Word: trades
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Dates: during 1990-1999
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...along with Edward Yardeni, chief economist for the investment firm Deutsche Morgan Grenfell (North America), argues that today's economy can speed along briskly without inflation because of fundamental changes that have made companies more efficient than ever. Among them: the demise of the cold war, which has lifted trade barriers and released millions of workers and billions of dollars for productive peacetime purposes; and the ubiquitous use of computers, which enables companies to book new orders or build new cars with the click of a mouse. Says Yardeni: "I'm a big believer that this high-tech revolution...
...John Chambers, 46, attracts more groupies at trade shows than the Spice Girls on a London street. Says fund manager James Cramer: "Other than Andy Grove, the guys who manage Microsoft and maybe Lou Gerstner, there's no better management than Chambers and Cisco. In any industry." Cisco recently unveiled its latest eye-popping numbers--52% sales growth with gross margins reaching 65%. And the company pulled this off during a wrenching product transition...
Whatever you do in life, be sure to admire others who do it as well as or better than you. My trade of journalism is sodden these days with practitioners who seem incapable of admiring others or anything. It is a matter of creativity as much as truth. They do not know that generosity is creative...
Albright: We should care because twice in this century Americans fought and died in Europe because there were national conflicts, border conflicts, power surges by one country or another. We feel better when Europe is united and democratic. It's frankly a huge, good market. Stability brings trade, and trade brings jobs...
That policy kept America engaged with its allies and paid off handsomely. Not only is there no prospect of a war in Europe, but the ancient enemies--France and Germany at the center--have integrated their economies, torn down internal trade barriers, and face the world increasingly as a single unit. Their prosperity is enormous: Europe's gross domestic product last year, $8.6 trillion, overshadows America's $7.6 trillion...