clear that the Great Flood of 1993 will have a considerably bigger effect on the nation's economy than seemed likely just a short time ago."Seems like we get bombarded with heavy rain and heavy rain; in between we get light rain," said Roy R. Arends, a farmer in Alexander, Iowa. "It's been hard to get the crops in, it's hard on equipment, it's hard on nerves. The financial impact is yet to be seen. But right now it really looks bleak."

BASEBALL players talk about being "in the zone," that state of mind when everything seems to go right: Pitchers throw nothing but strikes; batters go on phenomenal hitting streaks.The nation's economy is on such a tear. Every economic report brings more positive news.More people are working, their incomes are steady and best of all, prices -- with the exception of the stock market -- barely increase.Yet skeptics keep reminding us that these prosperous conditions can't continue indefinitely.

WITH THE continued strength of the U.S economy, the dollar recently hit a four-year high relative to other major world currencies, particularly the Japanese yen.Although most analysts view a strong U.S. dollar as a positive for the economy, it has a tremendous effect on imports and exports, the nation's trade deficit, foreign tourism and manufacturing and could influence the prices of a variety of goods -- including new foreign automobiles -- bought by...