Word: dollarization
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Dates: during 1980-1989
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...matter how intractable their problems seemed - and in deed high interest rates and the too strong dollar defy ready solution - these special visitors did not need to go home emptyhanded. Wiliiamsburg, after all, was a gathering place of ideas that shaped America and influenced the world. And for men and women who care to look and listen, great thoughts renew themselves in the modest homes, the taverns and the government buildings...
...rigorous efforts at fiscal austerity. As a percentage of national output, the projected U.S. deficit (6.3% of G.N.P.) is nearly twice as large as those of France, Britain and West Germany, and more than three times as great as Japan's. The rise in value of the U.S. dollar has another adverse effect since the cost of petroleum is denominated in U.S. dollars, meaning that francs, marks and other currencies buy less oil. This year the slippage of the franc against the dollar will add an estimated $1 billion to France's oil bill...
...everything. The result is government by total mobilization. Kindergarten children march, singing, to school; construction workers march, singing, to work. The Muscovite subway stations, all marble and murals, offer glass-framed copies of the party daily, Rodong Sinmun, on every platform. Meanwhile, at the Mansudae Art Theater, a multimillion-dollar showpiece groaning with chandeliers, the revolutionary opera Song of Paradise climaxes with the cast, assembled before a huge red sun, singing, "His grateful love has given us eternal life/ We shall relate his everlasting love from...
...moved into more lucrative civil trial work, initially with Philip Corboy, Chicago's famed personal injury litigator. For two malpractice suits brought by parents of infants blinded after childbirth, she criss-crossed the country, taking out-of-court testimony from 26 doctors, and helped to secure a million-dollar settlement in one of the cases...
...snafus and bottlenecks. In 1979 Dover Elevator Co. formed quality circles at its Horn Lake, Miss., plant. Says Robert Scott, Dover's quality-circle coordinator: "It has done so many good things you can't even count them. I suppose if it were to be put in dollar terms, we have had a $12 to $15 payback on each dollar invested in the program." One quality circle suggested a way to install elevators in shafts more economically; the improvement will save Dover $2.5 million over the next five years. Westinghouse Electric Corp., with more than 2,000 quality...