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Before Prop 13, in the 1950s and '60s, California was a liberal showcase. Governors Earl Warren and Pat Brown responded to the population growth of the postwar boom with a massive program of public infrastructure - the nation's finest public college system, the freeway system and the state aqueduct that carries water from the well-watered north to the parched south. When Ronald Reagan was governor, he actually raised taxes. Then Proposition 13 shot the tires out of Pat Brown's liberal state. Liberal legislative leaders such as Willie Brown and John Burton jerry-rigged repairs and kept the damaged...

Author: /time Magazine | Title: The Legacy of Proposition 13 | 6/27/2009 | See Source »

...ubiquitous a media sensation was Fawcett in that year of grace that she was written into magazine pieces on utterly unrelated topics. A June 1977 TIME cover story on the health boom began with this larkish "BULLETIN: Noted Physical Fitness Enthusiast Farrah Fawcett-Majors will appear in the tenth, 20th and 30th paragraphs of this article, jogging nude around the Central Park Reservoir, pausing every 50 yards to give a demonstration of rope-skipping. Aerobics points will be awarded to readers." The same summer, New Times magazine put her on the cover with the tagline: Absolutely Nothing in This Issue...

Author: /time Magazine | Title: Farrah Fawcett: The Golden Girl Who Didn't Fade | 6/26/2009 | See Source »

...Despite the boom in construction that took place before the global recession, there are few towers in Dubai that offer space or facilities for artists. It was precisely for this reason Sheika Lateefa al-Maktoum, daughter of the late ruler of Dubai, Sheik Maktoum bin Rashid al-Maktoum, founded Tashkeel - an unassuming arts center comprising exhibition spaces, painting and film studios, a darkroom and a digital-printing lab. (Read about Dubai real estate after the recession...

Author: /time Magazine | Title: More Than a Mall: Inside Dubai's Growing Art Scene | 6/24/2009 | See Source »

...generation that could help: "[T]he echo-boom generation is replacing the far smaller baby-bust generation in the young-adult age group. Indeed, the echo boomers are entering their peak household formation years of 25-44 with more than 5 million more members than the baby boomers had in the 1970s. The echo boomers will help keep demand strong for the next 10 years and beyond, bolstering the markets for rentals and starter homes...

Author: /time Magazine | Title: The State of the Nation's Housing | 6/23/2009 | See Source »

...traders" and co-authored a series of academic papers showing how their errors could move prices) and lamented at the 1984 meeting of the American Finance Association that "virtually no mainstream research in the field of finance in the past decade has attempted to account for the stock-market boom of the 1960s or the spectacular decline in real stock prices during the mid-1970s...

Author: /time Magazine | Title: The Myth Of the Rational Market | 6/22/2009 | See Source »

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