Word: capitalisme
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The Russian people have been lied to for centuries. Generations of Czars spun visions of a world that eventually proved to be an illusion. The communists, their ideology and the Soviet state turned out to be illegitimate as well. Little wonder that today's citizens are confused and distrustful, wondering...
But while the current financial collapse may cause panic outside the country, for Russians life goes on as usual. The manufacturing sector, after all, failed from the start: State-owned factories -- churning out goods that people no longer wanted -- were unable to adapt to a market in which consumers had...
Could this be the face of 21st century capitalism? You'd better believe it. Two years ago, conventional wisdom still derided the World Wide Web as an amusing toy with little practical application. No more. With striking speed, the business that Yahoo (or, as the company formally calls itself, Yahoo...
The geeks have usurped an old financial term, disintermediation, and given it a new meaning to describe what happened to Britannica. To them it means the removal of middlemen, the intermediaries who smooth the operation of any economy--folks like travel agents, stockbrokers, car dealers and traveling salesmen. These people...
This is a story of ingenuity big and small, noble and flat out cash driven. It all began, for sure, at the very foundation of American capitalism. The lemonade stand.