It’s fun to troll through the New York Times archives. For some reason I’ve always remembered a particular end-of-year editorial that summed up the year 1997. I remember reading it and wondering how it would read years later. Now I know.
Here it is, dated January 1, 1998. How times have changed – but in some ways, not.
The Year of Living Smugly
Perhaps the most striking thing about 1997 was its power to divert. The robust economy, the continued decline in crime and the blessed respite from terrorist violence on home soil gave the nation an opportunity to focus on intensely personal news events with little overarching import — the death of Princess Diana, the ”nanny” trial and the birth of American septuplets.
It seemed, in many senses, the best of times — even the prosperous, placid 1950’s had been overshadowed by the cold war. Now, the United States is the planet’s only remaining superpower. Its most ambitious hopes for furthering Middle Eastern peace or smoothing China’s emergence as an economic and political power may not have been realized, but 1997 was still a year marked by uneasy peace in places where the mere absence of armed conflict must be counted as achievement. At home, the stock market rose more than 20 percent for the third straight year, and it was no surprise that Wall Street traders ended 1997 by releasing balloons in honor of the new horde of millionaires the market had created.