THE ADMINISTRATION: A Master Tacker Departs

"With the changing political winds, one who sets sail directly toward his distant goal would never get there. The skill lies in tacking."

George Shultz is a golfer, not a sailor, but he likes to describe his practice as an economic manager in nautical terms. A confirmed free-marketeer in an Administration whose economic policies blow hither and yon, Shultz learned to become a master tacker, but he never really learned to like it. Last week, after 22 tiring months as Treasury Secretary and more than five years in top economic posts, Shultz announced...

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