Word: marketization
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Dates: during 1990-1990
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Workers whose jobs are cyclical, seasonal or subject to the whims of the market feel vulnerable even without receiving a pink slip. Some benefits, like health insurance, may be tied to the number of hours logged, and so, in a slowdown, workers suddenly find themselves without coverage. Mayo Gonzales, a 57-year-old carpenter in Ontario, Calif., did not amass the 250 hours he needed this year to keep his benefits. "At my age -- at any age -- it's very important to have insurance because anything can happen," he says. "This is one of the worst slowdowns I have seen...
Even if they are not planning to sell, homeowners feel poorer when values drop. "The price of your house was your standard of value in the 1970s," says Kathryn Eickhoff, president of her own economics-research firm in New York. "You couldn't make money in the stock market, but you knew your house would go up in value. But now that confidence is being tested, and people feel vulnerable...
...economy is also especially vulnerable to shock waves from overseas. A panic in Japan's superheated real estate market would shake Japanese lenders and help trigger a global slump. So could the chaos that would ensue if the Soviet Union's restive republics plunge that country into civil...
Slickest Packaging Once stashed in the backs of men's wallets, condoms entered the fashion market. Manufacturers affixed prophylactics to earrings, pins and bolo ties. Meanwhile, some pioneering secondary-school-bo ard members debated whether to distribute condoms to students...
...increases in wages and improved social benefits. Morocco's ills, however, are not easily fixed. Under an austerity program drawn up by the badly indebted country, only 15,210 new jobs will be created next year -- meager pickings for the 350,000 young Moroccans who will enter the labor market...