Word: dollarization
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Dates: during 1980-1989
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...more than 40 years, the U.S. has held sway in Asia by a combination of Pax Americana and the almighty dollar. Uncle Sam has defended his friends against Communist expansionism while providing aid and guaranteeing markets. Now Mikhail Gorbachev's Soviet Union is behaving less like the Big Bad Bear. The Soviets may well close their naval and air facilities in Viet Nam and continue to foster peace on the Korean peninsula. Many in the area believe it is only a matter of time before the U.S. withdraws from its own bases in the Philippines and removes its ground troops...
...psychological atmosphere -- of the U.S. position worldwide, especially in Asia. America's indebtedness, to itself and to the rest of the world, soaks up resources that might otherwise be invested to boost productivity and exports. Thus the budget deficit exacerbates the trade deficit, which in turn hurts the dollar and provokes protectionism...
Under the current system, about 40 cents of every auto-insurance dollar goes toward selling policies or administering claims, not for fixing cars or compensating the injured. Nearly all that wasted money could be saved. Virtually every disinterested party who looks at the system -- from the young law student Richard Nixon in 1936 to the considerably less conservative Senator Daniel Patrick Moynihan of New York decades later -- concludes the same thing: the system stinks. It could be radically improved...
More than 15 cents of each auto-insurance dollar is spent signing people up. (And lots of people don't sign up, pushing onto the rest of us the cost of any damage they...
...roughly 800 words a day, no longer betrays the traces of his working routine, mounting piles of typescript scattered about the floor. But on a mantelpiece in this room rests an intriguing souvenir of Rushdie's past: a beautifully bound octagonal miniature, roughly the size of a silver dollar, of the Koran...