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...saying deficit spending was the best engine to boost consumer demand and create jobs, Roosevelt balked. (Two years later, the economist - John Maynard Keynes - published that advice in his seminal work, The General Theory of Employment, Interest and Money, which revolutionized economic thought by debunking the widely held belief that the market naturally tends toward full employment.) (See what Obama can learn from...

Author: /time Magazine | Title: Unemployment | 11/24/2009 | See Source »

...mankind had traveled different distances along the evolutionary path - white Caucasians were at the top of the racial hierarchy, while black and brown people ranked below. [Racism] was a widespread prejudice in British society at the time, but he presented racial hierarchy as a matter of science. He also held that the poor were genetically second-rate - which inspired eugenics. (See a photo-essay on Darwin...

Author: /time Magazine | Title: The Dark Side of Darwin's Legacy | 11/24/2009 | See Source »

During the event, which was held to kick off Transgender Awareness Week, Spack said that looking at transgenderism from a medical perspective will change the public perception that it is a psychological problem...

Author: By Alice E. M. Underwood, CONTRIBUTING WRITER | Title: Doctor Promotes Medical View of Transgenderism | 11/24/2009 | See Source »

...exactly two minutes after midnight on Jan. 1, 2000, an alarm sounded at a nuclear power plant in Onagawa, Japan. Government officials and computer scientists around the globe held their breath. Was this the beginning of a massive Y2K computer meltdown? Actually, no. It was an isolated event, one of a handful of glitches to occur (including the failure of 500 slot machines at two racetracks in Delaware) as the sun rose on the new decade. The dreaded millennial meltdown never happened...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

...when we're talking about auto giants GM and Chrysler, both of which imploded after years of complicity and ineptitude by GM management and the United Auto Workers (UAW), it's more like disintegration. The UAW organized both GM and Chrysler in early 1937 - Henry Ford famously held out four more years. For decades, particularly under the leadership of Walter Reuther, who headed the union from 1946 until his death in 1970, it was able to win concessions from the automakers, bringing its members into the middle class. As long as demand for autos grew in the post...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

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