Word: crunch
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Dates: during 1990-1999
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...sure, many respected economists flatly deny that any capital crunch is looming. Robert Eisner of Northwestern University argues that economic growth around the world will raise people's incomes and thereby provide the savings to finance new investments without jacking up interest rates. "Greater output means greater income, and that means greater savings," he says...
...comes to the crunch, people will be understanding and compassionate. They will look for excuses: a troubled childhood, uncontrollable rage, the pressures of his high-powered winner's life. They will stress his remorse. They will point to his orphaned children. They will say the whole thing's a complex tragedy. They will argue for mercy. They will, in short, become liberals -- at least for this one case...
...Crunch...
There is no single explanation for the Ph.D. job crunch...
Until most institutions make their final provisions for retirement incentive programs--provisions Harvard itself has still not finalized--the current academic job crunch will continue...