Word: known
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Dates: during 1970-1979
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...officialdom, including the military, and high marks from most observers. His Cabinet, sworn in before his own inauguration, seemed to be both neutral and competent. Selected as Prime Minister was Shin Hyon Hwack, a technocrat and former economic planning chief. The new Defense Minister was General Choo Young Bok, known as "Tiger Choo" to American officers in Seoul, and, curiously, the first South Korean Defense Minister with a knowledge of English good enough for direct communication with U.S. commanders. According to President Choi's earlier promise, the newly installed Cabinet's most important immediate task was supposed...
...Polytechnic University had provoked a violent clash with the army that helped topple the country's military junta. Now the marchers, 15,000 strong from all political factions, swept through the streets of Athens with a more peaceful aim: to protest a grapeshot series of educational reforms known as Law 815. Trying to play it safe, the conservative government of Premier Constantine Caramanlis had closed the country's seven universities (total enrollment: 100,000). But as it turned out, the students intensified their challenge by staging a takeover of the campuses for six days of marathon...
...auction firms also assiduously cultivate known collectors in the hope that, alive or dead, they will some day assign their possessions to the market: auction executives are among the world's most diligent readers of obituary pages. William Doyle, the ebullient Boston-Irish owner of a seven-year-old Manhattan house, who expects to gross $15 million this fiscal year, flies in his own plane to reconnoiter rumored treasures. On a trip to Warrensburg, N.Y., he found a trunkful of letters autographed by five of the signers of the Declaration of Independence...
...city slicker might once snap up for a song a Revere salver or a federal highboy is as distant a memory as the nickel newspaper. Says Scudder Smith, editor of Antiques and Arts Weekly, "You look around some of these little country auctions and there are 25 well-known dealers there...
...what, exactly, does it mean? On the most obvious level, it means what everyone knows: that money is losing value. But it also means that we are in the grip of a wave similar to what, in 17th century Holland, was known as the Tulip Mania. The tulip was then a comparatively new import from the Near East, and mutant specimens, with irregular stripes, were prized as rarities-so prized that men would mortgage their villas and their fields. The tulips had little intrinsic value. Their worth as commodities was a function of pure, irrational desire, and their economic fate...