Word: globalization
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Dates: during 2000-2009
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...unfortunately, we are entering a period in which official tongues will be even more thickly wooden than usual. The main reason for that is the summit of world leaders scheduled to take place on April 2 in London. Billed as a crucially important event for the future of the global economy when it was first called just four months ago, it's now clear that this meeting is likely to be anticlimactic at best and, at worst, a dangerous failure. Clever civil servants are already working on a draft final communiqué that will suggest great progress has been made...
...help explain the unseemly bickering of the past couple weeks. Continental Europeans, with sounder banks and less fiscal room for maneuver, are rejecting U.S. calls to spend more; the U.S. and Britain, anxious not to kill off laissez-faire capitalism, are reluctant to cede to European demands for tougher global financial regulation. The old G7 countries are pushing to give the International Monetary Fund a financial boost; others distrust the IMF and want a much greater say in how it's run. Many complain that it's impossible to work with Washington because the new Administration isn't yet running...
Today's revolution is more vibrantly Islamic than ever. Yet it is also decidedly antijihadist and ambivalent about Islamist political parties. Culturally, it is deeply conservative, but its goal is to adapt to the 21st century. Politically, it rejects secularism and Westernization but craves changes compatible with modern global trends. The soft revolution is more about groping for identity and direction than expressing piety. The new revolutionaries are synthesizing Koranic values with the ways of life spawned by the Internet, satellite television and Facebook. For them, Islam, you might say, is the path to change rather than the goal itself...
...allowed to go bankrupt because Lehman Brothers had just failed and the people at the Treasury Department and the Federal Reserve worried (with reason) that another failure - in particular, the failure of a firm that wrote default insurance for banks around the world - might wipe out the global financial system and unleash an economic catastrophe far worse than what we're going through now. In short, the people at AIG FP, the very division that wrote the default-insurance contracts that dug AIG into such a hole, got their bonuses by holding the global economy hostage. (Read "How AIG Became...
...decisions. Currently, he said, students tend to make their travel plans “too late, at too high a cost, and with too little information.” The two other big winners last night were INeedAPencil.com, the free SAT prep service, and PortaGuide, an iPhone application with Global Positioning System capacities that functions as a tour guide around the Big Apple. Each of the teams represented at last night’s I3 awards ceremony had at least one undergraduate member—a stipulation of the Challenge, which was presented by the Harvard College Entrepreneurship Forum, Harvard...