Word: globalization
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Dates: during 2000-2009
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...hasn't always been true. The economic benefits of the Olympics for host cities are at best mixed, and the opening bravado often descends into recrimination and regret. Of course, there are obvious benefits for an Olympic host city - primarily the opportunity to showcase itself in front of a global TV audience numbering in the billions. Indeed, many view the Olympics as the ultimate infomercial to help attract business and foreign direct investment...
...airplane you create redundancies to try to mitigate bad outcomes, but as we saw earlier this year with Air France 447, when certain cascading events line up, they can lead to a disaster that you just can't anticipate. In the realm of the social, we create institutions like global, interconnected markets. By and large when investors are operating with some degree of diversity, when they're thinking about things differently - time horizons, trading strategies - the markets are basically efficient. But what we know is that people episodically coordinate their behavior. They all become optimistic or pessimistic, and that leads...
...streamline the newly expanded organization. In June 2008, Irish voters roundly rejected the treaty in the only national referendum to be held on it, sinking the hopes of E.U. backers across the continent. In the 15 months since that vote, however, Ireland's fortunes have changed dramatically in the global recession, and the government and many prominent business leaders are now urging residents to vote yes, saying this may be the only way to ensure the Celtic Tiger bounces back. (See 20 reasons to love the European Union...
...pictures of the global financial crisis...
...given the looming specter of climate change, they may have to find a way sooner rather than later. The prospect of another typhoon this week underscores environmentalists' concern that shifts in global temperatures may mean increasingly extreme weather patterns for coastal cities like Manila. "[Ketsana] was a startling, unique event," says Herminia Francisco of the EEPSA in Singapore. "But then I think this is going to happen more and more frequently in the future." (See a TIME graphic on destructive weather...