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...global financial order is, well, old. Established in 1944 and named after the New Hampshire town where the agreements were drawn up, the Bretton Woods system created an international basis for exchanging one currency for another. It also led to the creation of the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development, now known as the World Bank. The former was designed to monitor exchange rates and lend reserve currencies to nations with trade deficits, the latter to provide underdeveloped nations with needed capital - although each institution's role has changed over time. Each...

Author: /time Magazine | Title: Bretton Woods System | 10/21/2008 | See Source »

...answer, Jones writes in his book, is the creation of green-collar jobs that provide working-class employment, shield America from rising fossil fuel prices and stem carbon emissions. These are not the high-tech, high-education "George Jetson" jobs, as Jones puts it, that were created by the Internet and biotech booms. Green-collar jobs include manufacturing solar panels, insulating green homes, servicing wind turbines. These are jobs that can be filled by blue-collar workers who need jobs - and they help the environment to boot. "You can put the country back to work with green solutions that...

Author: /time Magazine | Title: Saving the Working Class with Green-Collar Jobs | 10/20/2008 | See Source »

...views of the writer's work. "Everything that the writer lives through can somehow reflect in his work," wrote Czech novelist and playwright Ivan Klima, a contemporary of Kundera's in a Czech newspaper. "Perhaps only a subconscious need to come to terms with [an experience] can ignite the creation of great work. That is a paradox of creation and, in effect, of life itself." Speaking to TIME, Klima added, however, that while "any piece of biographical knowledge about an author can help in the interpretation of his work, it is not decisive." The Czech writer Jaroslav Hasek...

Author: /time Magazine | Title: Was Milan Kundera a Communist Snitch? | 10/18/2008 | See Source »

...Harvard’s acting CFO since Elizabeth Mora’s abrupt departure last May. After Mora’s resignation, University President Drew G. Faust said in an interview that she was unsure whether the position would ever be filled again, in light of the recent creation of the position of executive vice president. And last month, Faust said that the decision whether or not to appoint a new CFO would be left to the new executive vice president, Edward C. Forst. According to a press release, Shore, who will report to Forst, “will...

Author: By Wyatt P. Gleichauf, CONTRIBUTING WRITER | Title: University Chooses New Finance Chief | 10/17/2008 | See Source »

...savings, homes—and who are loathe to gamble on a candidate whose entire campaign is based on change, when change is destroying them.Hillary understood Levittown. She pandered to it with duck-shooting faux Rust Belt authenticity, but also with tangible proposals for health care, energy, and job creation. And if she offended us when she argued that “Obama will have trouble appealing to white voters,” she was, unfortunately, exactly right. It has become increasingly clear that John McCain understands this reality, too: with his characterization of Obama as “dangerous...

Author: By Elise Liu | Title: Red, White, and Blue | 10/16/2008 | See Source »

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