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...high unemployment is going to be six months from now, you start with how high it is today. If the economy isn't stable and the old relationships don't hold as well as they used to, then the models break down. In recent years, there have been great advances in economic modeling, says Stock, but forecasts haven't necessarily gotten much better since the economy itself has grown more complex...

Author: /time Magazine | Title: Why Are Economists So Bad at Forecasting? | 7/17/2009 | See Source »

Ironically, Ruggiero’s staging, which he hopes will underline the characters’ humanity, stresses the musical’s larger message: Civilization requires restraint. Arthur is a great king not because he feels emotion as all of us do, but because he resists emotion, as few of us do. He resists emotion to build something greater, the rule of law. When he decides to forgive Guenevere, he declares, “This is the time of King Arthur, when violence is not strength and compassion is not weakness.” At the finale, Arthur speaks...

Author: By Brian J. Bolduc | Title: One Brief, Shining Moment | 7/17/2009 | See Source »

Even people who don't live in New York City feel familiar with the department, thanks to shows like NYPD Blue and the ubiquitous logo on hats and T-shirts. What are some things they may not know? It's truly one of the great institutions in the world. There's very little they cannot do when they set their minds to it. The "Son of Sam" serial-killer case was solved by real detective work. They landed helicopters on the roof of the World Trade Center in 1993 to rescue victims after the bombing. But at the same time...

Author: /time Magazine | Title: The Hidden Side of the NYPD | 7/17/2009 | See Source »

...couldn't Sotomayor acknowledge that Justices often legislate from the bench? She cited as her judicial hero Justice Benjamin Cardozo, who served on the Supreme Court from 1932 to 1938. Sotomayor praised Cardozo for his "great respect for precedent and his great respect ... and deference to the Legislative Branch." But Cardozo wasn't always an advocate of judicial deference. In his most famous book, The Nature of the Judicial Process, Cardozo called a chapter "The Judge as a Legislator." Like legislators, Cardozo wrote, judges must get their experience "from life itself," and when the law isn't clear, a judge...

Author: /time Magazine | Title: What's Wrong with Judges Legislating from the Bench? | 7/16/2009 | See Source »

...China's Foreign Ministry rejected the criticism. "We attach great importance to the stable development of economic and trade relations, but we are firmly opposed to anyone stirring up the case and interfering with China's independent judicial authorities," said spokesman Qin Gang, according to the Associated Press. "This is not in the interest of Australia...

Author: /time Magazine | Title: China's Rio Tinto Case Gets Uglier | 7/16/2009 | See Source »

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