Word: dollarization
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...problem is, it's not getting better fast enough, and it's not getting better for everyone. One billion people live on less than a dollar a day. They don't have enough nutritious food, clean water or electricity. The amazing innovations that have made many lives so much better - like vaccines and microchips - have largely passed them by. This is where governments and nonprofits come in. As I see it, there are two great forces of human nature: self-interest and caring for others. Capitalism harnesses self-interest in a helpful and sustainable way but only on behalf...
...part of a movement to put a computer on every desk and in every home. Ten years ago, Melinda and I started our foundation because we want to be part of a different movement - this time, to help create a world where no one has to live on a dollar a day or die from a disease we know how to prevent. Creative capitalism can help make it happen. I hope more people will join the cause...
...been an impressive performance, especially coming from a member of the lame-duck Administration of an unpopular President. What's not at all certain, though, is whether it's all going to work - to revive housing, prevent recession and avert a future mortgage bailout of epic, trillion-dollar proportions. The candidates for President are watching closely: both Barack Obama and John McCain have generally endorsed Paulson's actions, but it's clear that - with Obama's candidacy propelled in part by economic discontent - McCain has a greater stake in the current Administration's success. Either way, the next President...
...most high-profile relationship-building efforts were with the Chinese government, in a series of top-level meetings in Beijing and Washington. These weren't a flop - Paulson proudly points to the failure of anti-China trade legislation in Congress and the 20% rise in the yuan vs. the dollar - but they weren't a dramatic success either. Then came trouble, which spread from subprime mortgages to financial markets in general in August 2007. The chief connection was that subprime loans - those sold to less qualified borrowers - were purchased and repackaged by Wall Street into supposedly low-risk investment products...
...carbon emissions, although the candidate himself seems not to fully understand that a hidden carbon tax is involved. McCain's opposition to disgraceful boondoggles like the farm bill, which Obama favored, is a real strength, as is his clarity about the economic advantages of free-trade agreements - a weak dollar makes exports the most promising area of economic growth. But for every proposal, there is a conflicting counterproposal: McCain wants alternative-energy research and development, but he would freeze nondiscretionary domestic spending, which would limit the government's puny alt-energy efforts. "He hasn't talked very much about...