Word: boom
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Dates: during 1990-1999
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Robert Gordon, who occupies the prestigious Stanley G. Harris chair of economics at Northwestern University, thinks profits may be hit even harder, though he offers no numbers. His explanation: labor shortages caused by the past boom are still severe and likely to remain so even with a slowdown in the growth of output. That condition will push up wages faster than companies will be able to raise either prices or productivity--that is, output per hour. Productivity is in fact already sliding, as it usually does at this late stage of a business expansion, the increasing computerization of the economy...
WHAT ECONOMIC BOOM...
...sick to death of people talking about the "boom" in the U.S. economy over the past few years [SPECIAL REPORT, Sept. 14]. What boom? There hasn't been one, except maybe for the CEOs of companies that have downsized or gone to Mexico and reaped the profits. I am the disabled wife of a man who lost his job at Rockwell in the first wave of layoffs in 1990, and I have watched him go through a series of low-paying temp jobs ever since, his morale getting lower and lower. Washington, are you listening? KAREN SEXTON Orange, Calif...
Chile's new wine boom has been sparked by an upsurge in boutique vineyards like Santa Laura. Unlike many traditional Chilean winemakers, the Hartwig family, which runs the winery, disdains exaggerated harvests that compromise grape quality and makes earnest use of stainless-steel vat technology. The Hartwigs also take more care than is usual in Chile to master their terroir--making soil, climate and grape work in richer harmony. Similar attention is being paid in other newer wineries like MontGras, Carmen and Veramonte, which is bottling Chile's hot new grape, a Merlot cousin called Camenere...
...With relentless self-promotion, Clinton has managed to put his face on this surplus, as well as on the economic boom," says TIME deputy Washington bureau chief Jef McAllister. "Despite what Republicans say, he'll probably get the credit." Early reports from the Hill also suggest that the face-off between Republican proposals for a broad income-tax cut and Clinton's mantra of "save Social Security first" is tipping in the President's favor. "If we squander this surplus," Clinton said Wednesday, "what are we going to do when times get tough?" Just keep talking about the economy, stupid...