Word: latinized
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Dates: during 1980-1989
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...word comfortable did not acquire its modern meaning until the 18th century; its original Latin root, confortare, means to console, as in Jesus comforting the afflicted. The medieval citizen who used the word in that sense could scarcely use it about his house, which generally consisted of one large room, little heat or light, a minimum of furniture and no running water. "In the Middle Ages," observes Rybczynski, "people didn't so much live in their houses as camp in them...
...price, however, has been heavy, and most Latin American countries are worse off today than when the debt crisis arose in 1982. Musich acknowledged Treasury Secretary Baker's October initiative to use increased international aid to spur additional growth in debtor countries. But the Argentine economist warned that the debt burden is not the root cause of the region's economic problems of endemic poverty, inflation and slow growth. Many of those ills are self-inflicted by what Musich called "rigid inward policies," meaning excessive bureaucratization, protectionism and state domination of local economies. Said he: "With or without the debt...
...emerging trends. To meet this challenge, TIME last week for the first time convened all three of its Boards of Economists -- from the U.S., Europe and the Pacific -- with a pair of distinguished guests: former Secretary of State Henry Kissinger and Arnaldo T. Musich, chairman of the Foundation for Latin American Economic Research. The 21 experts met with our editors in one freewheeling two-day session in New York City. Their discussions contributed heavily to this week's twelve-page Special Section, which comprises stories on the Age of Capitalism as well as a report on the boards' analysis...
...Third World, even socialist countries like India have increasingly turned to private enterprise in the search for more production and jobs. In Latin America, debt-plagued Argentina, which owes $51 billion to foreign creditors, is striving to dismantle some of the stifling legacy of state enterprise created by former Dictator Juan Peron. Communist nations are making efforts too. In Eastern Europe, small but thriving outposts of free enterprise continue to exist amid the suffocating state presence. Half the wurst and baked goods in East Berlin come from the private sector...
Capitalism's promise, by contrast, is the creation of a more robust economic life, and the record of delivery is good. "Private enterprise is now the universal belief," says Bernardo Villegas, chief economist for the Center for Research and Communication in the Philippines. Leaders in Africa, Asia and Latin America are increasingly turning to free markets to develop impoverished economies and catch up with the rest of the world...