Word: growth
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Ever since 1978, when President Jimmy Carter signed the Full Employment and Balanced Growth Act (a.k.a. the Humphrey-Hawkins Act) into law, Federal Reserve chairmen have had to troop before Congress twice a year to explain themselves...
...industrializing fast, however, and carbon emissions could more than quadruple over the next 20 years if the country does nothing to slow them. Ramesh pointed out that even in 2030, India's per capita emissions would still be far lower than levels in developed countries - but sheer population growth means India will become a bigger carbon emitter on the whole. In the future, developing nations will contribute the large majority of CO2 emissions, but if the world has to wait for countries like India to get rich before they begin cutting carbon, the planet is doomed...
Like Ireland, which for more than a decade boasted growth rates three times the E.U. average, Spain's once booming economy has been hit especially hard by the downturn. Spain's GDP is expected to shrink 1.6% in 2009, and the first place that young people feel the contraction is in their purchasing power. "Kids today have grown up with consumerist expectations and feel frustrated when they can't maintain them," says Alberto Saco, sociologist at the University of Vigo. "But more frustrating is what is happening to their expectations about work and housing." (Read: "Ireland's Economy: Celtic Crunch...
...question is whether the foreign community will be as forgiving. Over the past year, Indonesia has profited from the political uncertainty in regional neighbors Thailand and Malaysia, with foreign investors considering the once turbulent country as an alternative location to park their cash. Indonesia recorded 4.1% year-on-year growth in the first quarter of this year, a particularly impressive feat given the global economic crisis. A peaceful presidential election on July 8 underscored the feeling that Indonesia, just 11 years after emerging from dictatorial rule, was transforming into a democracy serious about tackling corruption and wooing foreign investors with...
...Israeli Prime Minister Benjamin Netanyahu has flatly rejected the demand for a total settlement freeze, and he won strong domestic political backing for insisting on "natural growth" construction in existing settlements. Mitchell's visit aims to finalize an agreement on this issue that both sides can live with - the Israelis want to complete some 2,500 housing units already under construction and exempt East Jerusalem from the freeze. (Read about Israeli settlers vs. the Palestinians...