Word: expansionism
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Dates: during 1980-1989
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The final major adverse effect of sustained large budget deficits is to increase the risk of an inflationary monetary policy. We already hear occasional calls for an easier monetary policy that its advocates incorrectly claim will stimulate growth, increase tax revenue and reduce future deficits. But experience shows that an...
Unfortunately, Brazil's huge foreign debt of approximately $100 billion will continue to inhibit such expansion. Although the country had a trade surplus of $13 billion last year, $10 billion of that amount had to be earmarked as the annual interest due on the debt. Nonetheless Neves said that he...
The Statistics department, one of the University's smallest concentrations, announces a long-range expansion plan aimed at increasing the number of senior faculty members and beefing up computer facilities.
One of the key figures in this decades-long transformation is Picture Editor Arnold Drapkin, who was hired in 1951 to help start TIME's new color projects department. "When I began," he recalls, "color photos had to close five weeks before their appearance in the magazine. Then, from the...
Early in 1984, though, the economy seemed unstoppable. For the first half of the year, growth in the gross national product, after adjustment for inflation, reached 8.6%. Some economists feared that so exuberant an expansion ) would cause inflation to accelerate. To prevent that, the Federal Reserve Board in the spring...