Word: scarcer
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Dates: during 1980-1989
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Financial markets were swept by a crazy quilt of slumping and surging prices. Businessmen fretted over whether Carter's "disciplined" new effort to make money and credit scarcer and more costly would pitch the economy into recession for real, or if it would perhaps be swept aside by another onrush of inflation. On Wall Street, the Dow Jones average of 30 leading industrial stocks dropped 23 points on the first day after Carter announced his program. It then bounced back and forth before finally closing out the week down 26.5 points at 785, its lowest level since April...
Rental housing is becoming scarcer because of demolition, abandonment and especially condomania. In Chicago 60,000 leased apartments have converted to condominiums since 1963, creating a severe housing crunch in parts of the city, notably the fashionable Near North Side. Last year 12,000 New York apartments went cooperative. The trend may accelerate as a result of Citibank's announcement last week that it was making $1 billion in loans available for houses and coops...
...most recent issue of Harvard Magazine, Lansing Lamong '52 wrote of today's students: "In a world of scarcer resources and increasingly competitive achievers, they see the stakes looming larger and larger...they also find less time for dreaming and introspection... " So I'm not the only one who thinks the workload is heavier around here...