Word: techs
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Dates: during 1980-1989
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Lucas developed his themes more than ten years ago: the battle between good and evil; the ability of a free-spirited, unsophisticated society to win ultimate victory over a high-tech dictatorship; the power of an individual to prevail against all odds, if he only has faith in himself. "I don't believe it," Luke says in Empire, when Yoda levitates a spaceship. "That," answers Yoda, "is why you fail." It is a complicated universe of the imagination Lucas has laid out to express his themes, and he has tirelessly overseen its evolution, directing the first film himself and assigning...
...imaginative. But as with many public policy theories, the main question is: Will it play on the Potomac? And although Walter Mondale calls The Next American Frontier "one of the most important works of the decade," his buddies in organized labor are not altogether thrilled with Reich's high-tech heaven. A public policy theorist wants his plans implemented, but Reich does not leave enough room for natural compromise. While he might think that America needs "a new consensus" to address these problems, such a consensus has not emerged. Without it, the country is unlikely to swallow Reich's prescription...
...labor, Reich urges a similar sacrifice--to look beyond the short term and more to high tech. He argues that the union leaders must realize that clutching to tariffs and hard-line positions may pay off for a time but not once those smokestack industries begin to lose international competition...
...whole structure disintegrate. And while the Democrats can praise Reich's book and use some of his ideas for the 1984 platform, it is going to be hard for them to push labor into abandoning their hold on the smokestacks and going into unfamiliar and largely non-union high tech waters. The problems are there and Reich clearly elucidates them. But whether his calls are loud enough to get people moving is the real question...
Right now Biggs is particularly concerned about the headlong rush to high-tech stocks. He calls this "classic overspeculation," yet he is not bearish about the overall market trend. He foresees some degree of correc ion, but not the 10% to 15% anticipated by many of his Wall Street colleagues. He still strongly favors blue-chip companies that will benefit most from a slowdown in inflation: IBM, GE, American Bell and 3M. Lower oil prices and interest rates, he says, could keep the bulls going. Biggs last week, using Churchill's famous quote, said the bull market...