Word: dollarization
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Dates: during 1980-1989
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...same time, however, federal borrowing has kept interest rates unusually high, weakened business investment and driven the value of the dollar to a level that has undermined the competitiveness of U.S. exports. While the economy seems much healthier in the short run, the budget gap may be causing long-term damage that will be difficult to undo. Observed Charles Schultze, a senior fellow at the Brookings Institution in Washington: "We could have a recovery for some period of time fueled by consumption and Government spending but with sluggish investment and exports. That is a miserable kind of recovery...
...jobs: There are both long-and short-term effects here. In the long run, more jobs are created per dollar spent by any activity other than high-tech defense work. This type of conversion to non-defense work is an integral part of the legislation, which orders the preparation of a plan to convert effected facilities by the October 1, 1985 deadline. Yet Draper may decide to move even with such help. What about jobs then...
NASA listed only 27 minor hitches or anomalies during the eighth mission of its Space Transportation System. Among them was a leaky valve in the shuttle's million-dollar space toilet, a source of trouble on four previous flights. In addition, solar panels on India's Insat-1B, a $45 million communications satellite released by Challenger, failed to open all the way, threatening to render the satellite as useless as Insat-1A, launched last year, which also developed panel problems. Still, said Mission Evaluation Manager Joseph E. Mechelay, "none of these things should affect STS-9." That flight...
Racing for the America's Cup is no cheap thrill. When the 12-meter sloops Liberty and Australia II begin tacking toward the Cup this week near Newport, R.I., multimillion-dollar investments will be on the line. With a length of about 65 ft., a sail area of 1,800 sq. ft. and a crew of ten, a yacht of this class needs a captain who is courageous with a checkbook. The Liberty and Australia II each cost an estimated $500,000 to build, excluding sails...
...recent easing of several of the restrictions on trade with South Africa has also had repercussions on the debate and corporate involvement. For business, the word from Washington is that sales to South African government buyers are no longer automatically considered to provide support for apartheid. Although the dollar value of sales affected by this shift may be small, it provides a great boost for those who argue that U.S. firms can be in South Africa and not contribute to the maintenance of apartheid...