Word: america
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...borrowed money, make them more efficient and then resell, turning a profit in the process. These days, nearly 1 in 10 nongovernmental employees works for a private equity-owned company, and that, says longtime industry reporter Josh Kosman, is a big problem. In his new book, The Buyout of America: How Private Equity Will Cause the Next Great Credit Crisis, Kosman argues that private-equity firms not only pillage the companies they buy, but also put the broader economy at risk by making those companies take on copious amounts of debt. TIME's Barbara Kiviat spoke with Kosman about where...
...idea of a “new Louisiana purchase’’ is more potent than trying to explain an anomaly in the Medicaid system to the body politic. It’s worth remembering, though, that the Louisiana Purchase wasn’t so bad for America...
Perhaps we were lulled into complacency by the exuberance of the end of the Cold War. It was a deception brought on by an unusually positive historical continuum. First, America and the Allies won World War II; then, 45 years later, with the fall of the Berlin Wall, we defeated communism too. After that, maybe we believed the world would be forever free of conflict. Some thinkers called it the end of history. Well, history did not die. It came roaring back. The old conflicts did indeed wither, but new and virulent ones arose...
...happen in this decade? Was it just rotten luck or something more? Sure, some of it was simply randomness, but I think a strong case can be made that it was more than just chance that got things so bollixed up. (See TIME's special "Out of Work in America...
...instructors are learning to be tolerant of local norms like nontraditional families and boys who cry - as well as a lot more parental input than they're used to. "In China, teachers are revered. They are not questioned," says Luyi Lien, Yinghua's Taiwan-born academic director. "In America, parents are more ... expressive of their opinions." (See TIME's photo-essay "The Making of Modern China...