Word: marketization
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Dates: during 1990-1999
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...Kraft made the right decision. He kept the New England Patriots in the unofficial capital of New England. Boston, the sixth-largest media market in the country, is a significant step up in prestige from Hartford, the 27th-largest. Loyal Pats fans will be there for the team as long as the home field is within distance of the commuter rail or a short drive...
...Goldman Sachs veteran Rubin (with an assist from Greenspan) who persuaded President Clinton that his dreams of a prosperous American middle class had to be kick-started by balancing the federal government's then blood-red budget books. A credible deficit reduction plan would please the bond market, the former arbitrageur argued, and that would translate into lower long-term interest rates. That in turn would stimulate the economy, which would in turn boost tax revenues, which would in turn make deficit reduction a reality. It's known as a "virtuous cycle." Six years later (with an assist from...
...With the helium-filled stock market shoving politics aside this decade as Americans' ticket to life, liberty and early retirement, it was Rubin and Greenspan who emerged as the wonks voters couldn't live without. Americans looked to Wall Street, Wall Street looked to Rubin. Clinton, who has proved repeatedly that he knows the electorate better than any of us, knew Rubin's value when he begged his weary cabineteer to ride out impeachment -- a sour stock market was always more dangerous than Ken Starr. And with the Cold War over and the biggest threat to American freedom no longer...
...Primakov was pedestrian, and he hadn't done much in the way of reform, but he was predictable," says TIME Moscow bureau chief Paul Quinn-Judge. "The response of the market is the initial feeling of the panic at the void of the unknown opening up in front of them." Primakov had just secured a $4.5 billion stopgap loan from the IMF; that will have to be renegotiated, as will Russia's aid arrangements with the World Bank. Now that the Russian parliament is bracing for another round of reject-the-nominee and Moscow leadership is a vacuum once more...
...Network Computer come a week after AOL's dominance seemed threatened by AT&T's growing cable empire and deals with At Home and Microsoft. The set-top box is supposed to hold special appeal for the half of U.S. households that don't have a computer, a market that AOL must tap in order to maintain its torrid growth (now past 17 million subscribers...