Word: wisdoms
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Dates: during 1990-1999
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...style and tone closer to Rush Limbaugh than George Will. As a contributing editor to the Journal in 1992, he evaluated the man now running as the party's candidate: "Senator Bob Dole, the grand old rhinoceros of the G.O.P., is in his fury and in his wisdom a natural for the presidency, but by the time he assumed it, he would be 73 years of age." Depending on how you feel about rhinoceroses, that could have been an endorsement...
...conventional wisdom about Bosnia runs like this: despite the overwhelming success in implementing the military provisions of the Dayton accords, those agreements will not lead to a single, unified Bosnia; rather they have merely deferred the resumption of war or, at best, provided an interim stage on the road to partition. The basis for this view is the uncertain pace of implementing the civilian aspects of Dayton--economic reconstruction, return of refugees, prosecution of war criminals, preparation for elections. How valid is the new pessimism...
...become an article of faith among policymakers and on Wall Street that if the economy grows at an annual rate above 2% or 2 1/2%, inflation will rise, perhaps uncontrollably. As illustrated by recent events, such conventional wisdom has become almost a self-fulfilling limitation. When growth rises above this level, investors, spooked by a belief that the Federal Reserve will soon be "forced" to raise short-term interest rates in order to prevent an outbreak of inflation, rush to sell bonds. This pushes long-term interest rates up. The result is that prospects for future growth are dampened...
Sure, one quarter isn't a trend, but there is nothing in these numbers to provoke fear of inflation; on the contrary, they should have been the basis for satisfaction and the determination to do better. The conventional wisdom, however, is so embedded in the financial community that the National Economic Council chairman, Laura D'Andrea Tyson, felt understandably compelled to reassure the markets by announcing that the Administration's growth forecast for the year was unchanged from its original 2.2%. It should not be necessary to tell Wall Street that the economy isn't as good as it looks...
Though she draws heavily on the combined wisdom of her friends, Hanson sometimes speaks from personal experience. For instance, when she found out the names of her three future Pennypacker roommates, she wrote them a humorous letter in which she said she would be "bringing an uncaged, 'outgoing' pet frog with [her]. At the time it seemed like a delightful display of wit, but as the weeks passed and no reply arrived, it began to seem more like a proclamation of lunacy." Hanson concludes, "First impressions count...