Word: good
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Dates: during 1980-1989
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...change gradually the prejudices that these regimes have cynically cultivated since taking power. Ways must be found to teach people that a gain for one is not necessarily a loss for another, that long-term improvements may require short-term sacrifices, that some changes are for the good, that it is their responsibility to keep local authorities in line. Only that sociological change will make possible the economic and political reforms that Gorbachev, Deng and other reformers insist are necessary. Thus far, no Communist regime has found a way out of this dilemma. Lenin once said, "Give me four years...
...never an easy question (autobiographies frequently contain more fancy than novels), but so far as one needs a guide to the free state of Theroux's imagination, it is this: like the author, the novel's hero, Andrew (sometimes Andre) Parent, was born and reared in Massachusetts, spent a good part of the '60s teaching and traveling in the Third World, and eventually made his mark as a London-based writer...
...Panamanian people, though exercised last week by Noriega's outright contempt for popular opinion, cannot be counted on to remain in the streets. They have mounted sizable protests twice before over the past two years, only to retreat back into their comfortable homes. "What we need here is 20 good Korean students," a U.S. official wryly notes. "The people ((in Panama)) seldom put it on the line." Frustrated as they may be, middle-class Panamanians have not suffered the misery that galvanized Filipinos and Haitians. And Noriega is no Marcos or Duvalier: he is wilier, stronger -- and more bloodthirsty...
Later in the week, Washington had good news: the Producer Price Index rose ! by a moderate 0.4% in April, a smaller leap than most experts had feared. Wall Street responded Friday by pushing the Dow Jones industrial average up 56.82 points to 2439.70, its highest level since the October 1987 crash. But when the sharp increases that took place during the first four months of the year are taken into account, wholesale prices are still zipping upward at a rapid 9% annual rate. The conflicting trend lines -- down in retail sales, up in producer prices -- heightened concerns about a return...
...Federal Reserve does next. Noting that wages jumped a strong 0.7% in April despite a rise in unemployment, some experts argue that the Federal Reserve must push interest rates higher to keep inflation from heating up. But opponents of that prescription say it would do more harm than good. "The greatest threat to the economy now is not inflation, but recession," says Irwin Kellner, chief economist for Manufacturers Hanover Trust in New York City. "If the Fed doesn't relax its grip within two to four months, we'll find ourselves in a recession by the end of the year...