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...environment that's as closed, locked down and totalitarian as "the Village," where the Prisoner dwelled. Everything here is too perfect, from the mall, where you can shop for real virtual jeans, courtesy of Diesel, to your virtual home within Home, a gorgeous, modern apartment that you can fill with virtual furniture from the likes of Lignet Roset. Seriously -Diesel and Lignet are among the many who have signed up to be Sony's partners here, and Home is a platform for them to hawk their brands...

Author: /time Magazine | Title: A First Look at PlayStation Home | 12/11/2008 | See Source »

...seem counterintuitive at the moment, given the parlous state of the U.S. economy. But it is precisely because tapped-out American consumers have stopped buying Chinese-made goods that this economic rebalancing act needs to proceed with haste. The country's factories need new customers. Chinese consumers can fill that void, by spending more and reducing their stratospherically high national household-savings rate, which stands at more than 25%, compared with a savings rate in the U.S. that hovers near zero. China needs to start creating new jobs by boosting its underdeveloped service sector, which contributes just 40% to overall...

Author: /time Magazine | Title: Wanted: A New Miracle | 12/11/2008 | See Source »

...luxury good in the form of Harvard diplomas. As one commenter on DeLong’s article pointed out, “the rationale for Harvard is not the education of young people. It is to produce a certain class of educated person who will go on to fill a certain role in society.” The University shouldn’t be ashamed of this, but it also ought to admit that, in the end, it is a privately-interested organization which happens to have quite a few socially beneficial consequences...

Author: By Garrett G.D. Nelson | Title: Taxes and Duties of the Private University | 12/10/2008 | See Source »

...least it was. Blagojevich, along with chief of staff John Harris, was arrested in Chicago on Dec. 9 on charges that included conspiring to commit wire fraud and soliciting bribes in exchange for the Illinois Senate seat - vacated by President-elect Barack Obama - that Blagojevich was obligated to fill. If convicted, Blagojevich, who turns 52 on Dec. 10, faces up to 30 years in prison. What a birthday...

Author: /time Magazine | Title: Rod Blagojevich | 12/10/2008 | See Source »

...real possibility, you know, and therefore I can drive a hard bargain. You hear what I'm saying. And if I don't get what I want and I'm not satisfied with it, then I'll just take the Senate seat myself." - On finding someone to fill President-elect Barack Obama's vacant Senate seat, during a taped Nov. 3 conversation with an adviser...

Author: /time Magazine | Title: Rod Blagojevich | 12/10/2008 | See Source »

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