Word: 1980s
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Those who remember Duran Duran usually remember the hair, frosted to 1980s-excess perfection. Or maybe the videos, replete with scantily-clad, poorly-fed European models. Of course, there were also the hits: “Hungry Like the Wolf,” “Girls on Film,” and “Rio.” For the last decade, however, most conversational references made to Duran Duran have been ironic and anachronistic. The band’s been branded as a Live-Aid relic, the forgotten child of the first MTV audience. Those mantles...
Worrywarts have been saying such things since the mid-1980s without much to show for it. But something changed after 2001, when what had been a long and in retrospect moderate rise in indebtedness exploded into a spectacular binge in mortgage and home-equity lending. It started with super-low interest rates that kept consumer spending rising even as the tech boom of the late 1990s collapsed. But before long, the mortgage boom took on a life of its own, with ever bigger and weirder loans handed out to people who would be able to pay them back only...
...fallacies of the principal myth peddled by the free-market fundamentalists demonstrates their dogmatism. In contrast to their conviction that markets freed from state meddling have engineered record growth, we see that the 1980s and 1990s, both decades of especially unfettered capitalism, were the second-slowest and slowest periods of real global growth since World War II, respectively (3.3 percent in the 1980s and 2.3 percent in the 1990s versus 4.9 percent from 1950-1973). In the same vein, the economist Branko Milanovic has argued that “the record of the last two decades (1978-1998) is shown...
...last two decades have not given the people of Afghanistan much to smile about. Since being invaded by the crumbling Soviet Union in the 1980s, the nation has seen the collapse of a puppet communist government, the ravaging of its lands by militant groups called mujahideen, and the rise of the Taliban, one of the most notorious regimes in recent memory. A beacon of light following years of darkness, the US-led invasion in the wake of Sept. 11 failed to bring peace to the blood-stained country, serving only to reinstall some of the same vicious mujahideen that tore...
...region. In Bolivia and Ecuador, left-wing Presidents and Chvez allies Evo Morales and Rafael Correa are hammering out new Constitutions that would let them run for re-election indefinitely. In Nicaragua, President Daniel Ortega, hoping to relive the broad Marxist powers he enjoyed as President in the 1980s, is ruling virtually by decree. In Argentina, many suspect that the leftist husband-and-wife team of outgoing President Nestor Kirchner and President-elect Cristina Fernndez de Kirchner intend to alternate in the Casa Rosada (the Pink House, or presidential palace) well into the next decade if not beyond...