Word: dollarization
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Dates: during 1980-1989
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...report presented to government officials earlier this week. Warburg Professor of Economics Otto Eckstein blamed American industrial woes on the high cost of capital and the strength of the U.S. dollar...
...high exchange rate on the dollar has compounded the problem, making it easier for foreign imports to under well American products at home and more difficult for U.S. manufacturers to compete abroad, he said...
...Disney and Universal studios in 1976 against the Sony Corp., makers of Betamax videocassette recorders (VCRS), for enabling home viewers to record movies and TV shows without paying a royalty. In 1981 a federal appeals court in California decided in favor of the studios. Since then the billion-dollar VCR industry, as well as millions of consumers, has been in a state of legal limbo. Last year the Supreme Court took the unusual step of holding the case over until this year and went so far as to request rearguments...
...sooner had the court spoken than the predictable outcry was raised by Jack Valenti, president of the Motion Picture Association of America, who has spearheaded the entertainment industry's million-dollar lobbying campaign against unrestricted videotaping. Valenti questioned whether the "copyright is real or whether it is mush," and insisted that "the future of creative entertainment of the American family is what's at stake here." Producer Irwin Winkler (Rocky III, The Right Stuff) was being only slightly sarcastic when he said: "Creative people have to eat. With this decision they will make less income. They...
...ugly tide of black oil fouled the white beaches around Santa Barbara, Calif., in 1969, killing untold numbers of birds, seals and fish, few people were more appalled than William Clark. A top aide to then California Governor Ronald Reagan, Clark closely watched the progress of the multimillion-dollar cleanup that followed the oil-rig blowout, one of the worst environmental disasters in U.S. history. Today, as successor to the divisive James Watt in the post of Secretary of the Interior, Clark likes to recall that calamitous experience to let environmentalists know that he shares their concerns about the dangers...