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...Karl Marx theorized that capitalism was condemned to repeated depressions because of "cycles of overproduction." Marx may have got some of the details wrong: he thought the workers would be unable to buy goods because their wages would be continually pushed toward subsistence levels. Now it's more likely that consumers are using their well-above-subsistence wages to pay for noncommodities instead, such as travel, restaurant meals and personal trainers. But if Marx had hit the shopping malls last week and seen the heavy discounting--or looked on the Internet and seen the emergence of cut-rate sites like...

Author: /time Magazine | Title: Economic Slowdown: This Time It's Different | 1/8/2001 | See Source »

...definition of loyalty is also somebody like Karen Hughes or Karl Rove, who walks in and says you're wrong. I do worry about becoming encapsulated in the presidency if I don't get solid, honest opinions from people...

Author: /time Magazine | Title: Bush Speaks | 12/25/2000 | See Source »

...brother said to Lee Atwater, here's the definition of loyalty: if there's a hand grenade rolling around the Old Man, we want you diving on it first. Karl is that way. You can name 20 others, and they'd be the ones rolling the grenade. You heard them all in the course of the campaign--when times were rough, they were all the anonymous second-guessers saying, "Bush needs to have more Washington experience." That's a code word for "Bush needs to have me, so I can tell some foreign government they need to double my fees...

Author: /time Magazine | Title: Bush Speaks | 12/25/2000 | See Source »

Bush is sensitive enough about the Restoration label that he is certain to bring in new faces wherever he can. Bush would like to have his three top Texas loyalists close by in the White House: political guru Karl Rove, press attache Karen Hughes and operations chief Joe Allbaugh--if he can get him to come. (Allbaugh, who isn't keen to move to D.C., joked to TIME recently that he was "looking for lottery numbers so I can tell the Governor to 'Go to hell.'") Bush's alter ego, Don Evans, a friend going back 25 years, will probably...

Author: /time Magazine | Title: How Bush Hires | 12/25/2000 | See Source »

Sources: Prof. Karl Sigman of Columbia Univ., State of Florida, Los Angeles Times, N.Y.C. Board of Elections, New York Times, Los Angeles Times

Author: /time Magazine | Title: Numbers: Dec. 25, 2000 | 12/25/2000 | See Source »

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