Word: effective
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Dates: during 1980-1989
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...negotiable state debt is in the hands of individuals. This mode of saving doubtless owes something to exchange controls and preferential tax treatment, but Italians have been willing buyers of state paper, thus absorbing the burgeoning debt. In this situation, rises in interest rates have the perverse effect of stimulating consumption by putting more money into people's pockets. Moreover, another part of the government's deficit spending directly helps private business by shouldering part of employers' social-security contributions, thus boosting profits and encouraging investment...
...there one brilliant, compact image that captures the era of Gorbachev and the greenhouse effect, of global communications and AIDS, of mass famine and corporate imperialisms, of space exploration and the world's seas awash in plastic? The Age of Leisure and the Age of the Refugee coexist with the Age of Clones and the Age of the Deal. Time is fractured in the contemporaneous. We inhabit not one age but many ages simultaneously, from the Bronze to the Space. Did the Ayatullah Khomeini live in the same millennium as, say, Los Angeles...
Mubarak in effect redrafted the plan to take the sharper edges off both sides' objections. The U.S. backed the idea, and the P.L.O. did not torpedo it. While the Palestinian leadership has little faith that the plan will work, it does not want to bear responsibility for a failure. Faced with following through on its own official policy, the Israeli government fell to arguing with itself. Labor embraced Mubarak's proposal, while Shamir's Likud opposed large chunks of the plan. Two days of hot debate in the twelve-member Inner Cabinet last week produced a tie vote: de facto...
Drug czar Bennett agrees with those correctional officers who believe shock incarceration is no cure-all for street crime, though it can help "build character." It seems to have the most effect on nonviolent young men for whom crime has not become a hardened way of life. The program appears to work best for youngsters who might have been helped just as much by a resolute kick in the pants and some productive community service and victim reparation. Perhaps that is a more realistic way of coping with the burgeoning problem of youthful crime...
...Place for Us completes an emotional symmetry that began with Eleni. It also offers a look at Greek-American life as textured as any the general reader is likely to encounter. Gage writes with little separation between his intellect and his senses. There is no straining for effect; moments reveal their natural poetry. How, for example, does one know the time to pack up a family picnic and head for home? "When it was too dark to tell red wine from white." When Gage describes the bread tax that early immigrants levied to support their new churches, one can taste...