Word: consumerized
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Dear Mary, Really enjoyed my visit, and it was great to see you settled in your new job. Since the cruise business has slacked off a bit lately, I wouldn't mind getting back into journalism myself. I still can't quite see you fitting in at that seedy tabloid...
Early on, Deng's government began revising this system too. In 1979 it halted a Stalin-style Five-Year Plan that emphasized heavy industry, like steel mills, and redirected much investment into consumer goods: refrigerators, washing machines, TV sets. Some of the controls have been progressively loosened. In 1982 Peking...
Unveiled in 1968, the New Economic Mechanism gradually gave factory managers limited freedom from the tyrannies of rigid central planning. Among other things, they could make more decisions about production quotas without the approval of state authorities. Small-scale entrepreneurs were al lowed to open everything from private bakeries to...
The economy began to pick up in the latter half of 1985, buoyed by heavy consumer spending. Outstanding installment credit jumped 15%, to a record $530 billion. Shopper confidence was partly the result of good news in the job market. Unemployment inched downward from 7.3% in January to 7% in...
The writer of a major TIME story rarely works in the field, relying instead on the magazine's network of correspondents and reporter-researchers. For this week's story on People Express and the deregulated airline industry, however, Associate Editor Charles Alexander decided to do things differently. "I usually write...