Word: 1970s
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Dates: during 2000-2009
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...economists looked at companies with fewer than 50 employees, and those with more than 1,000, going back to the 1970s-a period that spanned four business cycles. They found that the bigger firms, after adjusting for their larger share of the workforce, account for a greater slice of job destruction during and after recessions-whether through layoffs or simply not hiring workers they would have otherwise. Immediately coming out of a recession, smaller companies were an unusually important source of new job growth, but once economic expansion really took hold, large companies resumed the role of job-creator, added...
...piece is beyond factual defense. The problem is not that he opposes policies to fight climate change. The problem is that, again and again, the piece makes factual statements that are plainly false. Will states that there was a “global cooling” consensus in the 1970s; there was not. Will asserts that there has been no global warming in the past 10 years, citing the World Meteorological Organization; the WMO actually says that the world has been warming since 1998. Will claims that the University of Illinois’s Arctic Climate Research Center has said...
...thing that all financial calamities have in common is that they are unexpected, at least by the officials who are supposed to keep an eye out for these things. There were no plans for oil prices to spike up before the Arab Oil Embargo in the 1970s and no roadmap to follow after the S&L crisis the following decade. Banks can be brought down by fraud and errors in large gambles made on proprietary trading desks. Most of the things that cause systemic failure are unexpected and therefore cannot be prevented...
Look under the hood of a bond called Jupiter High-Grade CDO V, and you can understand why we're in trouble. Bankers from the 1970s, when mortgage bonds first took off, would hardly recognize Jupiter. Unlike a traditional bond, Jupiter's underwriter does not buy people's mortgages, collect the payments and pass them on to its investors. Instead, Jupiter holds other mortgage bonds--and not just any. Jupiter's investments are made up of the riskiest portions of other bonds, some of which are themselves a collection of other poorly rated mortgage bonds. In a rising real estate...
...could misuse their broadcast licenses to set a biased public agenda. The Fairness Doctrine, which mandated that broadcast networks devote time to contrasting views on issues of public importance, was meant to level the playing field. Congress backed the policy in 1954, and by the 1970s the FCC called the doctrine the "single most important requirement of operation in the public interest - the sine qua non for grant of a renewal of license." (See 25 people to blame for the financial crisis...