Word: marketed
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Dates: during 1980-1989
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...price of gold--the traditional barometer of public confidence in stability--is above $600 an ounce. The president of a major Western nation murmurs publicly about the possibility of war this year. Americans grumble about the inability of government to do anything. Clearly, 50 years after the fabled stock market crash, people are searching for another Keynes...
...thing that has become clearer and clearer is that the economic ideology of our system--that in a market system people get what they ought to--will be clearly exposed as one that it irrelevant to economics as it is functioning. The basic decisions will be political--economics will be politicized...
...else. The lid came off prices with a bang. OPEC raised prices during 1979 by an average of 94.7%, to $25 a bbl.?vs. $12.84 a year ago and a mere $2 in 1970. Moreover, oil-exporting nations shifted a growing proportion of their output to the spot market, where oil not tied up under contract is sold for whatever price buyers will pay. Before the Iranian revolution, the spot market accounted for only 5% of the oil moving in world trade, and prices differed little from OPEC's official ones. During 1979, anywhere from...
...from Europe. Sidewalk vendors with boiled sugar beets, pistachio nuts and sunflower seeds still do business in the streets. Peddlers hawk everything from blue jeans to plastic kitchen utensils. Even some discotheques continue to operate, illegally but discreetly, serving soda instead of booze. But there is a flourishing black market in liquor: Scotch, bootlegged from Iraq, sells for $60 to $90 a bottle and moonshine vodka from...
...foreign ones, collectively, move up to No. 2 in the market...