Word: 1990s
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Dates: during 2000-2009
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...Turning Poland into a market economy, however, was a more complex and painful process than anyone could have imagined. In the early 1990s, the Polish government attempted to use “shock therapy” programs—championed by Jeffrey Sachs and other Western experts—to jumpstart the economy. This resulted in high inflation and unemployment for years. The Polish economy eventually revived, but the intervening years were painful for most of the country. Solidarity, which had championed shock therapy, soon paid the political price for backing the unpopular economic platform...
...person Justice Department that was treated at times like a private law firm by the Bush Administration, both in its novel interpretation of the law and in the way it purged employees who did not share its political views. Returning to the department he helped run in the late 1990s, Holder invited all employees to his grand fifth-floor office to introduce themselves. "It's good to be back," he said in remarks sent around the building...
After the emerging-market currency collapses of the late 1990s, in which IMF aid wasn't much help, the lesson that emerging economies such as China and India took was that they needed to build up gigantic reserves of U.S. dollars to protect their currencies. To build those reserves, they ran big trade surpluses, which were in turn enabled mainly by record trade deficits in the U.S., which were in turn enabled by massive borrowing from around the world. It was an extremely unbalanced financial ballet, and it has now come crashing to the ground...
...both his Pentagon experience and his academic credentials as key assets he will bring to the job. Former deputy secretary of defense John P. White—who is now a lecturer at the Kennedy School—met Carter during their White House years in the mid-1990s, and expressed his enthusiasm for the pick in an interview yesterday. White explained that the Department of Defense needs someone in the top acquisition post who not only understands how to drive the policies that guide the nation’s acquisition capabilities, but also possesses the “strong...
Royal is also harsh with Martine Aubry, the former Labor Minister under whom Royal served as Secretary of State in the late 1990s. Aubry narrowly beat Royal for the party leadership last November. "Despite the primary, the presidential election and a more than honorable score, I'm still her junior minister, and [Aubry] will never see me otherwise," Royal contends, adding that her rival also served as a proxy for male Socialist elephants to deny Royal the party leadership. "They found a woman to battle another woman on the logic we'd beat each other bloody, and they could step...