Word: dollarization
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Dates: during 1980-1989
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Charles and Dianne Jones moved to Jacksonville last September to escape Houston's depressed economy and stretch their dollar a little further in a state known for its low taxes. What they found along with the Florida sunshine were inadequate schools, clogged roads and poor social services. "We have a 16-year-old daughter who comes home from school with a different problem every day," says Mrs. Jones. "She can't get this; the school doesn't provide that. You get three cars on the road, and you have a traffic...
Many Floridians seem willing to pay for better services, but they share a widespread suspicion that the government is not sufficiently frugal. In a recent study by Florida TaxWatch, a nonprofit taxpayers group based in Tallahassee, the average respondent believed the government wastes a third of every dollar it spends. Says Reed Gidez, 28, who moved to Tampa from New Jersey a year ago: "I would be willing to pay more taxes if state leaders could convince me that they were actually going to do something with the money." For the leaders of the fourth largest state in the nation...
...cheap labor by Asian standards, yet it has been slow to invest in higher- technology fields. Exports of textiles, a key industry, last year grew by an impressive 23%. But other sectors have been hurt by a 40% rise since late 1985 in the value of the New Taiwan dollar against the U.S. greenback, which has increased the price of the island's products in many overseas markets...
...half of the decade, Iowa farmers were devastated by high interest rates, falling commodity prices and a collapse in land prices, their primary collateral for loans to pay for equipment and seed. But then came a costly federal bailout: the $28 billion 1985 farm bill. Aided by a falling dollar that spurred agricultural exports, farm income soared by 30% between mid-1986 and mid-1987. "Farmers are making strides," concedes Neil Harl, a professor of agriculture at Iowa State. "They are not using income to buy machinery. It will be two or three years before...
BUSINESS: A lower trade- deficit figure sends stocks and the dollar flying...