Word: imperfections
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...SWIFT IS THE KIND OF COP who doesn't have to worry about pockmarks. Unlike the physically imperfect lawmen who now populate prime-time TV--the Dennis Franzes and Jerry Orbachs--Mac's skin is invincibly smooth. Nothing, it seems, can scar him as he dodges punches and pummels bat-wielding thugs with an assured agility that seems to say, "Hey, I'd look even better toppling Christy Turlington on a sandbar in Maui." Happily for Mac, his appearance isn't all he has going for him. Smart enough to have developed an immensely profitable software program, this New York...
...free trade is the answer. Rather, the United States should discard the obsolete notion that free trade is the best alternative in every case and instead selectively engage in protectionist practices both to force other nations to lower their own trade barriers and to benefit U.S. companies competing in imperfect markets...
...same time, the United States must take a more aggressive role in subsidizing U.S. companies that compete in industries with imperfect competition. Under imperfect competition, a few companies dominate the industry due to the existence of barriers to entry and can therefore influence the market price to varying degrees. As a result, the price of a product does not reflect its cost. Rather, the price equals the cost plus an additional profit called an economic rent. These rents accrue to the companies that dominate the industry and eventually end up in the hands of the owners. In terms of international...
...social reality. Most Americans lived in cities, and the myth of the West was just that: a myth, however durable. The real frontier was urban--a place of hitherto unimagined overcrowding, of cultural collision enforced by huge-scale immigration, of rapid change, where class ground against class like the imperfect rollers of a giant machine. Its epitome was New York City--Bagdad-on-the-Subway, as the writer O. Henry called it--a city in convulsive and continuous transition, bursting at the seams with high spirits, misery and spectacle...
...task of introducing Western democracy, imperfect as it is, is going to take a long time. If you are expecting a tumultuous revolution to change it all, you are wrong again. All revolutions in China, as shown by history, have to be led by and fight for the peasants, with the top priority placed on economic aspects like equality, but never on freedom. Mao Zedong's seemingly impossible victory against the Nationalists and the U.S. is one of the many examples that quickly come to mind...