Word: dollarization
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Dates: during 1980-1989
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...class of 1983 founded the Endowment for Divestiture because we wanted to provide our classmates with the opportunity to contribute to a university, which had abandoned its policy of profiting from racism. Therefore, we stipulated that every dollar contributed to the Endowment for Divestiture would be given to Harvard when it divested from its holdings in companies operating in South Africa. The Endowment for Divestiture allows us to express our commitment to Harvard by demonstrating the depth of our belief in the very values of justice and human rights, which have formed the bedrock of our undergraduate education. A contribution...
...that threatens to destroy the city's diverse social fabric threeatents to destroy the city's diverse social fabric. They worry that uncheeked development will replace a Cambridge made up of construction workers and professors, the wealthy on Brattle Street and the ethnic neighborhoods to the east with while dollar professionals attached to the universities and high-tech firms. Only more affordable housing they say, can keep low, and moderate income people in the city...
...requests sharply before presenting them to Congress. Consequently, the man once known as Cap the Knife (when he was President Nixon's Budget Director) has become the target of congressional budget cutters. After a meeting last week at which Republican Senators could not get the Secretary to yield a dollar, Mark Hatfield of Oregon termed Weinberger "a draft dodger" in the war against deficits...
...deficit. The high real interest rates caused by the budget deficit are also the direct source of the overwhelming trade deficit now hurting American exporters and those U.S. firms competing with imports. The rates have attracted funds to the U.S. from around the world, and the increased demand for dollars has raised the dollar's value by more than 60% since...
...year the capital inflow will be enough to offset half of the Government's borrowing. But the current level of capital inflow cannot be sustained. Foreign assets in the U.S. have increased 50% since 1980. Even if U.S. interest rates remain high, foreign investors will eventually become saturated with dollar securities. When the inflow of funds shrinks or stops, investment in the U.S. will decline, and real interest rates here will rise even higher--unless Government borrowing has by then been brought under control...