Word: economists
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...back in 1998," says Eric Berglof, chief economist at the European Bank for Reconstruction and Development in London, who reckons the financial-market problems will result in a "smallish blip" in the economy rather than any bigger meltdown. Certainly, the situation today is very different from a decade ago, he and others point out: Russia currently has a whopping $550 billion in foreign-currency reserves, a hefty budget surplus, a negligible national debt and an economy that remains on course to grow by 7% this year. The fount of much of the nation's newfound wealth...
...Neither of these men is an economist, and after eight years of an MBA President, America will forgive them for that. What we seek is a leader who can size up a problem, explain it in a way that seems both true and hopeful and match the nation's priorities to its needs. Here's the crisis - which man is up to it? They have a month left to give us their answers...
...Economist Andrea Goldstein notes that Alitalia in the 1970s was considered an avatar of the efficient European public company. There is a certain irony, Goldstein says, that it faces its death as the free-market oriented U.S. government steps in to bail out much of America's financial-services industry and China revs its own state-run economy. "There is a paradox that as the state elsewhere returns to play a prominent role in managing national economies, in Italy the state is too weak to handle this situation," says Goldstein. The Italian economy seems to suffer from the worst...
...Lilliputians - and the complexity of the science behind it have resulted in bouts of eschatological fear of its destructive potential, with websites and even two lawsuits claiming the LHC will create black holes that will swallow up the earth. (The cover images of this week's issues of the Economist and TIME would suggest that black-hole anxiety has in fact bubbled up into the public consciousness.) But while such scenarios have been ruled out, the machine does pose a small threat to the scientists overseeing it: There's a constant risk of a helium leak, high concentrations of which...
...Still, even amidst a global economic slowdown, the outlook for the Arab economies will remain sunny. As long as oil stays above $60 a barrel, governments won't have to cut their budgets, says John Sfakianakis, the chief economist at Saudi's SABB bank. And jitters on Wall Street could sharpen the eyes of Arab regulators for the kind of irrational exuberance that got American investors in hot water. "The unscrupulous spending of the past will be slowed in the months to come, which will have a positive impact overall," says Sfakianakis. "Many Gulf economies were growing so quickly that...