Word: techs
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Dates: during 1980-1989
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...Golden State. He replied by expounding on the universal applicability of the "Massachusetts miracle," as if he discerned little that was special about California. He seems to see it as a bigger and sunnier version of Massachusetts -- more eccentric, perhaps, but still a coastal industrial state, strong on high tech and higher education, prosperous but pocked with poverty and anxious about the future...
...more than 17 million new jobs. The Reagan Administration estimates that firms with fewer than 500 employees accounted for 63.5% of all new employment between 1980 and 1986. Small firms have also contributed to the resurgence of U.S. manufacturing exports. In a study of more than 400 small high-tech concerns, the Bank of Boston reported in August that most such companies began to export their products almost as soon as they started operations...
...debate over entrepreneurship, everyone agrees that the U.S. needs a balance of large companies and small ones. But critics of the entrepreneurial era believe Government policies and America's business culture have provided too many incentives for innovators to strike out on their own, especially in manufacturing and high-tech industries, ranging from steel to supercomputers. Says William Weisz, vice chairman of Motorola (1987 revenues: $6.7 billion): "Entrepreneurs create a lot of energy, but big businesses are the only ones that are going to maintain an industrial base for this country...
Ferguson contends that America's most consistently successful and advanced industries, notably aerospace and chemicals, have been dominated by a few giant companies. (Gilder might cite as a counter-example RCA, which squandered its technological heritage by investing in such diversions as carpetmaking and rental cars.) High-tech corporations, says Ferguson, need a heavy capital base to pay for research, computer networks, manufacturing systems and worldwide organizations for sales and customer support. Upstart U.S. firms, too small to bankroll their own factories, often turn to Japanese companies for manufacturing help or sell their key technologies to raise capital for expansion...
Initial reports from the remote northern reaches of Burundi had a nightmarish quality. Mass panic. Thousands killed. Peasants wielding machetes and spears against soldiers armed with high-tech weapons. Waves of fleeing refugees. Widespread accounts of wanton revenge and murder...