Word: growth
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Dates: during 1980-1989
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HARVARD'S DELUXE brochure in honor of the College's 350th anniversary is here. Glimpses of the Harvard Past, written by four Harvard history professors, Bernard Bailyn, Donald Fleming, Oscar Handlin, and Stephan Thernstrom, is a haphazard survey of the growth of the College from its foundation to the present...
...anticipated U.S. growth spurt may be delayed for several months while / the economy absorbs the oil-patch troubles. The beleaguered economies of Texas, Louisiana and Oklahoma, which account for 10% of total U.S. goods and services, are large enough to create a drag on the rest of the country. Major American oil companies have made billions of dollars in budget cutbacks, and that will at least temporarily offset the increased spending by other firms preparing for the good times ahead...
Thanks partly to low-cost fuel, Europe is expected to show real growth of about 3.5% this year, its most vibrant performance in a decade. Several governments aim to use the opportunity to make fundamental improvements in their economies. Italy's Prime Minister, Bettino Craxi, for example, hopes to reduce the country's runaway budget deficit, which is expected to hit $50 billion this year...
...from dried-up oil dreams. Says Hormats: "The geopolitical impact of the oil-price collapse is immense and unpredictable." A Bank of America report issued last week predicts that average inflation in the Middle East will jump from 28% to 40% by 1988 and that the region's economic growth will be a slow 1% to 2% a year. Oil producers, especially those with heavy foreign debts, may pick the U.S. as a worthy target. Writing in the current issue of Foreign Affairs, Edward Morse, a former Deputy Assistant Secretary of State, maintains that the oil slump could further taint...
...government's greatest weapon, however, may be an economy that continues to go from strength to strength. In the first two months of this year, exports were up an impressive 38%, prompting some economists to talk about 9% growth for 1986. That mini-miracle has been assisted by the drop in the price of oil, a major South Korean import, and by the steady rise of the yen, which handicaps rival Japanese products...