Word: dollarization
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Dates: during 1980-1989
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Economists are divided over the future course of the U.S. currency. Most insist that the dollar is unlikely to fall much any time soon. Data Resources' Eckstein expects the dollar to drop at an annual rate of 3% to 4% over the next several years. "Those are small changes," he says. But a few economists predict that the U.S. currency could fall just as rapidly as it has risen. Stephen Maris, former chief economic adviser to the Organization for Economic Cooperation and Development in Paris, warns that when the dollar does drop, it may come crashing down. He believes...
...foreign-exchange value of the dollar is more than a narrow concern for economists and speculators. The dollar links U.S. economic policies to individuals as varied as Brazilian coffee growers, German steelmakers and American car buyers. A strong American currency is important for the U.S. and for the world. But today's overvalued dollar is almost as bad as the undervalued one of the late '70s. Moreover, the dollar's wild swings during the past four years point up an underlying weakness of the international monetary system.-By John Greenwald...
...placid event, a similar proposal has inspired a legislative row and given President Ronald Reagan an annoying political problem. As 13,000 government financial officials and international bankers gathered in Washington last week for the joint annual meeting of the IMF and the World Bank, the problem of the dollar and U.S. interest rates shared equal billing with another pressing concern: the deadlock over funds...
...office. In one day in July, he held press conferences in three different cities. Then he talked to the California Round Table, a group of 88 chief executive officers already concerned about educational reform. The Governor began to get letters. "Dear George," wrote J.R. Fluor, head of a multibillion-dollar engineering and construction firm, "I am urging you to reconsider the position you took during your campaign-a position which we all admired at the time-and relent just a bit so that sufficient revenues can be raised to ensure the reform and then the financial support so necessary...
...threshold of seriousness"-one half hour of computer use a day per child-would require at least another 3 million machines. Estimated cost: $4.5 billion. And if sufficient equipment were made available, the schools would still face a costlier problem: teacher training. As a rule of thumb, each dollar spent on computers requires two more dollars to teach the teachers how to use them. "If you don't change the preparation of the teachers," says Tucker, "putting a lot of computers into our schools would be an appalling waste of money...