Benito Mussolini created the word 'fascism.' He defined it as 'the merging of the state and the corporation.' He also said a more accurate word would be 'corporatism.' This was the definition in Webster's up until 1987 when a corporation bought Webster's and changed it to exclude any mention of corporations.
Central bankers got it right in the United States in 1987 when they avoided deflationary pressures as well as serious trouble in the banking system.
When I left Europe in 1987 I did so with the thought that my relevance as a composition teacher would benefit from a certain cool distance to certain tendencies I had been observing for several years with increasing disquiet.
In the 1987 stock market crash, according to the conclusions of the official Brady report, colossal sales of stock index futures by so-called portfolio insurers - whose investment strategies depended entirely on these derivatives - greatly exacerbated the 500-point market decline.
I helped start a ceramics company called CPS Technologies. We took it public in 1987 at $12 a share. Three months later, there was this horrible cliff: Black Monday. Fidelity had bought 15 percent of our stock, and their algorithm caused them to dump it all onto the market that day. We dropped from $12 to $2.