Word: premium
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Dates: during 1980-1989
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...Harvard of the 1980s, as Rosovsky so aptly described it, was an institution that placed a premium on its own existence. And as the '80s fade into the '90s, the changes in this world view are not readily apparent...
...seemed to be owned jointly owned by Dallhold, Sotheby's and two Hong Kong corporations. (This conflicts with Sotheby's insistence that it had, and has, no ownership of any kind in Irises, only a lien on the painting.) And on checking the insurance, the lawyers found that no premium had been paid and that the English insurers considered themselves not liable for Irises. Asked about this, Sotheby's CEO Michael Ainslie says, "That is news to me. It was certainly in force according to our communication with the insurers...
...part because production costs typically are less than half those of entertainment shows. And since news stories can be used repeatedly on broadcasts throughout the day, stations can sell more advertising time a minute of material, further increasing their profit margins. Moreover, many advertisers will pay premium rates to run their commercials during news shows because such programs generally attract consumers with higher average incomes...
...trader who throws a phone at his clerk every time he passes; and a bond trader who thrives on global catastrophe. Minutes after the Chernobyl disaster, this fellow advises, "Buy potatoes." Lewis suddenly understands: "Of course. A cloud of fallout would threaten European food and water supplies . . . placing a premium on uncontaminated American substitutes...
...20th century, which provided the theoretical basis for microelectronics, also laid the groundwork for sweeping changes in the world's economy. In the past, a nation's wealth sprang from its natural resources and its ability to fashion raw materials into manufactured products. But the computer has put a premium on information, not raw materials or manufacturing prowess...