Word: inflationitis
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The world economy may be slowing, but you wouldn't know it to look at the giddily bullish market for the services of the world's leading soccer players. The top clubs in England, Spain and Italy are primed to spend billions of dollars in the remaining four weeks of...
The European soccer economy is quite different from that of American sports with its carefully regulated trades and salary caps. The right to contract players can be bought and sold. And for a match-winner like Ronaldo, the driving force of a United team that finished last season as champions...
This imbalance is perhaps most evident in the city's strife-ridden labor market. The number of workers employed in the gaming and recreation sectors nearly tripled between 2003 and 2007 to 69,000, but many of the new jobs were filled by foreign workers from China, Hong Kong and...
The Indian economy is slowing this year, but even if it grows at only 7% or 8%, it will be doing far better than the U.S. and most of Europe. The Indian multinationals that have grown out of the 10-year boom look as strong as ever, with outsourcing giants...
But the 300 million or so Indians living in acute poverty are being crushed by inflation. If they thought washing the floors, driving the cars and cleaning the windows of the middle class would open the doors to a better life, they know now that they were wrong. With prices...