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1988
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World Events
U.S. Events
Economics
US GDP (1998 dollars): $5,049.60 billion
Federal spending: $1064.14 billion
Federal debt: $2601.3 billion
Median Household Income
(current dollars): $27,225
Consumer Price Index: 118.3
Unemployment: 5.5%
Cost of a first-class stamp: $0.22 ($0.25 as of 4/3/88)
Sports
Super BowlWashington d. Denver (42-10)World SeriesLA Dodgers d. Oakland A's (4-1)NBA ChampionshipLA Lakers d. Detroit Pistons (4-3)Stanley CupEdmonton d. Boston (4-0)WimbledonWomen: Steffi Graf d. M. Navratilova (5-7 6-2 6-1)
Men: Stefan Edberg d. B. Becker (4-6 7-6 6-4 6-2)Kentucky Derby ChampionWinning ColorsNCAA Basketball ChampionshipKansas d. Oklahoma (83-79)NCAA Football ChampionsNotre Dame (12-0-0)
Entertainment
Entertainment Awards
Pulitzer Prizes
Fiction: Beloved, Toni Morrison
Music: 12 New Etudes for Piano, William Bolcom
Drama: Driving Miss Daisy, Alfred Uhry Oscars awarded in 1988
Academy Award, Best Picture: The Last Emperor, Jeremy Thomas, producer (Columbia) Nobel Prize for Literature: Naguib Mahfouz (Egypt) 1988 Emmy Awards 1988 Tony Awards Grammys awarded in 1988
Record of the Year: "Graceland," Paul Simon
Album of the Year: Joshua Tree, U2 (Island)
Song of the Year: "Somewhere Out There," James Horner, Barry Mann and Cynthia Weil, songwriters Miss America: Kaye Lani Rae Rafko (MI) More Entertainment Awards...
Events- Ninety-eight percent of U.S. households have at least one television set.
- CDs outsell vinyl records for the first time.
- Ted Turner starts Turner Network Television (TNT) and buys MGM's film library.
Movies- Rain Man, Mississippi Burning, A Fish Called Wanda, Bull Durham
Books
Science
Nobel Prizes in Science
Chemistry: Johann Deisenhofer, Robert Huber, and Hartmut Michel (all West Germany), for unraveling the structure of proteins that play a crucial role in photosynthesis Physics: Leon M. Lederman, Melvin Schwartz, and Jack Steinberger (all US), for research that improved the understanding of elementary particles and forces Physiology or Medicine: Gertrude B. Elion, George H. Hitchings (both US), and Sir James Black (UK), for their discoveries of important principles for drug treatment
Deaths- Roy Orbison
- Chet Baker
- Luis Alvarez
- Edgar Jean Faure
- Nora Astorga
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