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...have to do more in the 1990s than gloat over the demise of communism," says Felix Rohatyn, the Wall Street investment banker. "That demise may be due to our ideas, but the way we are now exploiting those ideas is not making us competitive with the Europeans and the Japanese. Our cities are really falling apart; our educational system is in great disarray; and in order to finance our budget and trade deficits, we're selling more and more of our businesses. Our Government is unable to govern because it has no money, or it is using the fact that...

Author: /time Magazine | Title: Freed From Greed? | 1/1/1990 | See Source »

Such things fill some Americans with a resentful sense that the Japanese are taking over the country, if not the world. But far bigger investments in the U.S. are those of the Europeans, who now face a gigantic opportunity in the collapse of East European communism. In theory, the European Community is supposed to complete its basic economic merger in 1992, when it will have free movement of capital, open borders, no trade barriers among the member nations and a common tariff on outside goods. Some now see difficulties in the new possibility of German reunification and an economic opening...

Author: /time Magazine | Title: Freed From Greed? | 1/1/1990 | See Source »

...esteem received three great blows from science. First, Copernicus proved that the earth is not the center of the universe. Then Darwin showed that man is not organically superior to animals; and finally, psychoanalysis asserted that man is not "master in his own house." The self-esteem of Soviet communism suffered all three blows at once but lumbered on for years in a dusk of denial. Despite the pretensions of Marx and Lenin, the system that bears their name is manifestly not the ordained ; design of history, not superior to all others, and not even the master...

Author: /time Magazine | Title: Gorbachev: The Unlikely Patron of Change | 1/1/1990 | See Source »

Mikhail Gorbachev is the Copernicus, Darwin and Freud of communism all wrapped in one. He wants his fellow citizens -- and his comrades -- at last to absorb this trinity of disillusionments and reconcile themselves into a whole and modern society...

Author: /time Magazine | Title: Gorbachev: The Unlikely Patron of Change | 1/1/1990 | See Source »

...Mikhail Gorbachev seeks to save Soviet communism by transforming it, his political style resembles Roosevelt's. His skills had better be at least as formidable as F.D.R.'s because the challenge he faces is even more daunting. The Depression was one rough patch in American history; for the Soviet Union, history itself has been 72 years of bad road...

Author: /time Magazine | Title: Gorbachev Touch | 1/1/1990 | See Source »

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