THE great decisions and arcane maneuvers of finance ministers, international bankers and speculators often seem remote to the public. Yet these actions have universal impact. In this week's cover story, which focuses on Treasury Secretary George Shultz, we analyze the events leading up to the dollar devaluation, discuss the prospects of its success and report the effects on the pocketbook.
Journalists who specialize in economics are keenly aware of devaluation's personal penalties. Associate Editor George Church, who wrote this week's cover story, counts himself lucky that he was not planning a foreign vacation but worries that his favorite Gauloises cigarettes will become...
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