Word: professor
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Dates: during 1990-1999
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There does seem to be a spreading sense that too many rules have been bent and too many watchdogs asleep. And too many debts left unpaid. "What epitomized the 1980s was, Spend now, pay later," says David Colander, economics professor at Middlebury College. "What will epitomize the 1990s is, Pay now." This involves not just all the credit-card loans or the interest on the leveraged buyouts but also a lot of ignored problems. "Domestically, we have bulldozed so many things into the future," says Robert Hormats, vice chairman of Goldman Sachs International, "that now we are going to have...