Word: capitalisme
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How could things go so wrong so fast? One reason is that Asia's "tiger" economies had a virtually unlimited credit line from the world's bankers. The easy money combined with easy virtue in places like Indonesia, where an authoritarian government and crony capitalism led to corruption, poor corporate...
In Thailand the crisis put an end to what an analyst calls "golf-course capitalism" and raised the specter of domestic unrest. With credit growth far exceeding the growth rate of the economy, Thais had been investing in increasingly risky assets, dozens of golf courses among them. "Capital will be...
But Gehry was astute in framing his design. He didn't want it to defer to the town architecture, but he did want it to chime with other aspects of Bilbao, particularly its industrial landscape: to commemorate its former power and presence. All along the Nervion are shipbuilding yards, loading...
Capitalism failed in China as early as in the Qin Dynasty, and kept failing due to internal and external reasons too much to exhaust. Theocracy, military dictatorship, none of them survived. Socialism is not a choice but a fate, the only way that preserved this feudalistic machine in this modern...
And like puppies in a pet store window, the Streeters below were on their best capitalism-is-good-clean-fun behavior: the Dow closed up 60 after a particularly unexciting session. Try it, Jiang. Maybe you'll like it.