Word: boom
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Dates: during 2000-2009
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...maharajahs and nawabs of India's princely states - well into the 20th century. After independence in 1947, the country's few industrialist families became the most important collectors, but the field remained as insular as their privately held companies. Over the past 10 years, India's economic boom created a new class of affluent, salaried professionals, particularly in technology companies. "The collector base has really increased," says Himanshu Verma, a curator and art consultant in New Delhi. "There are more corporate executives with greater disposable income...
...even as the downturn forced Labour to dump its tarnished rule to start spending like Paris Hilton on a shopping spree, it revealed weaknesses in Labour's orthodoxy about wealth creation as the means to social justice. After years of boom, the gap between rich and poor in Britain has actually widened, while higher earners face swingeing future taxes to plug a widening deficit. And some of the things Brown does not do so well are the things that have made him vulnerable to leadership challenges. A serious man, a well-meaning man, he's a hopeless communicator...
After that boom came to a crashing end in 1929 and the market continued to implode in 1930, '31 and '32, this theoretical underpinning at first seemed to have been demolished. The idea that stocks could be good investments became a joke and remained that--in the popular view, at least--for decades. Yet whenever anyone in later years re-examined the data on stocks' long-run performance--major scholarly studies on the topic were published in 1938, '53, '64 and '76--they reached the same conclusion Smith did. Even with the dire experience of the early 1930s factored...
...interesting aspect of the Iranian case is not just that the mullahs have demonstrated that they no longer place any store on allowing the election of a reform-minded President to satisfy popular discontent. It is that the Chinese option is not open to them. China's long boom has been dependent on its growing integration into the global economy. But so long as Iran maintains its nuclear ambitions, it will always be subject to sanctions from the most developed economies, principally that of the U.S. Without easy access to markets in the outside world, for both imports and exports...
...Tajik population of 7 million is migrant labor. Remittances sent home comprise some 40% of the country's total GDP, according to UN figures, and account for only slightly less in Uzbekistan and Kyrgyzstan. Now, with the collapse of the Russian economy and the drying up of its construction boom, tens of thousands are returning to rugged homelands that offer few opportunities and to families that depended on their labor abroad. Observers in Tajikistan tell of depressed village after village where groups of unemployed men amble around. The situation "is a potential time bomb," says the International Crisis Group...