Word: 1990s
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Dates: during 1990-1999
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...fishermen around the world soon start hauling back empty nets and fishing lines, it will not be for lack of warning. In the 1990s, after increasing for nearly four decades, the wild catch of marine fish leveled off worldwide and in some years actually declined. "We are reaching, and in many cases have exceeded, the oceans' limits," declare the authors of a sobering report released by the Natural Resources Defense Council earlier this year. "We are no longer living off the income but eating deeply into the capital...
...prides itself on being a model of participatory democracy. But according to a new study, America lags behind much of the world when it comes to casting ballots. An average of just 44.1% of the voting-age population has turned out for national legislative elections in the 1990s, putting the U.S. in 139th place among 163 countries surveyed by the International Institute for Democracy and Electoral Assistance. The top-ranked nation? Malta, with a turnout of 96.2%. Here's how some other democracies stack...
ECONOMIC BACKDROP Even veteran economists are rubbing their eyes in disbelief at how well the U.S. economy has behaved this decade. For years policymakers couldn't figure out how to reduce joblessness without flaring inflation. The 1990s finally revealed the secret: end the cold war; slash military spending. Pare annual federal budget deficits. Have a central-bank chairman who can deftly apply the monetary brakes to hold inflation down without killing the expansion. Voila! The healthiest economy in recent memory...
WHAT WILL KILL THE BOOM Perhaps another oil shock. But the economy is in its seventh year of expansion--better than the 1950s and the Roaring Twenties. And this expansion should last out the 1990s, which would set a record for duration...
WHAT KILLED THE BOOM Wildly rich, Japanese investors splurged on stocks and drove real estate prices skyward. The speculative bubble in the financial markets and real estate popped loudly in the early 1990s and took the economy down with it. Other competitors closed the productivity gap. Now lifetime employment may be a thing of the past...