Word: 1980s
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Dates: during 1990-1999
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...hardly news that Forbes is an apostle of supply-side economics, whose creed of tax cuts above all was discredited by the huge deficits of the 1980s. Nor is it a surprise that in a business magazine, taxes and prices would be popular topics. What's striking is the sheer intensity of Forbes' obsession. Since 1988, Forbes has written at least 65 pieces that urge tax cuts, moan about taxes here and abroad, look back with anger on tax hikes past or hail great tax cuts and cutters of yesteryear. No fewer than 45 columns, meanwhile, give lectures...
...notion that tying the dollar to gold is needed to keep inflation low is simply false, mainstream economists say, and makes Forbes' passion almost inexplicable. Ever since Fed chairman Paul Volcker, whom Forbes calls an "obtuse man," wrung double-digit inflation out of the economy in the early 1980s, yearly price increases have averaged 3% to 3.5%. Yet despite this climate, Forbes called on the Treasury Department last year to issue bonds that were indexed to inflation to eliminate this unacceptable risk to principal...
...past, the sudden creation of large fortunes was accompanied by great resentment on the part of the public, and great ostentation on the part of the new rich, which only made matters worse. Just think of the Gilded Age, or the 1920s, or--horrors!--the 1980s. This time things are different. When they work right, IPOs reward the people capitalism is supposed to reward--dynamic entrepreneurs, not rapacious monopolists or financial card-sharks. Among high-tech firms, the beneficiaries usually include employees far down in the hierarchy, who were granted stock options, often because the companies couldn't afford high...
...worldwide traffic in stolen and counterfeit cards costs issuers of plastic $1.6 billion a year in phony charges, according to the Nilson Report, a credit-card industry newsletter. Nigeria has produced so many credit-card bandits that the U.S. Secret Service joined with other federal agencies in the 1980s to form a special West African Task Force that helped nab Adekanbi. According to authorities, his gang used counterfeit cards to obtain at least $650,000 in goods and cash advances and had access to lines of credit worth $8 million. Officials suspect that this loot is only a fraction...
...change in Cornell's play has to do with its new coach, Mike Schafer. A rugged player for the Big Red during the mid-1980s, Schafer has instilled a new mentality with his team...