Word: free-market
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...Volcker is likely to be in the area of banking deregulation. Volcker was chary about tearing down regulatory barriers that divide U.S. commercial banks and securities houses, a distinction enshrined in the 1933 Glass-Steagall Act. Greenspan, on the other hand, is an enthusiastic deregulator. He also brings his free-market enthusiasm to the issue of Third World debt. Volcker pioneered in that area by promoting concerted action by government and international authorities, along with private banks. Greenspan is more likely to applaud such market-oriented maneuvers as swapping bank loans for equity stakes in the domestic industry of debtor...
...investment bankers and risk arbitragers are to the 1980s. Perhaps a , modern-day Thorstein Veblen could explain the eagerness with which moneymen like Boesky vied with one another in acquiring the luxurious trappings of a baronial life-style. But the insider-trading scandal, a grotesque perversion of the Reagan free-market ethos, was perhaps the inevitable consequence of the gospel of wealth run amuck...
Even as many other Communist countries are experimenting with economic reforms of one kind or another, Cuba has chosen to move in precisely the opposite direction. Within the past year Fidel Castro has pulled the plug on the country's once-thriving system of free-market farmers' stands and a program that allowed Cubans to build, buy and sell private homes on the open market, two of the touches of capitalism that he has permitted to take root in 28 years of rule. TIME Correspondent Laura Lopez visited Cuba with an American delegation from Indianapolis, host city for this year...
...selected by grass-roots organizations at public meetings, where disastrous economic policies that have made Viet Nam one of the world's poorest countries were widely criticized. Indeed, Nguyen Van Linh, 74, the Communist Party chairman who took office last December, has called for more democratic reforms and instituted free-market innovations to spur the economy...
...would be ironic for Americans to lose their faith in a free-market economy at the very time that the rest of the world, including even socialist countries, is looking forward to the forces of market incentives and entrepreneurship. In many respects the American economy is remarkably solid, with a respectable if not spectacular growth rate of around 3% projected for 1987 and an unemployment rate significantly lower than that in most other industrialized countries. But economic reality in America is complex and contradictory. Yesterday's boom regions, like the Southwest, are suffering while yesterday's depressed areas, like...