Word: globalization
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Dates: during 1960-1969
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...remarkable confluence of self-interest among nations, the new policy was especially welcomed by the U.S., which has been pressing for foreign help to minimize the global impact of efforts to end its balance of payments deficit. Said Treasury Under Secretary Frederick Deming: "The Europeans have accepted the realities of the U.S. position and shown a willingness to adopt offsetting policies...
...Toscanini. Orchestras have grown up, spawned offshoots and multiplied; there are 1,400 in the U.S. today, from small-town groups of amateur noodlers to massive metropolitan institutions. Festivals have flowered in tropical profusion. Recordings and TV have created vast new outlets. The jet airplane has catapulted careers into global orbit. Musicians who used to scrape along on 25-week seasons are now working 52 weeks, making far more money, and even demanding more authority in hiring and firing their coworkers...
...problem is that in the "gold-exchange" system nations pay for most of their global commerce in gold or dollars, and the U.S. is pledged to sell its gold bullion for any paper dollars that foreign central bankers turn in. Moreover, the U.S. guarantees the official price at $35 an ounce. Because of its now familiar balance of payments deficits, the U.S. has papered the world with its dollars, creating plenty of calls on the nation's gold stock. Since 1957, U.S. gold reserves have declined by almost half, to less than $12 billion, and foreign claims...
...Global U. What is happening in public higher education, as in all of U.S. society, is an unprecedented rate of change. And, as Sam Gould sees it, the ability to understand and adjust to change is precisely what higher education today is all about. In his vision of the academic future, the university is bound to be "less structured and far more flexible than it has been before"-more open to students of all ages who will be there to learn rather than accumulate degrees, and who will return throughout their lives for intellectual stimulus. The university should also...
...name; yet B.B.C., as it is known, has long generated wide respect for its heavy electrical equipment. Brown, Boveri's parent plant in Baden, near Zurich, depends on exports for 73% of its $146 million sales, which in turn are only a fraction of the company's global business. It has 17 manufacturing subsidiaries worldwide: 76,000 employees in 40 plants and 250 field offices make and sell turbines and locomotives, heavy transformers and radio transmitters...