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...changed radically. In 1959, for example, manufacturing accounted for 28% of gross domestic product, vs. 17% today. Meanwhile, health care has grown from 3% to 11%, and financial services from 14% to 18%. Since the 1980s the Dow keepers have been scrambling to reflect such developments. So in the '80s American Express and McDonald's were added to the Dow as the likes of Johns-Manville and Owens-Illinois vanished. The early '90s saw Disney and J.P. Morgan added, while Navistar and USX got the boot. With the latest changes, which take effect this week, the Dow has morphed further...
...been called the "Chivas Regal effect." In the '80s a new ethos evolved among university officials--and parents--that equated price with quality. A collateral force ensured that tuition would not only rise but also rise at the same rate for comparable schools. Colleges in the Ivy League have always kept close watch on one another, setting their tuition to make sure no one school became so much of a bargain that it drew the best students just on the basis of price. Less prestigious schools set their prices in relation to what the Ivies charged. Says Meyerson: "We were...
...premise of the Chivas Regal effect proved to be correct. "The theory of it was, basically, we will raise the tuition as much as the market will bear," says William Massy, a former Stanford University finance officer, now a consultant on the subject. And parents bore it. Throughout the '80s, says Meyerson, parents came increasingly to feel that a college education was a necessity, a direct conduit to a high-paying job. Easy financial credit, moreover, made it possible for parents to borrow large sums of money; doing so for college became more socially acceptable. From 1983 through...
Overall, Isn't it Romantic presented an amusing take on Jewish twentysomethings trying to come to grips with their lives in the early '80s. Weakened by overused character types and technical difficulties, the play lost some of its initial punch as it went on. But it remained eminently viewable, though not especially meaningful...
...guests could be maddening, but Hall kept up his earnestly ingratiating style at a pre-Rosie O'Donnell moment in pop-cultural history when sunny-eyed kindness wasn't all the rage. Going against the grain, he used niceness to build a hit show at a time--the late '80s and early '90s--when David Letterman's ironic distance set the standard for talk-show cool and a subversive little sitcom called The Simpsons first made its way onto the must-watch list of hipsters, secretaries and six-year-olds alike...