Word: 80s
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Dates: during 1980-1989
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...recent scandals on Wall Street seem to have influenced the children of the '80s, as Harvard students proved this term that ethics reigns over economics...
...80s, as in the '20s, the distribution of income has tended to wind up unevenly slanted toward the rich. In 1929 1% of U.S. families held 36.3% of the wealth; the proportion fell as low as 20.8% in 1949 but rose back to 34.3% by 1983, Economist Batra notes in The Great Depression of 1990. That disparity is dangerous, he contends, because banks with idle money are tempted to make shaky loans to financially strapped customers, while the rich tend to make increasingly risky investments in search of ever larger returns...
...government has reached staggering heights. The current total is approaching $8 trillion, or almost twice the country's gross national product. "The increase of real debt ((adjusted for inflation)) occurred at about the same pace as real GNP growth during the '50s, '60s and '70s. But in the '80s it has occurred at double the rate," notes W. Van Bussman, a corporate economist for Chrysler. The current levels of debt might be supportable if good times went on forever. But during a recession the cascade of defaults would aggravate an economic downturn...
...sudden prominence of yuppies in prime time can be traced at least partly to the success of L.A. Law, NBC's classy drama series set in a Los Angeles law firm. Never mind the courtroom theatrics; this is a show about attractive young professionals grappling with '80s problems: managing relationships, balancing a career and personal life, reconciling ideals with the demands of the real world. Another influence has been the advent of people meters, the new ratings technology that is expected to mean higher ratings for shows watched by younger, upscale viewers. Most important may be the fact that...
...understand this instinctively, which is why Don Johnson and Philip Michael Thomas do not star in a show called Toronto Vice. Canada's rising cosmopolis may suggest a bright promise of public responsibility and efficiency, but it is Miami whose hard-edged pastels define the pitiless sensuality of the '80s...