Word: america
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Over the past decade, though, reality took a detour from Philippon's theory. Corporate America's need for outside financing fell, but the financial sector refused to shrink; it pumped out ever riskier products until the system nearly collapsed. Why the refusal? Maybe the pay was too good. Philippon and the University of Virginia's Ariell Reshef have found that, starting in the mid-1980s, financial-sector paychecks began to outstrip those for jobs in other sectors demanding similar skills and education levels. Since the late 1990s, Philippon and Reshef estimate, 30% to 50% of financial-sector pay has amounted...
...platform that he has come to refer to as “Big Citizenship.” Khazei noted that “for too many people, the American dream has become a dream deferred,” and said that community service is the mechanism by which America could recreate itself as a land of opportunity...
Twenty-three college presidents in America make more than $1 million each year. Harvard’s Drew G. Faust, fifty-sixth overall, is not one of them...
Less than 1% of America's 1.4 million troops are Muslim - and that number is only the military's best guess, since just 4,000 troops have declared their faith in their service records. By all accounts, the percentage of Muslims who are outstanding, competent or misfit soldiers is proportional to that of every other ethnic group. But that logic is increasingly hard to hear in the aftermath of Major Nidal Hasan's killing spree at Fort Hood in Texas...
What reform could dramatically remake America and become law by Christmas? Not health care. While a health care bill crawls through the Senate, bills of equal significance are speeding through the Banking and Finance committees of both chambers of Congress and will share the spotlight this week on Capitol Hill. And because of the odd politics of finance, and an aggressive behind-the-scenes push by the Obama Administration, real financial reforms have a better chance of becoming law by the end of the year than an overhaul of health care...