Word: 1930s
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...Some locals reported having seen cracks in the banks of the dirt dam, built in the 1930s by the Dutch colonial government. "Indonesia's problem with spending money on maintenance has taken its toll," says Tom Shreve, president director of Glendale Partners, an infrastructure consulting firm. "The city has a lot to do in maintaining and improving infrastructure." The Indonesian government, which has responded to the disaster by sending police and soldiers to help clear the area, has acknowledged that more needs to be done to maintain and improve the country's creaky infrastructure. "This shows that we need...
...must start spending again, and we will. But we've all known people who, having survived the 1930s, never lost their Depression habits of frugality. And so it will be again. We don't need to turn ourselves into tedious, zero-body-fat, zero-carbon-footprint ascetics, but even after the economy recovers, deciding to forgo that third car or fifth TV or imperial master bathroom or marginally cooler laptop will come more naturally...
...partly because we have already been there and done that, paving the way, it has been able to develop in fast motion, cramming 100 years of development into 30. But I'm reminded of Philip Johnson's apt, bitchy description of Frank Lloyd Wright during the forward looking 1930s "as the greatest architect of the 19th century." Twenty-first century China is the greatest country of the 20th century. Muscular industrialism gets you only so far. Further increases in productivity and prosperity require ingenuity and enterprise applied at the micro scale - digital devices and networked systems, biotechnology, subatomic nanotechnology...
...program that allowed Mexican trucks on American roads, and Mexico has retaliated with tariff increases. Said World Bank president Robert Zoellick: "Leaders must not heed the siren song of protectionist fixes. Economic isolationism can lead to a negative spiral of events such as those we saw in the 1930s, which made a bad situation much, much worse...
...Great Depression. The U.S. economy was much less integrated into a global economic system then than it is now. But given the retaliation from America's trading partners after the new tariffs were applied, few would argue with Zoellick's assessment that the contraction of trade in the 1930s made the long downturn worse than it needed to be. "Protectionism," British Prime Minister Gordon Brown told TIME recently, "is the road to ruin...