Word: dollarization
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Dates: during 1980-1989
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...plant closing measure merely places human lives above corporate profit. Never again would multi-billion dollar corporations be allowed to wreck hundreds of families at a stroke without at least giving them a few weeks to rearrange their lives...
...wrong is obvious, the ways to right it are not. Senator Malcolm Wallop of Wyoming, among others, strongly objected to the $20,000 payments: "Honor doesn't come with a dollar sign on it, and you don't buy it back." The objection is disingenuous, since Wallop thinks there is nothing to apologize for. It is also wrongheaded. Under the American system of tort law, wrongful harm is routinely acknowledged with cash payments. But to those interned, the formal apology and the removal of the stigma of disloyalty may count for far more than the cash. The country is also...
...ignored his campaign promises to balance the budget and slash government spending. The recent period of economic growth has been tempered by the deepest recession since the Great Depression, the panic on Wall Street, the rise of the "twin towers" (the budget and trade deficits) and a trillion dollar jump in the national debt...
Therefore, the so-called political nature of the Class Gift is not inherent but contrived, through the formation of E4D itself. E4D's assumption that one less dollar in the College operating fund corresponds to a like decrease in the endowment does not warrant the inverted conclusion that a senior's gift to the College is an explicit expression of approval for the endowment. Each senior's gift to Harvard-Radcliffe is important and valid in itself, as a direct contribution to the school, beyond the political concerns surrounding the endowment. This is the unifying quality of the Senior Gift...
...central bankers tried to back their words with action. When the dollar began tumbling in midweek, they quickly intervened in foreign exchange markets, buying up the U.S. currency. But the strategy only slowed the greenback's retreat, and if the trade picture keeps deteriorating, central bankers will find it increasingly difficult to prop up the dollar. Investor pressure to drive the currency down could prove overwhelming. Says Howard Wachtel, professor of economics at American University: "If the dollar really falls outside the band agreed to by the G-7 and direct intervention cannot restore it, then we risk a free...