Word: wisdoms
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Dates: during 1990-1999
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...Enter to grow in wisdom / Depart to better serve thy country and thy kind...
...those things will pass. It was only 10 years ago that we stretched reason to justify Japanese stocks' trading at 70 or 100 times earnings--just ahead of that country's enduring recession. Today's most popular stocks trade in that range, and tortured explanations again pass for wisdom...
Never before had an economic theory been so dramatically tested. Even granted the special circumstances of war mobilization, it seemed to work exactly as Keynes predicted. The grand experiment even won over many Republicans. America's Employment Act of 1946--the year Keynes died--codified the new wisdom, making it "the continuing policy and responsibility of the Federal Government ...to promote maximum employment, production, and purchasing power...
...Federal Government did, for the next quarter-century. As the U.S. economy boomed, the government became the nation's economic manager and the President its Manager in Chief. It became accepted wisdom that government could "fine-tune" the economy, pushing the twin accelerators of fiscal and monetary policy in order to avoid slowdowns, and applying the brakes when necessary to avoid overheating. In 1964 Lyndon Johnson cut taxes to expand purchasing power and boost employment. "We are all Keynesians now," Richard Nixon famously proclaimed. Americans still take for granted that Washington has responsibility for steering the economy clear...
...boldly and judiciously determined where students' best interests lie in this sensitive and extremely controversial national issue. What a lucky break not only for these readers but for all students to have a student government so generous with unsolicited political judgements and representations! Without the council members' infinite wisdom and elevated sense of these matters, most students no doubt could scarcely begin to form their own judgements and opinions about these things. That is why we most like having a council which decides for us. These kinds of political issues are always fraught with controversy in other parts...