Word: fixes
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Dates: during 2000-2009
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...Indian government matched that optimism with the grandly named Jawaharlal Nehru National Urban Renewal Mission, which has so far allocated more than $11 billion in long-overdue funds to fix India's cities. The money - for roads, sewer lines and mass-transit systems - comes with some very important strings attached. To get the money, state governments have to devolve more power to cities; and city governance would go hyper-local, giving some control over the spending to new, elected neighborhood councils. (See pictures of the tempestuous Nehru-Gandhi dynasty of India...
...relevant during the current recession, when the U.S. is also looking to alternative transportation projects like passenger rail to help jump-start the economy. "We're not saying paralyze traffic or penalize drivers," says TFA spokesman David Goldberg. "But we have to restore some balance in this country and fix this deadly situation, especially for the health and safety of our kids and senior citizens...
...ADDICTION For those who crave strange and unusual designer items, Addiction (15 Gough Street) is an ideal fix. Showcasing up-and-coming designers from around the world, it purveys the kind of quirky creations you never knew you wanted, or needed, until it was too late. Look out for things like hand-knitted "creature" toys, ceramic-pigeon lamps or plaster-cast wall hooks fashioned in the shape of disarmingly expressive hands...
...roads, highways, bridges and dams into good shape. Sure, the engineers are looking for work but know that the U.S. spends only 2.4% of its GDP on infrastructure, as opposed to 5% in Europe and 9% in China. Here again, why should a politician spend money today to fix something that won't collapse until tomorrow? Especially if he or she could get re-elected by cutting taxes instead...
...fix Wall Street? By facing the music now. Toughen up borrowing requirements by banks. Increase oversight, especially when it comes to regulating derivatives. Perhaps enact a 21st century version of Glass-Steagall. And don't allow any institution to become too big to fail. Does that mean some countries may get ahead of us in terms of financial innovation? Sure, but so what? For much of this decade, both England and Iceland were considered friendlier to capital markets than the U.S. England is now threadbare; Iceland is bankrupt...