Word: boom
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Dates: during 1980-1989
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...boom, however, did not extend to the cities, where most of the large but inefficient state-owned industries are located. At a party meeting last October, the delegates approved a Deng-inspired resolution detailing an ambitious package of reforms aimed at reinvigorating the urban economy and giving industrial workers some incentives. The program called for virtual autonomy for state-owned enterprises, the levying of corporate-type taxes and a radical cutback in central planning. Most important, the plan looked toward price reforms on goods subsidized by the state. Deng envisioned removing the subsidies, which account for nearly half...
Nevertheless, Americans need time to imagine themselves and their possibilities again. Philippe Lefournier, executive editor of the French financial fortnightly L'Expansion, returned from a recent trip to the U.S. with this summary: "A capital boom that is proportionately as immense as it was when the railroads were laid across the West in the 19th century. A capacity for discovery and innovation in technology that is leaving Japan in the dust. A wellspring of visceral dynamism so enduring that it somehow goes beyond the psychological. The U.S. is a new country. It's the new New World...
...young urban professionals are coming into their own. They are part of the famous baby-boom generation that is destined to be a cultural force at every stage of its life. The boomers gave the '60s much of its character, and now are doing the same thing in the '80s. In the meantime, of course, they have changed. Says Gordon Rayfield, 34, a New Yorker who is a foreign-affairs analyst for a multinational firm: "In the '60s, we felt like this wasn't our country. It was taken over by bad people. Now we realize that...
...Administration's attempts to get everyone into lockstep also extend to the Federal Reserve Board. Regan last week blamed Chairman Paul Volcker's tight-money policy for slower economic growth. Though retail sales appear strong, Regan lashed out at the Fed for preventing a year-end shopping boom. "This is not a great Christmas," contended Regan, "and the reason is that people just aren't spending because the credit terms are so high." Regan said that a study was under way about how to get the independent Fed under some form of Administration control...
...they ever got along without them. Overnight delivery is also an exploding, $5 billion-a-year business. One of the fly-by-night companies, Emery Air Freight, ships Cabbage Patch Kids for Coleco, couture dresses for Bloomingdale's and personal computers for IBM. During the Christmas season, the boom time for shippers, Federal Express will carry almost 500,000 parcels daily. Last week the company said it shipped some 7.9 million items during November, up more than 50% from a year...