Normal Rate Of Return

фин. нормальная доходность* (норма прибыли, достаточная для того, чтобы инвестор продолжал вкладывать средства в данную отрасль или вид деятельности; обычно приближается к средней для всей экономики)

фин. нормальная доходность* (норма прибыли, достаточная для того, чтобы инвестор продолжал вкладывать средства в данную отрасль или вид деятельности; обычно приближается к средней для всей экономики)

rate [reɪt]

1 noun

(a) (ratio, level) taux m;

∎ the birth/death/divorce/suicide rate le taux de natalité/de mortalité/de divorce/de suicide;

∎ the success rate is falling le taux de réussite est en baisse;

∎ how do you explain the high suicide rate? comment expliquez-vous le nombre élevé de suicides?;

∎ the hourly rate is going to be increased le taux horaire va être augmenté

(b) (cost, charge) tarif m;

∎ his rates have gone up ses prix ont augmenté;

∎ to strike for higher rates of pay faire la grève pour obtenir une augmentation de salaire;

∎ the rate is 60p in the pound le taux est de 60 pence par livre;

∎ postal or postage rate tarifs mpl postaux;

∎ standard/reduced rate tarif m normal/réduit;

∎ the going rate le tarif courant

(c) (speed) vitesse f, train m;

∎ at the rate we're going or at this rate we'll never get there au rythme où nous allons, nous n'y arriverons jamais;

∎ she shot past at a terrific rate elle est passée comme une flèche;

∎ familiar at a rate of knots à toute allure

(d) (idiom) familiar

∎ any rate enfin bref

2 transitive verb

(a) (reckon, consider) considérer;

∎ she's rated as one of the best players in the world elle est classée parmi les meilleures joueuses du monde;

∎ I rate him among my closest friends je le compte au nombre de ou le considère comme un de mes amis les plus proches;

∎ to rate sb/sth highly avoir une haute opinion de qn/qch, faire grand cas de qn/qch

(b) (deserve) mériter;

∎ her film rates better reviews son film mérite de meilleures critiques;

∎ a battle that didn't rate a mention in the history books une bataille qui n'a pas mérité d'apparaître dans les livres d'histoire;

∎ that performance should rate him third place cette prestation devrait lui assurer la troisième place

(c) familiar (have high opinion of)

∎ I don't rate him as an actor à mon avis, ce n'est pas un bon acteur^□ ;

∎ I don't rate their chances much je ne pense pas qu'ils aient beaucoup de chance^□

(d) British (fix rateable value of) fixer la valeur locative imposable de;

∎ their house has been rated higher this year leur maison a été classée dans la tranche supérieure cette année

(e) literary (scold) tancer

3 intransitive verb

(rank high) se classer;

∎ he rates highly in my estimation je le tiens en très haute estime;

∎ in terms of efficiency, she rates higher than anyone else en ce qui concerne l'efficacité, elle bat tout le monde

4 rates plural noun

British formerly impôts mpl locaux

5 at any rate adverb

de toute façon, de toute manière, en tout cas

►► Marketing rate of adoption (of product) taux m d'adoption;

Marketing rate of awareness taux m de notoriété;

Finance rate band plage f ou fourchette f de taux;

Marketing rate of churn taux m de clients passés à la concurrence;

British formerly rate collector receveur(euse) m,f municipal(e);

Finance rate of depreciation taux m d'amortissement;

rate of exchange cours m ou taux m de change;

Finance rate of growth taux m d'accroissement ou de croissance;

Finance rate of increase taux m d'accroissement;

Finance & Economics rate of inflation taux m d'inflation;

British formerly rates office recette f municipale;

Marketing rate of penetration taux m de pénétration;

Chemistry rate of reaction vitesse f de réaction;

British formerly rate rebate dégrèvement m d'impôts locaux;

Marketing rate of renewal taux m de renouvellement;

Finance rate of return (on investment) taux m de rendement;

Finance rate of return pricing fixation f de prix au taux de rendement établi;

British rate support grant = subvention à une collectivité locale;

rate of taxation taux m d'imposition;

rate of uptake taux m de succès

➲ rate up separable transitive verb

Insurance

∎ to rate sb up faire payer à qn une prime plus élevée

ком. 1. норма; розмір; 2. курс; ціна; 3. ставка; тариф; 4. відсоток; пропорція; частка; коефіцієнт; 5. темп; швидкість; частота; ступінь; частотність; 6. місцевий податок (у Великобританії); 7. сорт; ґатунок; категорія

вимір, розмір, показник, межа, міра та ін. точки відносного підрахунку якої-небудь суми, вартості, витрати тощо

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absenteeism rate коефіцієнт прогулів; absorption rate ставка поглинання накладних витрат; accession rate темп приросту • відносний приріст чисельності робочої сили; accident rate частота нещасних випадків; accident frequency rate коефіцієнт травматизму; accuracy rate показник точності; actual burden rate фактична ставка накладних витрат; actual operating rate коефіцієнт фактичного використання виробничої потужності; adoption rate темп сприймання; advance booking rate тарифна ставка за попереднє замовлення; adjusted rate стандартизований коефіцієнт • скоригований коефіцієнт; advertising rate рекламний тариф • рекламна ставка; agreed rate домовлений відсоток • домовлена ставка; airfreight rate тарифи повітряного вантажного перевезення • тарифи вантажного авіаперевезення; all-commodity rate тарифи для всіх вантажів; all-in rate ставка, яка включає все; all-plant burden rate загальнофабрична ставка накладних витрат; alternative rates альтернативні тарифні ставки; amortization rate норма амортизації • норма погашення кредиту • відсоток сплати боргу; annual rate річний показник • річний рівень; annual average growth rate середньорічний темп зростання; annual capital-turnover rate річний коефіцієнт оборотності капіталу; annual interest rate річний відсоток; annualized percentage rate (APR) ставка відсотка за річним обрахуванням; annual production rate річна продуктивність; any-quantity rate тариф для будь-якої кількості вантажу; area rate зональний тариф; asset growth rate темпи зростання активів; attrition rate інтенсивність витрачання • коефіцієнт зменшення (чисельності працівників); average rate середня норма • середня ставка • середня тарифна ставка; average post-tax profit rate середня норма прибутку після сплати податку; average tax rate середня податкова ставка; average weighted rate середньозважена ставка; awareness rate ступінь обізнаності • ступінь поінформованості; backhaul rate тариф зворотного пробігу; baggage rate багажний тариф; bank rate облікова ставка банку • банківська ставка • банківський відсоток; base rate основна ставка; basic rate базова ставка • основна ставка; basing rate початковий тариф • вихідний тариф • базовий тариф; benefit reduction rate норма скорочення пільг; berth rate фрахтова ставка; birth rate коефіцієнт народжуваності; blanket rate єдиний тариф • акордна ставка; blanket burden rate єдина ставка накладних витрат • середня ставка накладних витрат; blend rate реальна відсоткова ставка • прибутковість фінансового інструменту; block meter rate ступінчасто-пропорційний тариф; bond rate курс облігацій; bonus rates нормативи нарахування премій; borrowing rate ставка відсотка на позичений капітал; brand rates ставки за багатомарочність; bridge rate проміжний тариф • перехідний тариф; budgeted factory-overhead rate кошторисна ставка розподілу фабричних накладних витрат; bulk rate тариф за розсилання великих партій; bulk cargo rate тариф на вантаж навалом; burden rate норма розподілу накладних витрат • відношення накладних витрат до витрат на оплату праці; buyer's rate курс покупця; buying rate курс покупця; cable rate курс телеграфних переказів; call rate ставка онкольних позик; call loan rate ставка відсотка онкольної позики; capacity rate коефіцієнт потужності • питома вантажомісткість судна; capitalization rate коефіцієнт капіталізації • норма капіталізації • відсоткове відношення доходу до капітальних затрат; carrier rate фрахтова ставка; case rate сума витрат з розрахунку на ящик; cash rate готівковий курс; ceiling rate гранична норма відсотка; central rate центральний курс • центральний валютний курс; check rate чековий курс • курс купівлі чеків; checkoff rate норма відрахувань; cheque rate чековий курс • курс купівлі чеків; class rate класний тариф; clearing rate розрахунковий курс; closing rate курс на момент закриття біржі • заключний курс; combination rate комбінований тариф; combined rate комбінована норма (розподілу накладних витрат); commission rate розмір комісійних • комісійні ставки; commodity rate спеціальний тариф на перевезення масових вантажів; common freight rate загальна фрахтова ставка; composite rate складна ставка; consolidated rate повна погодинна ставка; constant rate постійна інтенсивність • постійний коефіцієнт; consumption rate норма споживання • темпи споживання; container rate контейнерна ставка; contract rate договірний тариф; conventional rate домовлений відсоток; conversion rate курс конверсії • переказний курс • курс переказу; corrected rate виправлена ставка • скоригований коефіцієнт; cost rate ставка витрат • ставка накладних витрат; cost centre burden rate ставка накладних витрат для даного центру обліку; cost-per-thousand rate тариф з розрахунку на тисячу рекламних контактів; coupon rate ставка купона • купонна ставка; cover rate тариф за розміщення реклами на обкладинці; credit rate ставка за кредитом; crude rate загальний коефіцієнт; cumulative rate сумарний коефіцієнт; curb rate курс позабіржового ринку • курс чорного ринку; currency rate курс валюти • валютний курс; current rate поточна ставка • поточний курс • курс дня; customer rate сума витрат з розрахунку на клієнта; customs rate ставка митного тарифу; cut rate тариф зі знижкою • знижка; daily rate одноденна ставка; daily wage rate поденна ставка заробітної плати; death rate коефіцієнт смертності; deferred rate відстрочена ставка; demand rate обсяг потреби • курс покупців • обсяг попиту; departmental overhead rate норма накладних витрат цеху • цехова ставка накладних витрат; deposit rate ставка відсотка за вкладом • ставка за депозитом; depreciation rate норма амортизації • норма зношення; development rates темпи розвитку; differential rate диференційний тариф; discharging rates ставка на розвантажувальні роботи; discount rate ставка дисконту • дисконтний відсоток • коефіцієнт дисконтування • ставка дисконтування • облікова ставка; discountable rate тариф, з якого надається знижка; dispatch rate ставка на відправлення; dividend rate розмір дивіденду • норма дивідендів; divorce rate відсоток розлучень; dollar rate курс долара • доларовий курс; double exchange rate подвійний валютний курс; downtime rate коефіцієнт перестою; drawing rate курс продавців; driving rate пропускна спроможність за одиницю часу; dual rate подвійна ставка; dual prime rate подвійна базова ставка; duty rate митна ставка; earned rate погодинна заробітна плата • погодинна зарплата • фактичний тариф; earning rate норма виручки; economic rate економічний темп; economic expansion rate темп економічного зростання; effective rate реальна відсоткова ставка • фактична ставка; effective annual rate фактична ставка, яка виплачується щорічно; effective exchange rate ефективний валютний курс; effective interest rate фактична ставка відсотка • прибуток на момент сплати; effective tax rate ефективна податкова ставка; employment rate рівень зайнятості; equilibrium exchange rate рівноважний валютний курс; equilibrium growth rate темп рівноважного зростання; equitable rate справедливий розмір премії; error rate відсоток помилок • частота повторення помилок; estimated rate орієнтовна оцінка; evaluated wage rate тариф заробітної плати • тарифна ставка, визначена за оцінкою робіт; exchange rate; existing rates чинні ставки; exorbitant rate надмірна ставка; exorbitant interest rate надмірна ставка відсотка; expansion rate темп росту; expenditure rate швидкість витрачання • швидкість витрат; export rate експортний тариф • тариф для експортних вантажів; failure rate частота відмов • частота пошкоджень • частота невдач; fair rate пільговий курс • задовільна ставка; fallback rate відступна (мінімальна) ставка; favourable rate сприятлива ставка; final rate остаточний показник; fixed rate встановлена ставка • фіксована ставка • тверда ставка • твердий курс; fixed exchange rate встановлений курс валюти • фіксований курс валюти; fixed interest rate встановлена ставка відсотка • фіксована ставка відсотка; fixed royalty rate твердий розмір авторського гонорару • твердий розмір ліцензійної винагороди • твердий розмір платні винахідникові; flat rate однакова ставка • єдина ставка • єдиний курс; flexible exchange rate гнучкий курс валюти; floating rate плаваючий курс; floating exchange rate плаваючий валютний курс; floating interest rate плаваюча відсоткова ставка; fluctuating rate курс, що коливається; foreign exchange rate; forward rate курс за строковою угодою; free exchange rate валютний курс, що не контролюється • валютний курс, що не встановлюється урядом • вільний (ринковий) валютний курс; freight rate вантажний тариф • фрахтова ставка; future rate майбутня ставка • майбутній курс; general rate загальний коефіцієнт • загальна ставка; going rate поточний курс • звичайна ставка • поточний рівень цін • поточна ставка; going market rate поточний ринковий курс • поточний ринковий валютний курс; going wage rate чинна ставка зарплати • чинна ставка заробітної плати; goods rate вантажний тариф; gross rate максимальний тариф • валовий тариф; group rate груповий тариф • групова ставка; growth rate темп зростання • темп приросту; guaranteed rate гарантована ставка; guaranteed hourly rate гарантована ставка погодинної заробітної плати; guaranteed wage rate гарантована ставка заробітної плати • гарантована ставка зарплати; handling rate норма обробки вантажу; high rate висока ставка • високий тариф; higher rate підвищений курс; hiring rate темп набору робочої сили; hotel rate вартість одного дня перебування в готелі; hourly rate погодинна ставка; hourly wage rate погодинна ставка заробітної плати; hurdle rate мінімальна ставка прибутку; illiteracy rate відсоток неграмотного населення; import rate імпортний тариф • тариф для імпортних вантажів; incapacity rate показник непрацездатності; income tax rate ставка прибуткового податку; increment rate відсоток приросту; inflation rate темп інфляції; insurance rate страхова ставка • ставка страхової премії; interbank rate міжбанківська ставка відсотка; interest rate відсоткова ставка • процентна ставка; interruption rate частота переривання обслуговування; inventory carrying charge rate вартість збереження запасів • ставка оплати за збереження запасів; investment rate темп зростання капіталовкладень • норма інвестування; job rate виробнича норма; jobless rate відсоток безробітних; jockeying rate частота переходу з однієї черги в іншу; joint rate комбінований тариф; key rates основні ставки; labour rate ставка заробітної плати; labour turnover rate коефіцієнт обороту робочої сили; lending rate ставка позичкового відсотка; line rate тариф за рядок • рядковий тариф; literacy rate відсоток грамотного населення; loan rate відсоткова ставка позики; local rate місцева ставка; Lombard rate ломбардна ставка; low rate низька ставка; lower rate знижена норма; machine-hour rate норма витрат на машино-час; machine-hour burden rate ставка накладних витрат на машино-час; manufacturing labour rates ставки заробітної плати робітників на виробництві; marginal rate гранична ставка; marginal tax rate гранична ставка податку • гранична податкова ставка; marine rate ставка морського страхування вантажу; marine transport rate морський тариф; market rate ринкова ставка • ринковий курс; material consumption rate норма витрат матеріалу; material cost burden rate ставка накладних витрат, що відносяться на матеріали; maturing rate термін оплати • наступний термін платежу • коефіцієнт терміну платежу; maximum rate максимальна ставка; maximum tax rate максимальна ставка податку; mean annual rate середній річний показник • середньорічний показник; memory rate швидкість запам'ятовування; mileage rate плата за перевезення, що обраховуються в милях; minimum rate мінімальна ставка; moderate rate помірна ставка; monetary exchange rate грошовий курс; money market rate ставка відсотка на грошовому ринку; monthly rate місячна норма • місячна ставка; mortality rate коефіцієнт смертності; mortgage rate відсоткова ставка за заставною; multiple rate множинний курс; multiple exchange rates множинні валютні курси; national rate національна ставка; negative interest rates негативні відсоткові ставки; net rate чистий тариф; network rate мережний тариф; new-product failure rate рівень невдач нових товарів • показник відмови функціонування • показник браку; nominal interest rate номінальна ставка відсотка; nominal wage rate номінальна ставка заробітної плати; non-discountable rate тариф, з якого не надається знижок; normal spoilage rate нормативний відсоток браку; obsolescence rate ступінь старіння • швидкість старіння; offered rate пропонований курс • пропонована ставка; official rate офіційна ставка • офіційний курс; official exchange rate офіційний обмінний курс; one-time rate разовий тариф • одноразовий тариф • тариф за разове користування; open rate змінний тариф; opening rate курс при відкритті біржі; open-market rates ставки відсотка відкритого ринку; operating rate коефіцієнт використання виробничої потужності • показник діяльності; output rate норма виробітку • продуктивність; overhead rate ставка накладних витрат; overnight rate ставка відсотка одноденного вкладу • добова ставка; overtime rate розмір винагороди за понаднормову роботу; page rate тариф за шпальту • ставка за шпальту; parallel rate ринковий курс валют; par exchange rate валютний паритет; parity rate паритетний курс; par price rate курс цінного папера; participation rate норма участі; passenger rate пасажирський тариф; pay rates ставки заробітної плати; pegged rate штучно підтримуваний валютний курс; penalty rate штрафна (підвищена) ставка • розмір штрафу; penetration rate ступінь впровадження • ступінь проникнення; per diem rate добова ставка • поденна ставка; performance rate норма виробітку • рівень продуктивності • рівень виробітку; piece rate ставка відрядної заробітної плати; population growth rate темп зростання населення; port rates портові ставки; postal rate поштовий тариф; poverty rate рівень бідності; preemptive rate тариф за негарантований час; preferential rate пільгова ставка • пільговий тариф; premium rate розмір премії • норма преміальної виплати; prevailing rate чинна ставка • загально-поширена ставка; prime rate базова ставка • ставка для першокласних грошових зобов'язань; prime cost burden rate ставка витрат, які належать до прямих виробничих витрат; priority rate пріоритетна ставка; private market rates ставки приватного ринку; probability rate показник ймовірності; product failure rate відсоток товарних невдач • показник відмови функціонування товару • показник товарного браку; production rate продуктивність • виробництво • норма виробітку; profit rate норма прибутку; profitability rate норма рентабельності • норма прибутковості; profit growth rate темпи зростання прибутку; proportional rate пропорційний тариф; provisional rate умовний показник • попередній показник; published rate опублікований тариф; purchase rate частота покупок; radio rate тариф на радіорекламу; rail rates ставки залізничних тарифів; railway rate залізничний тариф; reaction rate швидкість реакції; real interest rate реальна ставка відсотка; recall rate норма вилучення; redemption rate відсоток сплати • норма сплати; reduced rate знижений тариф • знижений курс • пільгова ставка; regional rate місцевий тариф • місцева ставка • районна ставка • регіональна ставка; regular rate стандартний тариф; renewal rate ставка за пролонгованими онкольними позиками; rent rate ставка орендної плати; replacement rate коефіцієнт заміщення; repurchase rate частотність повторних покупок; retail rate роздрібний тариф • роздрібна ставка • тариф для роздрібних торговців; risk-free rate без-ризикова ставка; royalty rate розмір авторського гонорару; sales rate темп збуту; sales growth rate темпи зростання збуту • зростання темпів збуту; sampling rate темп вибору; savings rate норма заощаджень; scrap rate норма відходів; seasonal rates сезонні ставки; second rate другий сорт • другий ґатунок; seller's rate курс продавця; selling rate курс продавців; series rate тариф за серію • ставка за серію; service rate інтенсивність обслуговування; settlement rate розрахунковий курс; share turnover rate оборотність акцій; shipping rate фрахтова ставка; short rate штрафний тариф за недобір; short-term rate короткочасний тариф • короткочасна ставка; short-term interest rate ставка відсотка короткострокових позик; sickness rate коефіцієнт захворюваності; single rate єдина ставка; space rate плата за оголошення • тариф за місце • ставка за місце; special rate особливий тариф • особлива ставка; specified rate номінальний показник • розрахунковий показник; spot rate поточний курс • курс за касовими угодами; stable exchange rate стійкий валютний курс; standard rate стандартний курс • звичайна ставка • основна ставка; standardized rate стандартизований коефіцієнт; starting rate початкова ставка; stevedoring rates ставки портових вантажно-розвантажувальних робіт • норма портово-вантажних робіт; stock depletion rate інтенсивність витрачання запасів; stocking rate рівень запасів; stockturn rate інтенсивність оборотності товарних запасів; storage rate рівень запасів; straight-line rate пропорційний тариф • одноставковий тариф; subjective interest rate суб'єктивна відсоткова ставка; subscription rate ставка за передплату; substitution rate норма заміщення; survival rate коефіцієнт виживання • коефіцієнт довголіття; sustainable growth rate темп стійкого зростання; target rate запланована норма • заплановані темпи; target profit rate цільова норма прибутку; tariff rate тарифна ставка; tax rate податкова ставка • ставка оподаткування • ставка податку; taxation rate податкова ставка • ставка оподаткування; technical interest rate технічна відсоткова ставка; television rate телевізійна ставка • телевізійний тариф; television advertising rate ставка телереклами • тариф телереклами; temporary rate тимчасова ставка; third rate третій сорт • третій ґатунок; throughput rate пропускна спроможність; time rate почасова ставка • почасовий тариф; today's rate курс дня; top rate максимальна ставка; total rate загальний коефіцієнт; traffic rate інтенсивність руху • транспортний тариф; transit rate транзитний тариф; transportation rate транспортний тариф; trial rate ставка зарплати за період освоєння нової моделі; turnover rate швидкість обороту; unacceptable rate неприйнятна ставка; underwriting rate страховий тариф • розмір страхової премії; unemployment rate відсоток безробітних • рівень безробіття; unofficial rate неофіційний курс; utilization rate коефіцієнт використання; vacancy rate відсоток вільних місць • відсоток вільних приміщень; variable rate змінна ставка; variable interest rate змінна ставка відсотка; wage rate ставка заробітної плати; wastage rate норма відходів; wholesale rate оптова ставка • оптовий тариф; world market rates ставки світового ринку; zone rate зональний тариф

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acceptable rate of profit прийнятна норма прибутку; accounting rate of return (ARR) облікова норма прибутку; at a growing rate у прискореному темпі • в зростаючому обсязі; at a high rate дорого • швидко; at a low rate дешево • повільно; at the rate of розміром • за курсом • за ставкою; average annual rates of change середньорічні темпи зміни; average annual rate of growth середньорічний темп зростання; average rate of operation середня норма завантаження виробничих потужностей; average rate of rent per capital середня норма ренти на капітал; average rate of return середня норма прибутку; below the rate нижче курсу; book-value rate of return балансова норма прибутку; end-of-year rate of operation коефіцієнт використання виробничої потужності на кінець року; expected rate of net profits очікувана норма чистого прибутку; general rate of profit загальна норма прибутку; internal rate of return внутрішня ставка доходу; marginal rate of return on investment гранична норма окупності • гранична норма віддачі інвестицій; marginal rate of substitution гранична норма заміщення • гранична норма заміни; marginal rate of time preference гранична норма часової переваги; marginal rate of transformation гранична норма трансформації; rate applicable чинний тариф; rate base база для обчислення тарифу; rate card тарифний розклад; rate earned on common stockholders' equity норма прибутку на звичайні акції; rate earned on stockholders' equity норма прибутку на звичайні акції; rate earned on total assets норма прибутку на капіталовкладення; rate increase підвищення ставки • підвищення тарифу; rate of accumulation норма нагромадження • темп нагромадження; rate of activity рівень діяльності • рівень активності; rate of adjustment швидкість економічного пристосування; rate of allowance розмір зниження ціни • розмір знижки; rate of balanced growth темп збалансованого зростання; rate of change ступінь зміни • темп зміни; rate of charge ставка збору; rate of commission ставка комісійної винагороди; rate of company tax ставка оподаткування компанії; rate of compensation розмір компенсації; rate of competitiveness ступінь конкурентоспроможності; rate of consumption норма споживання; rate of conversion обмінний курс • курс переказу • курс перерахунку; rate of corporation tax ставка корпоративного податку; rate of cover розмір страхової премії; rate of currency курс валюти; rate of customer's order швидкість замовлення споживачем • темп замовлення споживачем; rate of the day курс дня; rate of dependency ступінь залежності; rate of depletion швидкість витрачання запасів; rate of deposit turnover швидкість оборотності депозитів; rate of depreciation норма амортизації • ступінь знецінення; rate of development темп розвитку; rate of discharge швидкість розвантаження • норма вивантаження • норма розвантаження; rate of discount дисконтний курс; rate of dispatch ставка відправляння; rate of drawdown темп зниження; rate of duty ставка мита; rate of earnings норма доходу; rate of economic growth темп економічного зростання; rate of exchange курс закордонної валюти • обмінний курс • курс обміну; rate of expansion ступінь розширення • темп зростання; rate of expenditure розмір витрат; rate of expenses розмір витрат; rate of foreign exchange курс закордонної валюти; rate of freight фрахтова ставка; rate of growth темп зростання; rate of increase темп збільшення • темп приросту • темп зростання; rate of increment темп приросту; rate of inflation темп інфляції • рівень інфляції; rate of insurance ставка страхової премії; rate of interest процентна ставка • відсоткова ставка; rate of inventory turnover швидкість руху товарних запасів • оборотність товарних запасів; rate of investment інвестиційна квота • норма інвестицій; • норма капіталовкладень; rate of issue курс випуску • емісійний курс; rate of levy ставка податку; rate of loading норма навантаження; rate of loading and discharging норма вантажно-розвантажувальних робіт; rate of loss норма втрат; rate of migratory increase коефіцієнт збільшення мігруючого населення; rate of option розмір премії; rate of pay ставка заробітної плати; rate of premium розмір премії; rate of price increases темп зростання цін; rate of production рівень виробництва; rate of profit норма прибутку; rate of profitability норма прибутковості • норма рентабельності • ступінь рентабельності; rate of purchase частота покупок; rate of rebuying частотність повторних покупок; rate of reduction розмір знижки; rate of remuneration розмір винагороди; rate of replacement норма заміщення; rate of return норма прибутку • коефіцієнт окупності капіталовкладень • норма прибутковості • норма віддачі; rate of return on capital норма прибутку на капітал; rate of return on investment норма прибутку на інвестицію; rate of return on net worth норма прибутку на власний капітал • норма прибутку на акціонерний капітал; rate of return regulation регулювання норми віддачі; rate of securities курс цінних паперів; rate of shrinkage норма скорочення; rate of spending темпи витрат; rate of stevedoring operations ставка портових вантажно-розвантажувальних робіт • норма портово-вантажних робіт; rate of stockturn норма оборотності товарних запасів • швидкість оборотності товарних запасів; rate of surplus value норма додаткової вартості; rate of tax ставка податку • ставка оподаткування; rate of taxation ставка оподаткування; rate of the day курс дня; rate of throughput продуктивність • виробництво • пропускна спроможність; rate of time preference коефіцієнт часової переваги; rate of turnover швидкість обороту • оборотність; rate of unemployment рівень безробіття; rate of unloading норма розвантаження; rate of underutilization коефіцієнт недовикористання; rate of use коефіцієнт використання; rate of VAT норма податку на додану вартість; rate of wages ставка заробітної плати; rate of wastage норма відходів; rate of wear and tear ступінь зношування; rate of work темп роботи • інтенсивність роботи • продуктивність роботи; rate on credit ставка за кредитом; rate on the day of payment курс на день платежу; rate per hour погодинна ставка; rate per kilometre кілометровий тариф • кілометрова ставка; to accelerate the rate прискорювати/прискорити темп; to apply tariff rates застосовувати/застосувати тариф; to cut rates знижувати/знизити ставку; to determine a rate встановлювати/встановити ставку • встановлювати/встановити курс • встановлювати/встановити норму; to establish a rate встановлювати/встановити ставку • встановлювати/встановити курс • встановлювати/ встановити норму; to fix a rate встановлювати/встановити ставку • встановлювати/встановити курс • встановлювати/встановити норму; to increase rates підвищувати/підвищити ставку • підвищувати/підвищити курс • підвищувати/ підвищити норму; to maintain high interest rates підтримувати/підтримати високий відсоток; to prescribe rates встановлювати/встановити тариф; to quote a rate призначати/призначити ставку; to reduce a rate зменшувати/зменшити ставку; to revise a rate переглядати/переглянути норму; to set a rate встановлювати/встановити норму; to slow down the rate притримувати/притримати темп • гальмувати темп; to step up the rate of growth збільшувати/збільшити темп зростання • прискорювати/прискорити темп зростання

1) (the number of occasions within a given period of time when something happens or is done: a high (monthly) accident rate in a factory.) tasa, índice

2) (the number or amount of something (in relation to something else); a ratio: There was a failure rate of one pupil in ten in the exam.) porcentaje

3) (the speed with which something happens or is done: He works at a tremendous rate; the rate of increase/expansion.) velocidad, ritmo

4) (the level (of pay), cost etc (of or for something): What is the rate of pay for this job?) tarifa

5) ((usually in plural) a tax, especially, in United Kingdom, paid by house-owners etc to help with the running of their town etc.) contribución municipal, impuestos municipales

- rating

rate n

1. tasa / índice / tipo

2. razón

3. ritmo

tr[reɪt]

noun

1 tasa, índice nombre masculino

■ the rate of growth has slowed down la tasa de crecimiento ha disminuido

2 (speed) velocidad nombre femenino, ritmo

■ at the rate he's going he'll finish by Tuesday al paso que lleva, acabará el martes

■ at this rate there'll be no woods left a este paso no quedará bosque, como sigamos así no quedará bosque

3 (price) tarifa, precio

■ we were paid at the standard rate nos pagaron según la tarifa habitual

transitive verb

1 (consider) considerar

■ I rate this her best book yet creo que éste es su mejor libro hasta la fecha

■ how do rate your chances for the race? ¿qué oportunidad crees que tienes en la carrera?

2 (deserve) merecer

■ the fire rated no more than three lines in the local paper el incendio mereció tan solo tres líneas en el diario local

3 (fix value) tasar

plural noun rates

1 SMALLBRITISH ENGLISH/SMALL contribución f sing urbana

\

at any rate (anyway) de todos modos 2 (at least) por lo menos, al menos

at the rate of a razón de

first/second rate de primera/segunda (categoría)

interest rate tipo de interés

rate of exchange tipo de cambio

rate of inflation tasa de inflación

rate ['reɪt] vt, rated ; rating

1) consider, regard: considerar, estimar

2) deserve: merecer

rate n

1) pace, speed: velocidad f, ritmo m

at this rate: a este paso

2) : índice m, tasa f

birth rate: índice de natalidad

interest rate: tasa de interés

3) charge, price: precio m, tarifa f

• tanto por ciento adv.

• cadencia s.f.

• cuota s.f.

• paso s.m.

• porcentaje s.m.

• precio s.m.

• proporción s.f.

• ritmo s.m.

• tarifa s.f.

• tasa s.f.

• valoración s.f.

• velocidad s.f.

• tasar v.

• valuar v.

1)

a) ( speed) velocidad; ( rhythm) ritmo m

b) (level, ratio)

c) (price, charge) tarifa f

2) ( local tax) (formerly, in UK) (often pl) ≈contribución f (municipal or inmobiliaria)

1)

a) (rank, consider)

b) ( consider good) (BrE colloq) (usu neg)

2) ( deserve) merecer*; ( obtain)

a) ( be classed)

b) ( measure up)

1. N

1) (=proportion, ratio)

2) (=speed) (gen) velocidad f ; [of work] ritmo m

3) (=price) (for tickets) precio m ; [of hotel, telephone service] tarifa f

4) (Econ) [of stocks] cotización f

5) rates (Brit) (formerly) (=local tax) contribución fsing municipal, impuesto msing municipal

2. VT

1) (=rank)

2) (=consider, regard) considerar

3) * (=regard as good)

4) (=deserve) merecer(se)

5) (Brit) (for local tax) [+ property] tasar, valorar (at en)

3. VI

1) (=perform, measure up)

2)

[reɪt]

* * *

1)

a) ( speed) velocidad; ( rhythm) ritmo m

b) (level, ratio)

c) (price, charge) tarifa f

2) ( local tax) (formerly, in UK) (often pl) ≈contribución f (municipal or inmobiliaria)

1)

a) (rank, consider)

b) ( consider good) (BrE colloq) (usu neg)

2) ( deserve) merecer*; ( obtain)

a) ( be classed)

b) ( measure up)

— ablation rate

— ablative rate

— abortive-sortie rate

— acceleration rate

— acceleration-insensitive drift rate

— acceleration-sensitive drift rate

— acceptance rate

— accident rate

— adiabatic lapse rate

— aerodynamic heating rate

— aft stick rate

— aileron rate

— air delivery rate

— aircraft attrition rate

— airflow rate

— altitude rate

— angle-of-attack rate

— angular rate

— angular spin rate

— approach rate

— attainable roll rate

— attitude rate

— autorotation descent rate

— average flow rate

— azimuth rate

— azimuth wander rate

— barometric altitude rate

— blunder rate

— bombing rate

— breathing rate

— calculated flow rate

— calculated mass-loss rate

— cargo rate

— chemical corrosion rate

— closing rate

— closure rate

— combustion rate

— combustor fuel-flow rate

— commutation rate

— composite strain rate

— controlled burning rate

— convective heat-transfer rate

— coolant-flow rate

— cooling rate

— corrosion rate

— crack growth rate

— crack propagation rate

— creep rate

— cycling rate

— damping rate

— data rate

— decay rate

— defueling rate

— degradation rate

— delivery rate

— depressurization rate

— diffusion rate

— discharge rate

— dissociation rate

— docking closing rate

— drift rate

— earth rate

— ejection success rate

— elevation rate

— energy release rate

— engine heating rate

— entry rate

— erection rate

— erosion rate

— erosive burning rate

— error rate

— even rate

— excess sink rate

— expansion rate

— expenditure rate

— failure rate

— fine descent rate

— firing rate

— fixed-wing rate

— flame propagation rate

— flight rate

— flow rate

— flying wreck rate

— following rate

— free-radical recombination rate

— freight rate

— fuel burn rate

— fuel consumption rate

— fuel-flow rate

— fueling rate

— fuel-regression rate

— gas production rate

— geocentric range rate

— good rate

— ground wreck rate

— gyro drift rate

— gyro pitch rate

— gyro precession rate

— gyro torquing rate

— heat input rate

— heat rejection rate

— heat-exchange rate

— heating rate

— heat-release rate

— heat-transfer rate

— hourly drift rate

— in-commission rate

— in-flight refueling rate

— in-flight shutdown rate

— information handling rate

— information processing rate

— information rate

— input turning rate

— instantaneous altitude rate

— instantaneous flow rate

— instantaneous turn rate

— instrument scanning rate

— internal heating rate

— interrogation rate

— ion-flow rate

— laminar heat-transfer rate

— landing-success rate

— lapse rate

— lateral rate

— launcher slewing rate

— launcher turning rate

— launching rate

— leakage rate

— levelling rate

— limit roll rate

— linear rate

— line-of-sight rate

— maintenance rate

— malfunction rate

— mass ablation rate

— mass burning rate

— mass flow rate

— mass loss rate

— mass-transfer rate

— mean flow rate

— message data rate

— missile turning rate

— mission abort rate

— moisture absorption rate

— negative pitch rate

— nonuniform roll rate

— normal lapse rate

— nose-down pitchrate

— nose-up pitch rate

— no-wind sink rate

— nutation rate

— oil circulation rate

— one-second rate

— oxidizer-flow rate

— passenger fatality rate

— peak roll rate

— peak turn rate

— pilot trim rate

— pitching rate

— pneumatic flow rate

— positive pitch rate

— precession rate

— pressure lapse rate

— production-line-movement rate

— propellant burning rate

— propellant flow rate

— pulse repetition rate

— pyrolysis decomposition rate

— pyrolysis rate

— random drift rate

— range rate

— rapid roll rate

— rapid sink rate

— rate of advance

— rate of ascent

— rate of build-up

— rate of climb

— rate of closure

— rate of deflection

— rate of descent

— rate of divergence

— rate of formation

— rate of injection

— rate of ionization

— rate of loading

— rate of movement

— rate of overshoot

— rate of pressurization

— rate of pull-up

— rate of rate

— rate of regression

— rate of revolution

— rate of roll-In

— rate of testing

— reaction rate

— ready rate

— recession rate

— recombination rate

— recovery rate

— recurrence rate

— redundancy rate

— refueling rate

— regression rate

— repetition rate

— response rate

— rolling rate

— rotation rate

— runway scatter rate

— sampling rate

— scanning rate

— search rate

— sideslip rate

— sightline spin rate

— sightline turn rate

— sinking rate

— six-second sampling rate

— slaving rate

— slewing rate

— sortie rate

— speed bleed-off rate

— spin rate

— spring rate

— stabilization rate

— stabilizer rate

— stall entry rate

— standard lapse rate

— steady rate

— steady-state flow rate

— steady-state spin rate

— stick rate

— straining rate

— strand burning rate

— subcommutation rate

— sublimation rate

— surface ablation rate

— surface heat rate

— surface rate

— surface recession rate

— sustained turn rate

— switching rate

— systematic drift rate

— temperature lapse rate

— test flight rate

— thermal emissivity rate

— throttle retard rate

— torquing rate

— total impulse rate

— tracking rate

— traffic rate

— transmission rate

— trim rate

— tumbling rate

— turbulent heat-transfer rate

— turn rate

— vehicle rate

— vertical climb rate

— volume-flow rate

— volumetric flow rate

— wander rate

— weight flow rate

— wing tilt rate

— yawing rate

— zero accident rate

— zero sinking rate

1) (to come or go back: He returns home tomorrow; He returned to London from Paris yesterday; The pain has returned.) volver, regresar

2) (to give, send, put etc (something) back where it came from: He returned the book to its shelf; Don't forget to return the books you borrowed.) devolver

3) (I'll return to this topic in a minute.) volver

4) (to do (something) which has been done to oneself: She hit him and he returned the blow; He said how nice it was to see her again, and she returned the compliment.) devolver

5) ((of voters) to elect (someone) to Parliament.) elegir

6) ((of a jury) to give (a verdict): The jury returned a verdict of not guilty.) pronunciar, declarar

7) ((in tennis etc) to hit (a ball) back to one's opponent: She returned his serve.) devolver

1) (the act of returning: On our return, we found the house had been burgled; (also adjective) a return journey.) vuelta, regreso

2) (especially in United Kingdom, a round-trip ticket, a return ticket: Do you want a single or a return?) billete de ida y vuelta

•

- returnable

return¹ n

1. vuelta / regreso

2. billete de ida y vuelta

return² vb

1. volver / regresar

2. devolver

tr[rɪ'tɜːn]

noun

1 (coming or going back) vuelta, regreso

■ on his return, he found the safe empty a su regreso, encontró la caja vacía

2 (giving back) devolución nombre femenino

■ I would appreciate the return of my money agradecería que me devolvieran el dinero

3 SMALLSPORT/SMALL (of ball) devolución nombre femenino; (of service) resto

4 (reappearance) reaparición nombre femenino

5 (on keyboard) retorno

6 (profit) beneficio

7 (ticket) billete nombre masculino de ida y vuelta

intransitive verb

1 (come back, go back) volver, regresar

■ he's returning tomorrow vuelve mañana

2 (reappear) reaparecer

transitive verb

1 (give back) devolver

■ have you returned your room key? ¿ha devuelto la llave de su habitación?

2 SMALLSPORT/SMALL (ball) devolver; (serve) restar

3 SMALLPOLITICS/SMALL (elect) elegir

4 (verdict) pronunciar

5 (interest) producir

plural noun returns

1 resultados nombre masculino plural electorales

\

by return of post a vuelta de correo

in return for a cambio de

many happy returns (of the day)! ¡feliz cumpleaños!

return to sender devuélvase al remitente

return match partido de vuelta

return ticket billete nombre masculino de ida y vuelta

return [ri'tərn] vi

1) : volver, regresar

to return home: regresar a casa

2) reappear: reaparecer, resurgir

3) answer: responder

return vt

1) replace, restore: devolver, volver (a poner), restituir

to return something to its place: volver a poner algo en su lugar

2) yield: producir, redituar, rendir

3) repay: pagar, devolver

to return a compliment: devolver un cumplido

return adj

: de vuelta

return n

1) returning: regreso m, vuelta f, retorno m

2) or tax return : declaración f de impuestos

3) yield: rédito m, rendimiento m, ganancia f

4) returns npl

data, results: resultados mpl, datos mpl

• de vuelta adj.

• devolución s.f.

• reaparición s.f.

• regreso s.m.

• renta s.f.

• restitución s.f.

• retorno s.m.

• rédito s.m.

• torna s.f.

• tornada s.f.

• volver s.m.

• vuelta s.f.

• devolver v.

• regresar v.

• restituir v.

• retornar v.

• tornar v.

• volver v.

a) ( go back)

b) ( reappear) \<\<symptom\>\> volver* a aparecer, presentarse de nuevo; \<\<doubts/suspicions\>\> resurgir*

1)

a) ( give back) devolver*, regresar (AmL exc CS), restituir* (frml)

b) ( reciprocate) \<\<affection\>\> corresponder a; \<\<blow/favor\>\> devolver*; \<\<greeting\>\> devolver*, corresponder a

c) ( Sport) \<\<ball\>\> devolver*

2) ( Law) \<\<verdict\>\> emitir

3) ( Govt) \<\<candidate\>\> ( re-elect) reelegir*; ( elect) (BrE) elegir*

1) u

a) ( to place) regreso m, vuelta f, retorno m (frml o liter)

b) (to former activity, state) vuelta f, retorno m

c) ( reappearance) reaparición f

2) u c ( to owner) devolución f, regreso m (AmL); ( of thing bought) devolución f

3) (in phrases)

4) u c ( profit)

5) c

a) ( tax return) declaración f (de la renta or de impuestos)

b) returns pl ( data) datos mpl; ( figures) cifras fpl

6) c ( Sport) devolución f

7) c ( ticket) (BrE) boleto m or (Esp) billete m or (Col) tiquete m de ida y vuelta, boleto m de viaje redondo (Méx)

adjective (before n)

a) <journey/flight> de vuelta, de regreso; <ticket/fare> (BrE) de ida y vuelta, de viaje redondo (Méx)

b) ( Sport) de vuelta

1. N

1) (=going/coming back) vuelta f, regreso m

2) (=reappearance) [of symptoms, pain] reaparición f ; [of doubts, fears] resurgimiento m

3) (=giving back) [of thing taken away] devolución f, restitución f frm; [of thing borrowed] devolución f ; (Comm) [of merchandise] devolución f ; [of money] reembolso m, devolución f

4) (=thing returned) (Comm) (=merchandise) devolución f ; (=theatre, concert ticket) devolución f, entrada f devuelta; (=library book) libro m devuelto

5) (Econ) (=profit) ganancia f ; (from investments, shares) rendimiento m

6) (=reward, exchange)

7) returns (=figures) estadísticas fpl ( for de); (=election results) resultados mpl (del escrutinio)

8) (=answer) (in surveys) respuesta f, declaración f

9) (Parl) [of member] (=election) elección f ; (=reelection) reelección f

10) (also: return ticket) billete m de ida y vuelta, billete m redondo (Mex); day

11) (Sport) devolución f

12) = return key

13) = carriage return

2. VT

1) (=give back) [+ item] devolver, regresar (LAm), restituir frm; [+ favour, sb's visit, telephone call, blow] devolver; [+ kindness, love] corresponder a; [+ greeting, look, gaze] devolver, responder a

2) (=put back) volver a colocar

3) (Sport) [+ ball] devolver; (Tennis) devolver, restar; (Bridge) [+ suit of cards] devolver

4) (=declare) [+ income, details] declarar

5) (Pol) (=elect) elegir, votar a; (=reelect) reelegir

6) (Econ) [+ profit, income] reportar, rendir

7) (=reply) responder, contestar

3. VI

1) (=go/come back) volver, regresar

2) (=reappear) [symptoms] volver a aparecer, reaparecer; [doubts, fears, suspicions] volver a surgir, resurgir

3) (Jur) revertir (to a)

CPD [journey, flight] de regreso, de vuelta

* * *

a) ( go back)

b) ( reappear) \<\<symptom\>\> volver* a aparecer, presentarse de nuevo; \<\<doubts/suspicions\>\> resurgir*

1)

a) ( give back) devolver*, regresar (AmL exc CS), restituir* (frml)

b) ( reciprocate) \<\<affection\>\> corresponder a; \<\<blow/favor\>\> devolver*; \<\<greeting\>\> devolver*, corresponder a

c) ( Sport) \<\<ball\>\> devolver*

2) ( Law) \<\<verdict\>\> emitir

3) ( Govt) \<\<candidate\>\> ( re-elect) reelegir*; ( elect) (BrE) elegir*

1) u

a) ( to place) regreso m, vuelta f, retorno m (frml o liter)

b) (to former activity, state) vuelta f, retorno m

c) ( reappearance) reaparición f

2) u c ( to owner) devolución f, regreso m (AmL); ( of thing bought) devolución f

3) (in phrases)

4) u c ( profit)

5) c

a) ( tax return) declaración f (de la renta or de impuestos)

b) returns pl ( data) datos mpl; ( figures) cifras fpl

6) c ( Sport) devolución f

7) c ( ticket) (BrE) boleto m or (Esp) billete m or (Col) tiquete m de ida y vuelta, boleto m de viaje redondo (Méx)

adjective (before n)

a) <journey/flight> de vuelta, de regreso; <ticket/fare> (BrE) de ida y vuelta, de viaje redondo (Méx)

b) ( Sport) de vuelta

эк. цена, обеспечивающая справедливую доходность [прибыльность\]* (цена, позволяющая производителю компенсировать понесенные затраты и получить нормальную норму прибыли; часто речь идет о регулируемых государством ценах предприятий коммунальной сферы и естественных монополий)

1) Общая лексика: hum. сокр. Nuclear Receptor Resource

2) Военный термин: naval research reactor, not recommended for reenlistment, nuclear rocket reactor

3) Техника: national research reactor, nuclear reactor regulation

4) Железнодорожный термин: Nobles Rock Railroad

5) Бухгалтерия: Normal Rate Of Return

6) Иммунология: National Research Register

7) Фирменный знак: New Realm Records, Inc., North Reef Rippers

8) Образование: Non Re Reading

9) Авиационная медицина: noise reduction rating

1) Компьютерная техника: Round Robin Rtos

2) Медицина: нормальная частота и ритм сердцебиений (regular rate and rhythm), relative risk reduction (доказательная медицина)

3) Американизм: Risk Retention Reporter

4) Военный термин: Risk Reduction Report, SOS for a Surface Raider Attack, rapid runway repair, reduced residual radiation

5) Техника: ( minimum) required rate of return, Raleigh Research Reactor, repairable return rate

6) Шутливое выражение: Rum Romanism And Rebellion

7) Бухгалтерия: Required Reserve Ratio

8) Статистика: Ratios of the rate ratios

9) Сокращение: RAM Rationale Report, Radical Religious Right, Raleigh Research Reactor( North Carolina State College), Range Rover Register, Rayman Raving Rabbids (game), Reading, 'Riting, 'Rithmetic, Real Rate of Return, Real Recognizes Real, Recommended Retail Rate, Red Right Returning (nautical navigation), Reduccion del Riesgo Relativo (Spanish: absolute risk reduction), Reduce Reuse Recycle, Regular Rate and Rhythm (normal cardiac physical exam), Relative Risk Ratio, Relative Risk Reduction, Release Readiness Review (software engineering), Release Requirements Review, Religious Radical Right, Remove, Repair & Replace, Required Rate of Return, Requirements Rational Report, Resistor-Reactor Rectifier, Resource Recovery and Recycling, Resource Rent Royalty (Australia), Resource Requisitions Request, Respiration, Rate, and Rhythm (Cardiac examination), Return, Repair and Reshipment, Right-Red-Return (navigation, channel bouy color), Risk Reduction Reports, Ritalin Reading Room, River Regulating Reservoir, Road Runner Relay (fundraising event), Rotors Running Refuel, Routing with Resource Reservation, Royal Rhodesia Regiment, Ruff Ryder Records (record label)

10) Физиология: Regular rate and rhythm

11) Электроника: Range and Range Rate, Residual Resistance Ratio

12) Нефть: норма возврата после ремонта (repairable return rate)

13) Экология: rainfall-runoff relation

14) СМИ: Receiving Recording Reviewing

15) Почта: с уведомлением о вручении (return receipt requested)

16) Аудит: reserve replacement ratio

17) Образование: Reading Respect Responsibility

18) Физика твёрдого тела: residual resistivity ratio

19) Чат: Really Really Really

SUBJECT AREA: Automotive engineering, Land transport

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He was the son of an Irish immigrant farmer, William Ford, and the oldest son to survive of Mary Litogot; his mother died in 1876 with the birth of her sixth child. He went to the village school, and at the age of 16 he was apprenticed to Flower brothers' machine shop and then at the Drydock \& Engineering Works in Detroit. In 1882 he left to return to the family farm and spent some time working with a 1 1/2 hp steam engine doing odd jobs for the farming community at $3 per day. He was then employed as a demonstrator for Westinghouse steam engines. He met Clara Jane Bryant at New Year 1885 and they were married on 11 April 1888. Their only child, Edsel Bryant Ford, was born on 6 November 1893.

At that time Henry worked on steam engine repairs for the Edison Illuminating Company, where he became Chief Engineer. He became one of a group working to develop a "horseless carriage" in 1896 and in June completed his first vehicle, a "quadri cycle" with a two-cylinder engine. It was built in a brick shed, which had to be partially demolished to get the carriage out.

Ford became involved in motor racing, at which he was more successful than he was in starting a car-manufacturing company. Several early ventures failed, until the Ford Motor Company of 1903. By October 1908 they had started with production of the Model T. The first, of which over 15 million were built up to the end of its production in May 1927, came out with bought-out steel stampings and a planetary gearbox, and had a one-piece four-cylinder block with a bolt-on head. This was one of the most successful models built by Ford or any other motor manufacturer in the life of the motor car.

Interchangeability of components was an important element in Ford's philosophy. Ford was a pioneer in the use of vanadium steel for engine components. He adopted the principles of Frederick Taylor, the pioneer of time-and-motion study, and installed the world's first moving assembly line for the production of magnetos, started in 1913. He installed blast furnaces at the factory to make his own steel, and he also promoted research and the cultivation of the soya bean, from which a plastic was derived.

In October 1913 he introduced the "Five Dollar Day", almost doubling the normal rate of pay. This was a profit-sharing scheme for his employees and contained an element of a reward for good behaviour. About this time he initiated work on an agricultural tractor, the "Fordson" made by a separate company, the directors of which were Henry and his son Edsel.

In 1915 he chartered the Oscar II, a "peace ship", and with fifty-five delegates sailed for Europe a week before Christmas, docking at Oslo. Their objective was to appeal to all European Heads of State to stop the war. He had hoped to persuade manufacturers to replace armaments with tractors in their production programmes. In the event, Ford took to his bed in the hotel with a chill, stayed there for five days and then sailed for New York and home. He did, however, continue to finance the peace activists who remained in Europe. Back in America, he stood for election to the US Senate but was defeated. He was probably the father of John Dahlinger, illegitimate son of Evangeline Dahlinger, a stenographer employed by the firm and on whom he lavished gifts of cars, clothes and properties. He became the owner of a weekly newspaper, the Dearborn Independent, which became the medium for the expression of many of his more unorthodox ideas. He was involved in a lawsuit with the Chicago Tribune in 1919, during which he was cross-examined on his knowledge of American history: he is reputed to have said "History is bunk". What he actually said was, "History is bunk as it is taught in schools", a very different comment. The lawyers who thus made a fool of him would have been surprised if they could have foreseen the force and energy that their actions were to release. For years Ford employed a team of specialists to scour America and Europe for furniture, artefacts and relics of all kinds, illustrating various aspects of history. Starting with the Wayside Inn from South Sudbury, Massachusetts, buildings were bought, dismantled and moved, to be reconstructed in Greenfield Village, near Dearborn. The courthouse where Abraham Lincoln had practised law and the Ohio bicycle shop where the Wright brothers built their first primitive aeroplane were added to the farmhouse where the proprietor, Henry Ford, had been born. Replicas were made of Independence Hall, Congress Hall and the old City Hall in Philadelphia, and even a reconstruction of Edison's Menlo Park laboratory was installed. The Henry Ford museum was officially opened on 21 October 1929, on the fiftieth anniversary of Edison's invention of the incandescent bulb, but it continued to be a primary preoccupation of the great American car maker until his death.

Henry Ford was also responsible for a number of aeronautical developments at the Ford Airport at Dearborn. He introduced the first use of radio to guide a commercial aircraft, the first regular airmail service in the United States. He also manufactured the country's first all-metal multi-engined plane, the Ford Tri-Motor.

Edsel became President of the Ford Motor Company on his father's resignation from that position on 30 December 1918. Following the end of production in May 1927 of the Model T, the replacement Model A was not in production for another six months. During this period Henry Ford, though officially retired from the presidency of the company, repeatedly interfered and countermanded the orders of his son, ostensibly the man in charge. Edsel, who died of stomach cancer at his home at Grosse Point, Detroit, on 26 May 1943, was the father of Henry Ford II. Henry Ford died at his home, "Fair Lane", four years after his son's death.

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   Before Romans described western Iberia or Hispania as "Lusitania," ancient Iberians inhabited the land. Phoenician and Greek trading settlements grew up in the Tagus estuary area and nearby coasts. Beginning around 202 BCE, Romans invaded what is today southern Portugal. With Rome's defeat of Carthage, Romans proceeded to conquer and rule the western region north of the Tagus, which they named Roman "Lusitania." In the fourth century CE, as Rome's rule weakened, the area experienced yet another invasion—Germanic tribes, principally the Suevi, who eventually were Christianized. During the sixth century CE, the Suevi kingdom was superseded by yet another Germanic tribe—the Christian Visigoths.

   A major turning point in Portugal's history came in 711, as Muslim armies from North Africa, consisting of both Arab and Berber elements, invaded the Iberian Peninsula from across the Straits of Gibraltar. They entered what is now Portugal in 714, and proceeded to conquer most of the country except for the far north. For the next half a millennium, Islam and Muslim presence in Portugal left a significant mark upon the politics, government, language, and culture of the country.

   Islam, Reconquest, and Portugal Created, 714-1140

   The long frontier struggle between Muslim invaders and Christian communities in the north of the Iberian peninsula was called the Reconquista (Reconquest). It was during this struggle that the first dynasty of Portuguese kings (Burgundian) emerged and the independent monarchy of Portugal was established. Christian forces moved south from what is now the extreme north of Portugal and gradually defeated Muslim forces, besieging and capturing towns under Muslim sway. In the ninth century, as Christian forces slowly made their way southward, Christian elements were dominant only in the area between Minho province and the Douro River; this region became known as "territorium Portu-calense."

   In the 11th century, the advance of the Reconquest quickened as local Christian armies were reinforced by crusading knights from what is now France and England. Christian forces took Montemor (1034), at the Mondego River; Lamego (1058); Viseu (1058); and Coimbra (1064). In 1095, the king of Castile and Léon granted the country of "Portu-cale," what became northern Portugal, to a Burgundian count who had emigrated from France. This was the foundation of Portugal. In 1139, a descendant of this count, Afonso Henriques, proclaimed himself "King of Portugal." He was Portugal's first monarch, the "Founder," and the first of the Burgundian dynasty, which ruled until 1385.

   The emergence of Portugal in the 12th century as a separate monarchy in Iberia occurred before the Christian Reconquest of the peninsula. In the 1140s, the pope in Rome recognized Afonso Henriques as king of Portugal. In 1147, after a long, bloody siege, Muslim-occupied Lisbon fell to Afonso Henriques's army. Lisbon was the greatest prize of the 500-year war. Assisting this effort were English crusaders on their way to the Holy Land; the first bishop of Lisbon was an Englishman. When the Portuguese captured Faro and Silves in the Algarve province in 1248-50, the Reconquest of the extreme western portion of the Iberian peninsula was complete—significantly, more than two centuries before the Spanish crown completed the Reconquest of the eastern portion by capturing Granada in 1492.

   Consolidation and Independence of Burgundian Portugal, 1140-1385

   Two main themes of Portugal's early existence as a monarchy are the consolidation of control over the realm and the defeat of a Castil-ian threat from the east to its independence. At the end of this period came the birth of a new royal dynasty (Aviz), which prepared to carry the Christian Reconquest beyond continental Portugal across the straits of Gibraltar to North Africa. There was a variety of motives behind these developments. Portugal's independent existence was imperiled by threats from neighboring Iberian kingdoms to the north and east. Politics were dominated not only by efforts against the Muslims in

   Portugal (until 1250) and in nearby southern Spain (until 1492), but also by internecine warfare among the kingdoms of Castile, Léon, Aragon, and Portugal. A final comeback of Muslim forces was defeated at the battle of Salado (1340) by allied Castilian and Portuguese forces. In the emerging Kingdom of Portugal, the monarch gradually gained power over and neutralized the nobility and the Church.

   The historic and commonplace Portuguese saying "From Spain, neither a good wind nor a good marriage" was literally played out in diplomacy and war in the late 14th-century struggles for mastery in the peninsula. Larger, more populous Castile was pitted against smaller Portugal. Castile's Juan I intended to force a union between Castile and Portugal during this era of confusion and conflict. In late 1383, Portugal's King Fernando, the last king of the Burgundian dynasty, suddenly died prematurely at age 38, and the Master of Aviz, Portugal's most powerful nobleman, took up the cause of independence and resistance against Castile's invasion. The Master of Aviz, who became King João I of Portugal, was able to obtain foreign assistance. With the aid of English archers, Joao's armies defeated the Castilians in the crucial battle of Aljubarrota, on 14 August 1385, a victory that assured the independence of the Portuguese monarchy from its Castilian nemesis for several centuries.

   Aviz Dynasty and Portugal's First Overseas Empire, 1385-1580

   The results of the victory at Aljubarrota, much celebrated in Portugal's art and monuments, and the rise of the Aviz dynasty also helped to establish a new merchant class in Lisbon and Oporto, Portugal's second city. This group supported King João I's program of carrying the Reconquest to North Africa, since it was interested in expanding Portugal's foreign commerce and tapping into Muslim trade routes and resources in Africa. With the Reconquest against the Muslims completed in Portugal and the threat from Castile thwarted for the moment, the Aviz dynasty launched an era of overseas conquest, exploration, and trade. These efforts dominated Portugal's 15th and 16th centuries.

   The overseas empire and age of Discoveries began with Portugal's bold conquest in 1415 of the Moroccan city of Ceuta. One royal member of the 1415 expedition was young, 21-year-old Prince Henry, later known in history as "Prince Henry the Navigator." His part in the capture of Ceuta won Henry his knighthood and began Portugal's "Marvelous Century," during which the small kingdom was counted as a European and world power of consequence. Henry was the son of King João I and his English queen, Philippa of Lancaster, but he did not inherit the throne. Instead, he spent most of his life and his fortune, and that of the wealthy military Order of Christ, on various imperial ventures and on voyages of exploration down the African coast and into the Atlantic. While mythology has surrounded Henry's controversial role in the Discoveries, and this role has been exaggerated, there is no doubt that he played a vital part in the initiation of Portugal's first overseas empire and in encouraging exploration. He was naturally curious, had a sense of mission for Portugal, and was a strong leader. He also had wealth to expend; at least a third of the African voyages of the time were under his sponsorship. If Prince Henry himself knew little science, significant scientific advances in navigation were made in his day.

   What were Portugal's motives for this new imperial effort? The well-worn historical cliche of "God, Glory, and Gold" can only partly explain the motivation of a small kingdom with few natural resources and barely 1 million people, which was greatly outnumbered by the other powers it confronted. Among Portuguese objectives were the desire to exploit known North African trade routes and resources (gold, wheat, leather, weaponry, and other goods that were scarce in Iberia); the need to outflank the Muslim world in the Mediterranean by sailing around Africa, attacking Muslims en route; and the wish to ally with Christian kingdoms beyond Africa. This enterprise also involved a strategy of breaking the Venetian spice monopoly by trading directly with the East by means of discovering and exploiting a sea route around Africa to Asia. Besides the commercial motives, Portugal nurtured a strong crusading sense of Christian mission, and various classes in the kingdom saw an opportunity for fame and gain.

   By the time of Prince Henry's death in 1460, Portugal had gained control of the Atlantic archipelagos of the Azores and Madeiras, begun to colonize the Cape Verde Islands, failed to conquer the Canary Islands from Castile, captured various cities on Morocco's coast, and explored as far as Senegal, West Africa, down the African coast. By 1488, Bar-tolomeu Dias had rounded the Cape of Good Hope in South Africa and thereby discovered the way to the Indian Ocean.

   Portugal's largely coastal African empire and later its fragile Asian empire brought unexpected wealth but were purchased at a high price. Costs included wars of conquest and defense against rival powers, manning the far-flung navel and trade fleets and scattered castle-fortresses, and staffing its small but fierce armies, all of which entailed a loss of skills and population to maintain a scattered empire. Always short of capital, the monarchy became indebted to bankers. There were many defeats beginning in the 16th century at the hands of the larger imperial European monarchies (Spain, France, England, and Holland) and many attacks on Portugal and its strung-out empire. Typically, there was also the conflict that arose when a tenuously held world empire that rarely if ever paid its way demanded finance and manpower Portugal itself lacked.

   The first 80 years of the glorious imperial era, the golden age of Portugal's imperial power and world influence, was an African phase. During 1415-88, Portuguese navigators and explorers in small ships, some of them caravelas (caravels), explored the treacherous, disease-ridden coasts of Africa from Morocco to South Africa beyond the Cape of Good Hope. By the 1470s, the Portuguese had reached the Gulf of Guinea and, in the early 1480s, what is now Angola. Bartolomeu Dias's extraordinary voyage of 1487-88 to South Africa's coast and the edge of the Indian Ocean convinced Portugal that the best route to Asia's spices and Christians lay south, around the tip of southern Africa. Between 1488 and 1495, there was a hiatus caused in part by domestic conflict in Portugal, discussion of resources available for further conquests beyond Africa in Asia, and serious questions as to Portugal's capacity to reach beyond Africa. In 1495, King Manuel and his council decided to strike for Asia, whatever the consequences. In 1497-99, Vasco da Gama, under royal orders, made the epic two-year voyage that discovered the sea route to western India (Asia), outflanked Islam and Venice, and began Portugal's Asian empire. Within 50 years, Portugal had discovered and begun the exploitation of its largest colony, Brazil, and set up forts and trading posts from the Middle East (Aden and Ormuz), India (Calicut, Goa, etc.), Malacca, and Indonesia to Macau in China.

   By the 1550s, parts of its largely coastal, maritime trading post empire from Morocco to the Moluccas were under siege from various hostile forces, including Muslims, Christians, and Hindi. Although Moroccan forces expelled the Portuguese from the major coastal cities by 1550, the rival European monarchies of Castile (Spain), England, France, and later Holland began to seize portions of her undermanned, outgunned maritime empire.

   In 1580, Phillip II of Spain, whose mother was a Portuguese princess and who had a strong claim to the Portuguese throne, invaded Portugal, claimed the throne, and assumed control over the realm and, by extension, its African, Asian, and American empires. Phillip II filled the power vacuum that appeared in Portugal following the loss of most of Portugal's army and its young, headstrong King Sebastião in a disastrous war in Morocco. Sebastiao's death in battle (1578) and the lack of a natural heir to succeed him, as well as the weak leadership of the cardinal who briefly assumed control in Lisbon, led to a crisis that Spain's strong monarch exploited. As a result, Portugal lost its independence to Spain for a period of 60 years.

   Portugal under Spanish Rule, 1580-1640

   Despite the disastrous nature of Portugal's experience under Spanish rule, "The Babylonian Captivity" gave birth to modern Portuguese nationalism, its second overseas empire, and its modern alliance system with England. Although Spain allowed Portugal's weakened empire some autonomy, Spanish rule in Portugal became increasingly burdensome and unacceptable. Spain's ambitious imperial efforts in Europe and overseas had an impact on the Portuguese as Spain made greater and greater demands on its smaller neighbor for manpower and money. Portugal's culture underwent a controversial Castilianization, while its empire became hostage to Spain's fortunes. New rival powers England, France, and Holland attacked and took parts of Spain's empire and at the same time attacked Portugal's empire, as well as the mother country.

   Portugal's empire bore the consequences of being attacked by Spain's bitter enemies in what was a form of world war. Portuguese losses were heavy. By 1640, Portugal had lost most of its Moroccan cities as well as Ceylon, the Moluccas, and sections of India. With this, Portugal's Asian empire was gravely weakened. Only Goa, Damão, Diu, Bombay, Timor, and Macau remained and, in Brazil, Dutch forces occupied the northeast.

   On 1 December 1640, long commemorated as a national holiday, Portuguese rebels led by the duke of Braganza overthrew Spanish domination and took advantage of Spanish weakness following a more serious rebellion in Catalonia. Portugal regained independence from Spain, but at a price: dependence on foreign assistance to maintain its independence in the form of the renewal of the alliance with England.

   Restoration and Second Empire, 1640-1822

   Foreign affairs and empire dominated the restoration era and aftermath, and Portugal again briefly enjoyed greater European power and prestige. The Anglo-Portuguese Alliance was renewed and strengthened in treaties of 1642, 1654, and 1661, and Portugal's independence from Spain was underwritten by English pledges and armed assistance. In a Luso-Spanish treaty of 1668, Spain recognized Portugal's independence. Portugal's alliance with England was a marriage of convenience and necessity between two monarchies with important religious, cultural, and social differences. In return for legal, diplomatic, and trade privileges, as well as the use during war and peace of Portugal's great Lisbon harbor and colonial ports for England's navy, England pledged to protect Portugal and its scattered empire from any attack. The previously cited 17th-century alliance treaties were renewed later in the Treaty of Windsor, signed in London in 1899. On at least 10 different occasions after 1640, and during the next two centuries, England was central in helping prevent or repel foreign invasions of its ally, Portugal.

   Portugal's second empire (1640-1822) was largely Brazil-oriented. Portuguese colonization, exploitation of wealth, and emigration focused on Portuguese America, and imperial revenues came chiefly from Brazil. Between 1670 and 1740, Portugal's royalty and nobility grew wealthier on funds derived from Brazilian gold, diamonds, sugar, tobacco, and other crops, an enterprise supported by the Atlantic slave trade and the supply of African slave labor from West Africa and Angola. Visitors today can see where much of that wealth was invested: Portugal's rich legacy of monumental architecture. Meanwhile, the African slave trade took a toll in Angola and West Africa.

   In continental Portugal, absolutist monarchy dominated politics and government, and there was a struggle for position and power between the monarchy and other institutions, such as the Church and nobility. King José I's chief minister, usually known in history as the marquis of Pombal (ruled 1750-77), sharply suppressed the nobility and the

   Church (including the Inquisition, now a weak institution) and expelled the Jesuits. Pombal also made an effort to reduce economic dependence on England, Portugal's oldest ally. But his successes did not last much beyond his disputed time in office.

   Beginning in the late 18th century, the European-wide impact of the French Revolution and the rise of Napoleon placed Portugal in a vulnerable position. With the monarchy ineffectively led by an insane queen (Maria I) and her indecisive regent son (João VI), Portugal again became the focus of foreign ambition and aggression. With England unable to provide decisive assistance in time, France—with Spain's consent—invaded Portugal in 1807. As Napoleon's army under General Junot entered Lisbon meeting no resistance, Portugal's royal family fled on a British fleet to Brazil, where it remained in exile until 1821. In the meantime, Portugal's overseas empire was again under threat. There was a power vacuum as the monarch was absent, foreign armies were present, and new political notions of liberalism and constitutional monarchy were exciting various groups of citizens.

   Again England came to the rescue, this time in the form of the armies of the duke of Wellington. Three successive French invasions of Portugal were defeated and expelled, and Wellington succeeded in carrying the war against Napoleon across the Portuguese frontier into Spain. The presence of the English army, the new French-born liberal ideas, and the political vacuum combined to create revolutionary conditions. The French invasions and the peninsular wars, where Portuguese armed forces played a key role, marked the beginning of a new era in politics.

   Liberalism and Constitutional Monarchy, 1822-1910

   During 1807-22, foreign invasions, war, and civil strife over conflicting political ideas gravely damaged Portugal's commerce, economy, and novice industry. The next terrible blow was the loss of Brazil in 1822, the jewel in the imperial crown. Portugal's very independence seemed to be at risk. In vain, Portugal sought to resist Brazilian independence by force, but in 1825 it formally acknowledged Brazilian independence by treaty.

   Portugal's slow recovery from the destructive French invasions and the "war of independence" was complicated by civil strife over the form of constitutional monarchy that best suited Portugal. After struggles over these issues between 1820 and 1834, Portugal settled somewhat uncertainly into a moderate constitutional monarchy whose constitution (Charter of 1826) lent it strong political powers to exert a moderating influence between the executive and legislative branches of the government. It also featured a new upper middle class based on land ownership and commerce; a Catholic Church that, although still important, lived with reduced privileges and property; a largely African (third) empire to which Lisbon and Oporto devoted increasing spiritual and material resources, starting with the liberal imperial plans of 1836 and 1851, and continuing with the work of institutions like the Lisbon Society of Geography (established 1875); and a mass of rural peasants whose bonds to the land weakened after 1850 and who began to immigrate in increasing numbers to Brazil and North America.

   Chronic military intervention in national politics began in 19th-century Portugal. Such intervention, usually commencing with coups or pronunciamentos (military revolts), was a shortcut to the spoils of political office and could reflect popular discontent as well as the power of personalities. An early example of this was the 1817 golpe (coup) attempt of General Gomes Freire against British military rule in Portugal before the return of King João VI from Brazil. Except for a more stable period from 1851 to 1880, military intervention in politics, or the threat thereof, became a feature of the constitutional monarchy's political life, and it continued into the First Republic and the subsequent Estado Novo.

   Beginning with the Regeneration period (1851-80), Portugal experienced greater political stability and economic progress. Military intervention in politics virtually ceased; industrialization and construction of railroads, roads, and bridges proceeded; two political parties (Regenerators and Historicals) worked out a system of rotation in power; and leading intellectuals sparked a cultural revival in several fields. In 19th-century literature, there was a new golden age led by such figures as Alexandre Herculano (historian), Eça de Queirós (novelist), Almeida Garrett (playwright and essayist), Antero de Quental (poet), and Joaquim Oliveira Martins (historian and social scientist). In its third overseas empire, Portugal attempted to replace the slave trade and slavery with legitimate economic activities; to reform the administration; and to expand Portuguese holdings beyond coastal footholds deep into the African hinterlands in West, West Central, and East Africa. After 1841, to some extent, and especially after 1870, colonial affairs, combined with intense nationalism, pressures for economic profit in Africa, sentiment for national revival, and the drift of European affairs would make or break Lisbon governments.

   Beginning with the political crisis that arose out of the "English Ultimatum" affair of January 1890, the monarchy became discredtted and identified with the poorly functioning government, political parties splintered, and republicanism found more supporters. Portugal participated in the "Scramble for Africa," expanding its African holdings, but failed to annex territory connecting Angola and Mozambique. A growing foreign debt and state bankruptcy as of the early 1890s damaged the constitutional monarchy's reputation, despite the efforts of King Carlos in diplomacy, the renewal of the alliance in the Windsor Treaty of 1899, and the successful if bloody colonial wars in the empire (1880-97). Republicanism proclaimed that Portugal's weak economy and poor society were due to two historic institutions: the monarchy and the Catholic Church. A republic, its stalwarts claimed, would bring greater individual liberty; efficient, if more decentralized government; and a stronger colonial program while stripping the Church of its role in both society and education.

   As the monarchy lost support and republicans became more aggressive, violence increased in politics. King Carlos I and his heir Luís were murdered in Lisbon by anarchist-republicans on 1 February 1908. Following a military and civil insurrection and fighting between monarchist and republican forces, on 5 October 1910, King Manuel II fled Portugal and a republic was proclaimed.

   First Parliamentary Republic, 1910-26

   Portugal's first attempt at republican government was the most unstable, turbulent parliamentary republic in the history of 20th-century Western Europe. During a little under 16 years of the republic, there were 45 governments, a number of legislatures that did not complete normal terms, military coups, and only one president who completed his four-year term in office. Portuguese society was poorly prepared for this political experiment. Among the deadly legacies of the monarchy were a huge public debt; a largely rural, apolitical, and illiterate peasant population; conflict over the causes of the country's misfortunes; and lack of experience with a pluralist, democratic system.

   The republic had some talented leadership but lacked popular, institutional, and economic support. The 1911 republican constitution established only a limited democracy, as only a small portion of the adult male citizenry was eligible to vote. In a country where the majority was Catholic, the republic passed harshly anticlerical laws, and its institutions and supporters persecuted both the Church and its adherents. During its brief disjointed life, the First Republic drafted important reform plans in economic, social, and educational affairs; actively promoted development in the empire; and pursued a liberal, generous foreign policy. Following British requests for Portugal's assistance in World War I, Portugal entered the war on the Allied side in March 1916 and sent armies to Flanders and Portuguese Africa. Portugal's intervention in that conflict, however, was too costly in many respects, and the ultimate failure of the republic in part may be ascribed to Portugal's World War I activities.

   Unfortunately for the republic, its time coincided with new threats to Portugal's African possessions: World War I, social and political demands from various classes that could not be reconciled, excessive military intervention in politics, and, in particular, the worst economic and financial crisis Portugal had experienced since the 16th and 17th centuries. After the original Portuguese Republican Party (PRP, also known as the "Democrats") splintered into three warring groups in 1912, no true multiparty system emerged. The Democrats, except for only one or two elections, held an iron monopoly of electoral power, and political corruption became a major issue. As extreme right-wing dictatorships elsewhere in Europe began to take power in Italy (1922), neighboring Spain (1923), and Greece (1925), what scant popular support remained for the republic collapsed. Backed by a right-wing coalition of landowners from Alentejo, clergy, Coimbra University faculty and students, Catholic organizations, and big business, career military officers led by General Gomes da Costa executed a coup on 28 May 1926, turned out the last republican government, and established a military government.

   The Estado Novo (New State), 1926-74

   During the military phase (1926-32) of the Estado Novo, professional military officers, largely from the army, governed and administered Portugal and held key cabinet posts, but soon discovered that the military possessed no magic formula that could readily solve the problems inherited from the First Republic. Especially during the years 1926-31, the military dictatorship, even with its political repression of republican activities and institutions (military censorship of the press, political police action, and closure of the republic's rowdy parliament), was characterized by similar weaknesses: personalism and factionalism; military coups and political instability, including civil strife and loss of life; state debt and bankruptcy; and a weak economy. "Barracks parliamentarism" was not an acceptable alternative even to the "Nightmare Republic."

   Led by General Óscar Carmona, who had replaced and sent into exile General Gomes da Costa, the military dictatorship turned to a civilian expert in finance and economics to break the budget impasse and bring coherence to the disorganized system. Appointed minister of finance on 27 April 1928, the Coimbra University Law School professor of economics Antônio de Oliveira Salazar (1889-1970) first reformed finance, helped balance the budget, and then turned to other concerns as he garnered extraordinary governing powers. In 1930, he was appointed interim head of another key ministry (Colonies) and within a few years had become, in effect, a civilian dictator who, with the military hierarchy's support, provided the government with coherence, a program, and a set of policies.

   For nearly 40 years after he was appointed the first civilian prime minister in 1932, Salazar's personality dominated the government. Unlike extreme right-wing dictators elsewhere in Europe, Salazar was directly appointed by the army but was never endorsed by a popular political party, street militia, or voter base. The scholarly, reclusive former Coimbra University professor built up what became known after 1932 as the Estado Novo ("New State"), which at the time of its overthrow by another military coup in 1974, was the longest surviving authoritarian regime in Western Europe. The system of Salazar and the largely academic and technocratic ruling group he gathered in his cabinets was based on the central bureaucracy of the state, which was supported by the president of the republic—always a senior career military officer, General Óscar Carmona (1928-51), General Craveiro Lopes (1951-58), and Admiral Américo Tómaz (1958-74)—and the complicity of various institutions. These included a rubber-stamp legislature called the National Assembly (1935-74) and a political police known under various names: PVDE (1932-45), PIDE (1945-69),

   and DGS (1969-74). Other defenders of the Estado Novo security were paramilitary organizations such as the National Republican Guard (GNR); the Portuguese Legion (PL); and the Portuguese Youth [Movement]. In addition to censorship of the media, theater, and books, there was political repression and a deliberate policy of depoliticization. All political parties except for the approved movement of regime loyalists, the União Nacional or (National Union), were banned.

   The most vigorous and more popular period of the New State was 1932-44, when the basic structures were established. Never monolithic or entirely the work of one person (Salazar), the New State was constructed with the assistance of several dozen top associates who were mainly academics from law schools, some technocrats with specialized skills, and a handful of trusted career military officers. The 1933 Constitution declared Portugal to be a "unitary, corporative Republic," and pressures to restore the monarchy were resisted. Although some of the regime's followers were fascists and pseudofascists, many more were conservative Catholics, integralists, nationalists, and monarchists of different varieties, and even some reactionary republicans. If the New State was authoritarian, it was not totalitarian and, unlike fascism in Benito Mussolini's Italy or Adolf Hitler's Germany, it usually employed the minimum of violence necessary to defeat what remained a largely fractious, incoherent opposition.

   With the tumultuous Second Republic and the subsequent civil war in nearby Spain, the regime felt threatened and reinforced its defenses. During what Salazar rightly perceived as a time of foreign policy crisis for Portugal (1936-45), he assumed control of the Ministry of Foreign Affairs. From there, he pursued four basic foreign policy objectives: supporting the Nationalist rebels of General Francisco Franco in the Spanish Civil War (1936-39) and concluding defense treaties with a triumphant Franco; ensuring that General Franco in an exhausted Spain did not enter World War II on the Axis side; maintaining Portuguese neutrality in World War II with a post-1942 tilt toward the Allies, including granting Britain and the United States use of bases in the Azores Islands; and preserving and protecting Portugal's Atlantic Islands and its extensive, if poor, overseas empire in Africa and Asia.

   During the middle years of the New State (1944-58), many key Salazar associates in government either died or resigned, and there was greater social unrest in the form of unprecedented strikes and clandestine Communist activities, intensified opposition, and new threatening international pressures on Portugal's overseas empire. During the earlier phase of the Cold War (1947-60), Portugal became a steadfast, if weak, member of the US-dominated North Atlantic Treaty Organization alliance and, in 1955, with American support, Portugal joined the United Nations (UN). Colonial affairs remained a central concern of the regime. As of 1939, Portugal was the third largest colonial power in the world and possessed territories in tropical Africa (Angola, Mozambique, Guinea-Bissau, and São Tomé and Príncipe Islands) and the remnants of its 16th-century empire in Asia (Goa, Damão, Diu, East Timor, and Macau). Beginning in the early 1950s, following the independence of India in 1947, Portugal resisted Indian pressures to decolonize Portuguese India and used police forces to discourage internal opposition in its Asian and African colonies.

   The later years of the New State (1958-68) witnessed the aging of the increasingly isolated but feared Salazar and new threats both at home and overseas. Although the regime easily overcame the brief oppositionist threat from rival presidential candidate General Humberto Delgado in the spring of 1958, new developments in the African and Asian empires imperiled the authoritarian system. In February 1961, oppositionists hijacked the Portuguese ocean liner Santa Maria and, in following weeks, African insurgents in northern Angola, although they failed to expel the Portuguese, gained worldwide media attention, discredited the New State, and began the 13-year colonial war. After thwarting a dissident military coup against his continued leadership, Salazar and his ruling group mobilized military repression in Angola and attempted to develop the African colonies at a faster pace in order to ensure Portuguese control. Meanwhile, the other European colonial powers (Britain, France, Belgium, and Spain) rapidly granted political independence to their African territories.

   At the time of Salazar's removal from power in September 1968, following a stroke, Portugal's efforts to maintain control over its colonies appeared to be successful. President Americo Tomás appointed Dr. Marcello Caetano as Salazar's successor as prime minister. While maintaining the New State's basic structures, and continuing the regime's essential colonial policy, Caetano attempted wider reforms in colonial administration and some devolution of power from Lisbon, as well as more freedom of expression in Lisbon. Still, a great deal of the budget was devoted to supporting the wars against the insurgencies in Africa. Meanwhile in Asia, Portuguese India had fallen when the Indian army invaded in December 1961. The loss of Goa was a psychological blow to the leadership of the New State, and of the Asian empire only East Timor and Macau remained.

   The Caetano years (1968-74) were but a hiatus between the waning Salazar era and a new regime. There was greater political freedom and rapid economic growth (5-6 percent annually to late 1973), but Caetano's government was unable to reform the old system thoroughly and refused to consider new methods either at home or in the empire. In the end, regime change came from junior officers of the professional military who organized the Armed Forces Movement (MFA) against the Caetano government. It was this group of several hundred officers, mainly in the army and navy, which engineered a largely bloodless coup in Lisbon on 25 April 1974. Their unexpected action brought down the 48-year-old New State and made possible the eventual establishment and consolidation of democratic governance in Portugal, as well as a reorientation of the country away from the Atlantic toward Europe.

   Revolution of Carnations, 1974-76

   Following successful military operations of the Armed Forces Movement against the Caetano government, Portugal experienced what became known as the "Revolution of Carnations." It so happened that during the rainy week of the military golpe, Lisbon flower shops were featuring carnations, and the revolutionaries and their supporters adopted the red carnation as the common symbol of the event, as well as of the new freedom from dictatorship. The MFA, whose leaders at first were mostly little-known majors and captains, proclaimed a three-fold program of change for the new Portugal: democracy; decolonization of the overseas empire, after ending the colonial wars; and developing a backward economy in the spirit of opportunity and equality. During the first 24 months after the coup, there was civil strife, some anarchy, and a power struggle. With the passing of the Estado Novo, public euphoria burst forth as the new provisional military government proclaimed the freedoms of speech, press, and assembly, and abolished censorship, the political police, the Portuguese Legion, Portuguese Youth, and other New State organizations, including the National Union. Scores of political parties were born and joined the senior political party, the Portuguese Community Party (PCP), and the Socialist Party (PS), founded shortly before the coup.

   Portugal's Revolution of Carnations went through several phases. There was an attempt to take control by radical leftists, including the PCP and its allies. This was thwarted by moderate officers in the army, as well as by the efforts of two political parties: the PS and the Social Democrats (PPD, later PSD). The first phase was from April to September 1974. Provisional president General Antonio Spínola, whose 1974 book Portugal and the Future had helped prepare public opinion for the coup, met irresistible leftist pressures. After Spinola's efforts to avoid rapid decolonization of the African empire failed, he resigned in September 1974. During the second phase, from September 1974 to March 1975, radical military officers gained control, but a coup attempt by General Spínola and his supporters in Lisbon in March 1975 failed and Spínola fled to Spain.

   In the third phase of the Revolution, March-November 1975, a strong leftist reaction followed. Farm workers occupied and "nationalized" 1.1 million hectares of farmland in the Alentejo province, and radical military officers in the provisional government ordered the nationalization of Portuguese banks (foreign banks were exempted), utilities, and major industries, or about 60 percent of the economic system. There were power struggles among various political parties — a total of 50 emerged—and in the streets there was civil strife among labor, military, and law enforcement groups. A constituent assembly, elected on 25 April 1975, in Portugal's first free elections since 1926, drafted a democratic constitution. The Council of the Revolution (CR), briefly a revolutionary military watchdog committee, was entrenched as part of the government under the constitution, until a later revision. During the chaotic year of 1975, about 30 persons were killed in political frays while unstable provisional governments came and went. On 25 November 1975, moderate military forces led by Colonel Ramalho Eanes, who later was twice elected president of the republic (1976 and 1981), defeated radical, leftist military groups' revolutionary conspiracies.

   In the meantime, Portugal's scattered overseas empire experienced a precipitous and unprepared decolonization. One by one, the former colonies were granted and accepted independence—Guinea-Bissau (September 1974), Cape Verde Islands (July 1975), and Mozambique (July 1975). Portugal offered to turn over Macau to the People's Republic of China, but the offer was refused then and later negotiations led to the establishment of a formal decolonization or hand-over date of 1999. But in two former colonies, the process of decolonization had tragic results.

   In Angola, decolonization negotiations were greatly complicated by the fact that there were three rival nationalist movements in a struggle for power. The January 1975 Alvor Agreement signed by Portugal and these three parties was not effectively implemented. A bloody civil war broke out in Angola in the spring of 1975 and, when Portuguese armed forces withdrew and declared that Angola was independent on 11 November 1975, the bloodshed only increased. Meanwhile, most of the white Portuguese settlers from Angola and Mozambique fled during the course of 1975. Together with African refugees, more than 600,000 of these retornados ("returned ones") went by ship and air to Portugal and thousands more to Namibia, South Africa, Brazil, Canada, and the United States.

   The second major decolonization disaster was in Portugal's colony of East Timor in the Indonesian archipelago. Portugal's capacity to supervise and control a peaceful transition to independence in this isolated, neglected colony was limited by the strength of giant Indonesia, distance from Lisbon, and Portugal's revolutionary disorder and inability to defend Timor. In early December 1975, before Portugal granted formal independence and as one party, FRETILIN, unilaterally declared East Timor's independence, Indonesia's armed forces invaded, conquered, and annexed East Timor. Indonesian occupation encountered East Timorese resistance, and a heavy loss of life followed. The East Timor question remained a contentious international issue in the UN, as well as in Lisbon and Jakarta, for more than 20 years following Indonesia's invasion and annexation of the former colony of Portugal. Major changes occurred, beginning in 1998, after Indonesia underwent a political revolution and allowed a referendum in East Timor to decide that territory's political future in August 1999. Most East Timorese chose independence, but Indonesian forces resisted that verdict until

   UN intervention in September 1999. Following UN rule for several years, East Timor attained full independence on 20 May 2002.

   Consolidation of Democracy, 1976-2000

   After several free elections and record voter turnouts between 25 April 1975 and June 1976, civil war was averted and Portugal's second democratic republic began to stabilize. The MFA was dissolved, the military were returned to the barracks, and increasingly elected civilians took over the government of the country. The 1976 Constitution was revised several times beginning in 1982 and 1989, in order to reempha-size the principle of free enterprise in the economy while much of the large, nationalized sector was privatized. In June 1976, General Ram-alho Eanes was elected the first constitutional president of the republic (five-year term), and he appointed socialist leader Dr. Mário Soares as prime minister of the first constitutional government.

   From 1976 to 1985, Portugal's new system featured a weak economy and finances, labor unrest, and administrative and political instability. The difficult consolidation of democratic governance was eased in part by the strong currency and gold reserves inherited from the Estado Novo, but Lisbon seemed unable to cope with high unemployment, new debt, the complex impact of the refugees from Africa, world recession, and the agitation of political parties. Four major parties emerged from the maelstrom of 1974-75, except for the Communist Party, all newly founded. They were, from left to right, the Communists (PCP); the Socialists (PS), who managed to dominate governments and the legislature but not win a majority in the Assembly of the Republic; the Social Democrats (PSD); and the Christian Democrats (CDS). During this period, the annual growth rate was low (l-2 percent), and the nationalized sector of the economy stagnated.

   Enhanced economic growth, greater political stability, and more effective central government as of 1985, and especially 1987, were due to several developments. In 1977, Portugal applied for membership in the European Economic Community (EEC), now the European Union (EU) since 1993. In January 1986, with Spain, Portugal was granted membership, and economic and financial progress in the intervening years has been significantly influenced by the comparatively large investment, loans, technology, advice, and other assistance from the EEC. Low unemployment, high annual growth rates (5 percent), and moderate inflation have also been induced by the new political and administrative stability in Lisbon. Led by Prime Minister Cavaco Silva, an economist who was trained abroad, the PSD's strong organization, management, and electoral support since 1985 have assisted in encouraging economic recovery and development. In 1985, the PSD turned the PS out of office and won the general election, although they did not have an absolute majority of assembly seats. In 1986, Mário Soares was elected president of the republic, the first civilian to hold that office since the First Republic. In the elections of 1987 and 1991, however, the PSD was returned to power with clear majorities of over 50 percent of the vote.

   Although the PSD received 50.4 percent of the vote in the 1991 parliamentary elections and held a 42-seat majority in the Assembly of the Republic, the party began to lose public support following media revelations regarding corruption and complaints about Prime Minister Cavaco Silva's perceived arrogant leadership style. President Mário Soares voiced criticism of the PSD's seemingly untouchable majority and described a "tyranny of the majority." Economic growth slowed down. In the parliamentary elections of 1995 and the presidential election of 1996, the PSD's dominance ended for the time being. Prime Minister Antônio Guterres came to office when the PS won the October 1995 elections, and in the subsequent presidential contest, in January 1996, socialist Jorge Sampaio, the former mayor of Lisbon, was elected president of the republic, thus defeating Cavaco Silva's bid. Young and popular, Guterres moved the PS toward the center of the political spectrum. Under Guterres, the PS won the October 1999 parliamentary elections. The PS defeated the PSD but did not manage to win a clear, working majority of seats, and this made the PS dependent upon alliances with smaller parties, including the PCP.

   In the local elections in December 2001, the PSD's criticism of PS's heavy public spending allowed the PSD to take control of the key cities of Lisbon, Oporto, and Coimbra. Guterres resigned, and parliamentary elections were brought forward from 2004 to March 2002. The PSD won a narrow victory with 40 percent of the votes, and Jose Durão Barroso became prime minister. Having failed to win a majority of the seats in parliament forced the PSD to govern in coalition with the right-wing Popular Party (PP) led by Paulo Portas. Durão Barroso set about reducing government spending by cutting the budgets of local authorities, freezing civil service hiring, and reviving the economy by accelerating privatization of state-owned enterprises. These measures provoked a 24-hour strike by public-sector workers. Durão Barroso reacted with vows to press ahead with budget-cutting measures and imposed a wage freeze on all employees earning more than €1,000, which affected more than one-half of Portugal's work force.

   In June 2004, Durão Barroso was invited by Romano Prodi to succeed him as president of the European Commission. Durão Barroso accepted and resigned the prime ministership in July. Pedro Santana Lopes, the leader of the PSD, became prime minister. Already unpopular at the time of Durão Barroso's resignation, the PSD-led government became increasingly unpopular under Santana Lopes. A month-long delay in the start of the school year and confusion over his plan to cut taxes and raise public-sector salaries, eroded confidence even more. By November, Santana Lopes's government was so unpopular that President Jorge Sampaio was obliged to dissolve parliament and hold new elections, two years ahead of schedule.

   Parliamentary elections were held on 20 February 2005. The PS, which had promised the electorate disciplined and transparent governance, educational reform, the alleviation of poverty, and a boost in employment, won 45 percent of the vote and the majority of the seats in parliament. The leader of the PS, José Sôcrates became prime minister on 12 March 2005. In the regularly scheduled presidential elections held on 6 January 2006, the former leader of the PSD and prime minister, Aníbal Cavaco Silva, won a narrow victory and became president on 9 March 2006. With a mass protest, public teachers' strike, and street demonstrations in March 2008, Portugal's media, educational, and social systems experienced more severe pressures. With the spreading global recession beginning in September 2008, Portugal's economic and financial systems became more troubled.

    Contemporary Portugal

   Owing to its geographic location on the southwestern most edge of continental Europe, Portugal has been historically in but not of Europe. Almost from the beginning of its existence in the 12th century as an independent monarchy, Portugal turned its back on Europe and oriented itself toward the Atlantic Ocean. After carving out a Christian kingdom on the western portion of the Iberian peninsula, Portuguese kings gradually built and maintained a vast seaborne global empire that became central to the way Portugal understood its individuality as a nation-state. While the creation of this empire allows Portugal to claim an unusual number of "firsts" or distinctions in world and Western history, it also retarded Portugal's economic, social, and political development. It can be reasonably argued that the Revolution of 25 April 1974 was the most decisive event in Portugal's long history because it finally ended Portugal's oceanic mission and view of itself as an imperial power. After the 1974 Revolution, Portugal turned away from its global mission and vigorously reoriented itself toward Europe. Contemporary Portugal is now both in and of Europe.

   The turn toward Europe began immediately after 25 April 1974. Portugal granted independence to its African colonies in 1975. It was admitted to the European Council and took the first steps toward accession to the European Economic Community (EEC) in 1976. On 28 March 1977, the Portuguese government officially applied for EEC membership. Because of Portugal's economic and social backwardness, which would require vast sums of EEC money to overcome, negotiations for membership were long and difficult. Finally, a treaty of accession was signed on 12 June 1985. Portugal officially joined the EEC (the European Union [EU] since 1993) on 1 January 1986. Since becoming a full-fledged member of the EU, Portugal has been steadily overcoming the economic and social underdevelopment caused by its imperial past and is becoming more like the rest of Europe.

   Membership in the EU has speeded up the structural transformation of Portugal's economy, which actually began during the Estado Novo. Investments made by the Estado Novo in Portugal's economy began to shift employment out of the agricultural sector, which, in 1950, accounted for 50 percent of Portugal's economically active population. Today, only 10 percent of the economically active population is employed in the agricultural sector (the highest among EU member states); 30 percent in the industrial sector (also the highest among EU member states); and 60 percent in the service sector (the lowest among EU member states). The economically active population numbers about 5,000,000 employed, 56 percent of whom are women. Women workers are the majority of the workforce in the agricultural and service sectors (the highest among the EU member states). The expansion of the service sector has been primarily in health care and education. Portugal has had the lowest unemployment rates among EU member states, with the overall rate never being more than 10 percent of the active population. Since joining the EU, the number of employers increased from 2.6 percent to 5.8 percent of the active population; self-employed from 16 to 19 percent; and employees from 65 to 70 percent. Twenty-six percent of the employers are women. Unemployment tends to hit younger workers in industry and transportation, women employed in domestic service, workers on short-term contracts, and poorly educated workers. Salaried workers earn only 63 percent of the EU average, and hourly workers only one-third to one-half of that earned by their EU counterparts. Despite having had the second highest growth of gross national product (GNP) per inhabitant (after Ireland) among EU member states, the above data suggest that while much has been accomplished in terms of modernizing the Portuguese economy, much remains to be done to bring Portugal's economy up to the level of the "average" EU member state.

   Membership in the EU has also speeded up changes in Portuguese society. Over the last 30 years, coastalization and urbanization have intensified. Fully 50 percent of Portuguese live in the coastal urban conurbations of Lisbon, Oporto, Braga, Aveiro, Coimbra, Viseu, Évora, and Faro. The Portuguese population is one of the oldest among EU member states (17.3 percent are 65 years of age or older) thanks to a considerable increase in life expectancy at birth (77.87 years for the total population, 74.6 years for men, 81.36 years for women) and one of the lowest birthrates (10.59 births/1,000) in Europe. Family size averages 2.8 persons per household, with the strict nuclear family (one or two generations) in which both parents work being typical. Common law marriages, cohabitating couples, and single-parent households are more and more common. The divorce rate has also increased. "Youth Culture" has developed. The young have their own meeting places, leisure-time activities, and nightlife (bars, clubs, and discos).

   All Portuguese citizens, whether they have contributed or not, have a right to an old-age pension, invalidity benefits, widowed persons' pension, as well as payments for disabilities, children, unemployment, and large families. There is a national minimum wage (€385 per month), which is low by EU standards. The rapid aging of Portugal's population has changed the ratio of contributors to pensioners to 1.7, the lowest in the EU. This has created deficits in Portugal's social security fund.

   The adult literacy rate is about 92 percent. Illiteracy is still found among the elderly. Although universal compulsory education up to grade 9 was achieved in 1980, only 21.2 percent of the population aged 25-64 had undergone secondary education, compared to an EU average of 65.7 percent. Portugal's higher education system currently consists of 14 state universities and 14 private universities, 15 state polytechnic institutions, one Catholic university, and one military academy. All in all, Portugal spends a greater percentage of its state budget on education than most EU member states. Despite this high level of expenditure, the troubled Portuguese education system does not perform well. Early leaving and repetition rates are among the highest among EU member states.

   After the Revolution of 25 April 1974, Portugal created a National Health Service, which today consists of 221 hospitals and 512 medical centers employing 33,751 doctors and 41,799 nurses. Like its education system, Portugal's medical system is inefficient. There are long waiting lists for appointments with specialists and for surgical procedures.

   Structural changes in Portugal's economy and society mean that social life in Portugal is not too different from that in other EU member states. A mass consumption society has been created. Televisions, telephones, refrigerators, cars, music equipment, mobile phones, and personal computers are commonplace. Sixty percent of Portuguese households possess at least one automobile, and 65 percent of Portuguese own their own home. Portuguese citizens are more aware of their legal rights than ever before. This has resulted in a trebling of the number of legal proceeding since 1960 and an eight-fold increase in the number of lawyers. In general, Portuguese society has become more permissive and secular; the Catholic Church and the armed forces are much less influential than in the past. Portugal's population is also much more culturally, religiously, and ethnically diverse, a consequence of the coming to Portugal of hundreds of thousands of immigrants, mainly from former African colonies.

   Portuguese are becoming more cosmopolitan and sophisticated through the impact of world media, the Internet, and the World Wide Web. A prime case in point came in the summer and early fall of 1999, with the extraordinary events in East Timor and the massive Portuguese popular responses. An internationally monitored referendum in East Timor, Portugal's former colony in the Indonesian archipelago and under Indonesian occupation from late 1975 to summer 1999, resulted in a vote of 78.5 percent for rejecting integration with Indonesia and for independence. When Indonesian prointegration gangs, aided by the Indonesian military, responded to the referendum with widespread brutality and threatened to reverse the verdict of the referendum, there was a spontaneous popular outpouring of protest in the cities and towns of Portugal. An avalanche of Portuguese e-mail fell on leaders and groups in the UN and in certain countries around the world as Portugal's diplomats, perhaps to compensate for the weak initial response to Indonesian armed aggression in 1975, called for the protection of East Timor as an independent state and for UN intervention to thwart Indonesian action. Using global communications networks, the Portuguese were able to mobilize UN and world public opinion against Indonesian actions and aided the eventual independence of East Timor on 20 May 2002.

   From the Revolution of 25 April 1974 until the 1990s, Portugal had a large number of political parties, one of the largest Communist parties in western Europe, frequent elections, and endemic cabinet instability. Since the 1990s, the number of political parties has been dramatically reduced and cabinet stability increased. Gradually, the Portuguese electorate has concentrated around two larger parties, the right-of-center Social Democrats (PSD) and the left-of-center Socialist (PS). In the 1980s, these two parties together garnered 65 percent of the vote and 70 percent of the seats in parliament. In 2005, these percentages had risen to 74 percent and 85 percent, respectively. In effect, Portugal is currently a two-party dominant system in which the two largest parties — PS and PSD—alternate in and out of power, not unlike the rotation of the two main political parties (the Regenerators and the Historicals) during the last decades (1850s to 1880s) of the liberal constitutional monarchy. As Portugal's democracy has consolidated, turnout rates for the eligible electorate have declined. In the 1970s, turnout was 85 percent. In Portugal's most recent parliamentary election (2005), turnout had fallen to 65 percent of the eligible electorate.

   Portugal has benefited greatly from membership in the EU, and whatever doubts remain about the price paid for membership, no Portuguese government in the near future can afford to sever this connection. The vast majority of Portuguese citizens see membership in the EU as a "good thing" and strongly believe that Portugal has benefited from membership. Only the Communist Party opposed membership because it reduces national sovereignty, serves the interests of capitalists not workers, and suffers from a democratic deficit. Despite the high level of support for the EU, Portuguese voters are increasingly not voting in elections for the European Parliament, however. Turnout for European Parliament elections fell from 40 percent of the eligible electorate in the 1999 elections to 38 percent in the 2004 elections.

   In sum, Portugal's turn toward Europe has done much to overcome its backwardness. However, despite the economic, social, and political progress made since 1986, Portugal has a long way to go before it can claim to be on a par with the level found even in Spain, much less the rest of western Europe. As Portugal struggles to move from underde-velopment, especially in the rural areas away from the coast, it must keep in mind the perils of too rapid modern development, which could damage two of its most precious assets: its scenery and environment. The growth and future prosperity of the economy will depend on the degree to which the government and the private sector will remain stewards of clean air, soil, water, and other finite resources on which the tourism industry depends and on which Portugal's world image as a unique place to visit rests. Currently, Portugal is investing heavily in renewable energy from solar, wind, and wave power in order to account for about 50 percent of its electricity needs by 2010. Portugal opened the world's largest solar power plant and the world's first commercial wave power farm in 2006.

   An American documentary film on Portugal produced in the 1970s described this little country as having "a Past in Search of a Future." In the years after the Revolution of 25 April 1974, it could be said that Portugal is now living in "a Present in Search of a Future." Increasingly, that future lies in Europe as an active and productive member of the EU.

1) эк. рынок; базар (специальное место, где осуществляется торговля)

2) эк. рынок (совокупность продавцов и покупателей какого-л. товара)

3)

а) эк. спрос; объем спроса, размер рынка (наличие желающих купить товар; часто используется как характеристика определенной территории)

б) эк. потребители

в) марк. рынок сбыта ( географический район)

г) марк. = market segment

4) эк. конъюнктура, уровень цен, состояние рынка (состояние рынка в значении 2, с точки зрения активности продавцов и покупателей и соответствующей динамики изменения цен)

5) эк., амер. розничный магазин (обычно специализированный, напр., мясной, рыбный)

6) эк., пол. рынок (принцип устройства экономической системы, предусматривающий свободное формирование цен под воздействием спроса и предложения)

7) межд. эк. рынок (экономический союз нескольких стран, в основе которого лежит создание единого торгового пространства для товаров, услуг и факторов производства)

1) эк. продавать, реализовывать, распространять

2) марк. осуществлять маркетинг, позиционировать, продвигать

1) эк. рыночный

а) ( соответствующий рыночным принципам)

б) ( характерный для данного рынка или действующий на данном рынке)

в) ( имеющий отношение к рынку)

2) эк. товарный, рыночный ( предназначенный для продажи на рынке)

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1) Общая лексика: hum. сокр. Nuclear Magnetic Resonance

2) Спорт: No Moves Received

3) Военный термин: national military representative, national missile range

4) Техника: naval missile range, normal-mode rejection

5) Шутливое выражение: No More Radiologists

6) Химия: Non Monotonic Reasoning

7) Сокращение: National Military Representative to SHAPE (NATO), No Mail Receptacle (return to sender), nubile marriage rate

8) Электроника: Noise Masking Ratio, Normal Mode Rejection

9) Нефть: Nuclear Magnetic Resonance Logging

10) Геофизика: ЯМР, ядерно-магнитный резонанс

11) Парфюмерия: ядерный магнитный резонанс