Word: boom
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Dates: during 1970-1979
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These woes climax an unusual period in which the world's major economies have been moving in concert on a wild roller-coaster course. First, in 1972, all the leading economies swung into a boom at the same time-a boom that, combined with poor harvests and price gouging later by the Organization of Petroleum Exporting Countries, aggravated global inflation. By early 1974, price increases in the OECD nations reached an unsustainable compound annual rate of 16.8%. Then, as one government after another moved to curb inflation by dampening demand, all the key economies rapidly tumbled into recession...
MANUEL FRAGA IRIBARNE, 53, Ambassador to Britain, a major architect of Spain's tourist boom in the 1960s and head of a recently formed center-rightist political movement...
...draped from the waist. The smaller the bag, the tinier the tag. One of ten models designed by Manhattan's Shirl Miller, a simple vinyl bagatelle retailing for $8, has sold more than 1 million. Other designs in more elegant materials can cost upwards of $100. The boom in bags has puzzled its beneficiaries. Says Bloomingdale's Fashion Director Janina Willner: "Sales have been phenomenal, and price seems to be no object. Honestly, I don't quite understand it because, you know, you can't put too much into...
...Leahy, associate dean of the Faculty for resources and planning, estimates that "a surprisingly high number" of them are taking advantage of the over 50 consulting firms in Cambridge to supplement their academic salaries. And executives of these companies confirm that Harvard professors are regularly taking advantage of the boom in their business...
...holiday, duty-free equipment imports, easy credit terms and attractive plant sites as incentives to set up shop in Spain's capital-starved provinces. Some 70 companies moved into the city of Valladolid within four years, bringing $75 million in investments and 8,200 new jobs. Similar boom towns sprang up throughout Spain. Tourism flourished beyond the technocrats' wildest imaginings when Spam's stern moral codes were relaxed to permit bikinis on beaches where 15 years before men had been arrested for not wearing tops. Sleepy fishing hamlets on Spain's southern coast were suddenly flanked...