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...article of faith among economists that rising global protectionism intensified the Great Depression of the 1930s. History looks back at the infamous Smoot-Hawley Act, which jacked up tariffs in the U.S., as a disastrous step that stymied the international economic cooperation needed to alleviate the worst economic catastrophe in modern history. Even the U.S. State Department says the act "quickly became a symbol of the 'beggar thy neighbor' policies of the 1930s." Between 1929 and 1934, world trade declined by about two-thirds...

Author: /time Magazine | Title: The Threat of a Global Trade War | 1/19/2009 | See Source »

That's because for the sixth straight presidential Inauguration, rabbis won't have a place on the dais. And the Jewish faith isn't the only religious tradition that continues to be snubbed. Since 1985, only Evangelical Protestants have played a part in the swearing-in ceremony. That will continue again this year when megachurch pastor Warren delivers the invocation and the Rev. Joseph Lowery, an African-American Evangelical, offers the benediction. At a time when the United States is more religiously diverse than at any other point in its history, and Obama's entire campaign was built...

Author: /time Magazine | Title: Missing from the Inaugural Dais: Rabbis and Priests | 1/19/2009 | See Source »

...list of people Americans most admired, and he prayed in fairly broad terms, referring just to "God" and using the formulation "I pray" instead of "we pray" to make clear that he was not imposing his Christian prayer on the entire citizenry. (Read Obama's words on his Christian faith...

Author: /time Magazine | Title: Missing from the Inaugural Dais: Rabbis and Priests | 1/19/2009 | See Source »

...Read Barack Obama's and John McCain's essays on faith...

Author: /time Magazine | Title: Inaugural Pastor: The Two Faces of Rick Warren | 1/18/2009 | See Source »

...past. Long after Kennedy, President George H.W. Bush spoke out about "a thousand points of light," and President Bill Clinton founded AmeriCorps to recruit more young people into public service. All those efforts were relatively effective, for a time. But never before has a sitting President put so much faith in new technology to make it all happen...

Author: /time Magazine | Title: Obama's Inaugural Internet Call to Service | 1/15/2009 | See Source »

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