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...measure has its roots in the Great Depression and World War II. First the priority was tracking the ups and downs (mostly downs) of the business cycle in the 1930s. Then military planners needed a better way to assess production capacity. The result was gross national product (GNP), which after the war soon became the standard means of keeping economic score. It was replaced in 1991 by GDP, which measures production in the U.S. as opposed to production by Americans, but the basic idea is the same. The concept conquered the world--with Germany deserving special mention as surely...

Author: /time Magazine | Title: Don't Ditch the GDP | 4/10/2008 | See Source »

Americans took advantage of this week's congressional hearings on Iraq to assess how well John McCain, Hillary Clinton and Barack Obama handled the war issue. To Iraqis, however, all three appeared to promise the same pessimistic future; and most Iraqis seem to believe that, no matter what the campaign rhetoric is, Americans would remain in their country. Indeed, many believe that America has to remain for Iraq to survive...

Author: /time Magazine | Title: A Baghdad View of the US Election | 4/10/2008 | See Source »

...encourage students to visit campuses, consider teaching styles, and assess specific programs,” he added. “Whether it be U.S. World and News or a number of other annual ranking reports, the student’s personal assessment is most important...

Author: By Madeleine A. Bennett, CONTRIBUTING WRITER | Title: Business, Medical Schools Finish 1st In Rankings | 4/1/2008 | See Source »

...News aims to objectively assess schools based on several elements including scores on standardized tests, the average undergraduate GPA, and input from deans, faculty, recruiters and professionals. Numerical scores are assigned based on a formula that takes these factors into account...

Author: By Madeleine A. Bennett, CONTRIBUTING WRITER | Title: Business, Medical Schools Finish 1st In Rankings | 4/1/2008 | See Source »

...waves of defaulting loans as factories fold. Although Chinese banks during the current boom have been able to reduce their unusually high proportion of nonperforming loans carried on their books, declining corporate earnings will diminish borrowers' ability to repay their debts. While it's difficult to assess the overall exposure of banks to the manufacturing sector, it's easy to imagine lenders getting caught in a Chinese-style credit crisis if manufacturing contracts sharply...

Author: /time Magazine | Title: China's At-Risk Factories | 3/20/2008 | See Source »

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