Word: dollarization
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Dates: during 1980-1989
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...three-and-a-half year, $16 million dollar project was a unique effort between Harvard and Hines Industrial to develop a piece of land long considered controversial in the community...
...violated by the establishment of the fund, as it would be used to fight apartheid. Wrong. The purpose of the $1 million fund is not to wield economic or political power but to support educational and individual efforts. This is clearly different from using Harvard's multi-billion dollar endowment as a political bludgeoning device. Bok has never stated that Harvard cannot allow educational objectives to filter outside the University's gates. Bok has always claimed that supplying education to those in need is not only an option, but an implicit obligation of a modern university. Far from contradicting earlier...
...minority of schools which are financially fortunate enough that they can be discriminating; they can afford to refuse to conduct any research which is classified by the government or otherwise kept from free dissemination. These institutions realize that learning and secrecy cannot be reconciled irrespective of the (frequently substantial) dollar payoff of government contracts...
...predicting moderately faster growth for the second half of 1985, board members counted on a continued downward drift in the foreign exchange value of the U.S. dollar. The sky-high price of the dollar has been the chief cause of the trade deficit, because it has made American exports expensive and goods from abroad alluringly cheap. A weakening of the dollar would slow down the pace of imports and thus encourage consumption of domestic goods. Although the dollar has risen a bit in recent weeks, it now stands some 9% lower against major foreign currencies than it did when...
While a falling dollar could boost U.S. inflation by raising import prices, the economists were confident that any increases will remain mild. They noted that labor costs, which make up some 65% of the retail value of most products, are continuing to rise at a modest pace. Raw material prices are also stable. The Labor Department reported last week that in August the Producer Price Index fell .3%, the sharpest decline in more than two years. Said Greenspan: "Overall, there is just no evidence of any acceleration of inflation...