Word: free-market
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Greenspan, a former jazz musician (he played clarinet and sax) and a disciple of free-market philosopher Ayn Rand, frequently confronts such agonizing choices. As the Clinton era drew to a close, he correctly foresaw the brewing bubble in high-tech stocks. He searched for a way to alert investors, famously referring to an "irrational exuberance" building up in the stock market. But he refused to say more, believing a sudden collapse in share prices would carry more risk than allowing the market to discover the bubble itself. The high-tech balloon continued to inflate for several years after...
...certainly more believable) than big-bang social theories that turn the system upside down," Latham once said. Strip out the imagery of class hatred, the pandering to his constituency, the one-off election bribes and penalties, and what's left is a moderate: a man with a plan for free-market economics, social mobility, individual responsibility, community participation, equality of opportunity, government as an enabling agent. The earth won't move if Latham wins, nor will the lights go out all over Australia. Latham has narrowed the gap between himself and Howard. But in doing so, he has surrendered more...
Medicare has been a difficult patient for the Coalition over the years. There's no doubt many in the government would wish that this system, which clashes with its free-market principles, had never been born. But conservatives' views on Medicare have evolved from open hostility to an acceptance that, in some form or another, it's here to stay, and that to campaign on a platform of scaling it back is politically fraught. The Coalition has realized, says Medibank architect Deeble, "that Australians like Medicare. They see it as an egalitarian system that helps not just them but everybody...
...private school, on suspicion of negligence after at least 88 children died and dozens more suffered serious burns in a fire that gutted the school building. A Striking Difference PERU Labor unions claimed wide support for a 24-hour national strike to protest President Alejandro Toledo's free-market economic policies, while the government said that most employees had reported for work. Opinion polls show Toledo 's approval rating at less than 10%. MEANWHILE IN GERMANY ... Get Your Kit Off Two female Green Party politicians wrote to the German Football Association demanding that players not be penalized for taking...
...Although China now allows coal prices to float freely on the market, the government still sets the price electricity companies must pay for coal. This spring, that figure hovered at just two-thirds of the free-market price. This is meant to make electricity cheaper for consumers, but with so many industries gobbling up coal, many coal companies are loath to supply power plants. As a result, coal reserves held by China's electricity sector were down 40% last month compared with the same period the previous year. One major power plant in the eastern province of Jiangsu admitted that...