Word: boom
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...Democrats, only 30% Republicans and 27% independents. The Democrats have a majority in the House and hold 35 of 50 governorships. But to recapture the presidency and to control the national debate, the party will have to appeal to the middle class, particularly the so-called Yuppies, the baby-boom generation. This requires a more hardheaded approach to economic problems, which in turn risks alienating the party's traditional supporters. "Defining the role of Government is the central philosophical dilemma Democrats have to confront," says Tennessee Congressman Albert Gore...
...always been so. San Francisco was gay when that meant merry and blithe, back when its 49ers were gold prospectors, not football players. The city began as a boom town and never quite lost the founding giddiness. "San Francisco was zero in 1848, a Mexican village," says Kevin Starr, author of Americans and the California Dream. "And in 1870 it was the tenth-largest city in the United States." Ne'er-do-wells found themselves making fortunes on minerals or dry goods or prostitution. Young Yankees rode into town by the thousands, looking for adventure and gold...
...rest of the year is for a slowdown to a more sustainable rate of growth, accompanied by some further declines in unemployment, which has fallen from 10.8% in December 1982 to 7.5%. Most surprising, there has been no increase in inflation of the type that usually accompanies such a boom. The nation's broadest price index, the so-called G.N.P. deflator, rose at an annual rate of 3.9% in the first quarter, but only 2.8% in the second...
...mounting that foreign competition is forcing U.S. industry to change its bad habits. According to the Commerce Department, businesses plan to spend a record $309 billion this year for new plants and equipment, a 14.8% increase over 1983. "We seem to be in the midst of an investment boom," says Michael Levy, director of economic policy research at the Conference Board, a business supported think tank in New York City. In addition, manufacturing companies held wage and benefit increases last year to an average of 5.4%. Since worker productivity jumped 6.2%, U.S. industry managed its first reduction in labor costs...
...Freer exhibition is a fascinating show, for its context as well as its contents. Charles Lang Freer, who made his millions in rolling stock in the boom railroad years of the late 19th century, was an impassioned Orientalist, a disciple of the "Boston bonzes," chiefly of Ernest Fenollosa. As Bernard Berenson fanned the ardor of the American rich for the Italian Renaissance, so Fenollosa was busy shaping American taste for Oriental art. He adored Whistler's work, calling him "the nodule, the universalizer, the interpreter of East to West." Freer concurred, and in the 1890s he became Whistler...