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...Great Depression may have been triggered by a financial crisis, but its lasting story is written in the miseries of massive unemployment. Some 25% of the labor force stood idle in 1933--a rate that never went below 14% for the remainder of the decade. No unemployment insurance backstopped laid-off workers or kept communities going when paychecks disappeared. Given the demography of a workforce in which scarcely any married women toiled for wages, a 25% unemployment rate effectively meant that nearly 1 in 4 households had no income...

Author: /time Magazine | Title: A Historian on the Lessons of the Depression | 10/16/2008 | See Source »

...artificial and arbitrary extraction.Most importantly, perhaps, we owe our understanding of philosophy to the Greeks who developed it and the Latins who preserved it for us somewhat intact. The metaphysics and natural science first discoursed upon in Plato’s Academy and Aristotles’s Lyceum laid the basis for modern rational thought and technological progress. These philosophers also first presented to us the problem of politics as we know it. “What is the best political regime?” and “What is the best way of life...

Author: By Christopher B. Lacaria | Title: Et Tu, Brute? | 10/15/2008 | See Source »

...what the untrained eye would see.” Harms only played high school soccer for one year, losing a season due to a broken toe. But that hasn’t stopped the freshman from achieving success in what looks to be a promising collegiate career. Despite his laid-back California style, Harms has a strict routine he goes through in preparation for every match. “I usually listen to my music before games,” said Harms. “I’m particular about my warm-up. It’s a pattern...

Author: By Melissa Schellberg, CONTRIBUTING WRITER | Title: Rookie Proves His Mettle in the Net | 10/15/2008 | See Source »

...this round on style and disposition. Both candidates supported the bailout, and both call for tax cuts and policing of markets, but in tenor, they were polar opposites. Temperament is in the eye of the voter. Is one response evidence of composure and self-possession - or of being too laid-back and unassertive? Is the other response a sign of urgency and decisiveness or a frantic lack of control...

Author: /time Magazine | Title: The Temperament Factor: Who's Best Suited to the Job? | 10/15/2008 | See Source »

...again on Monday for fear the markets would dissolve into thin air. Some Russian banks have started calling in credits before they are due; others have stopped issuing credits altogether. Layoffs are expected, and Big Business even wants the government to reduce the required two months' severance pay for laid-off workers to a single month. Meanwhile, in the past two months, Russia's hard currency reserves have plummeted $51 billion down to $546 billion. Putin has just given another $50 billion to Gazprom, Rosneft, Lukoil and other energy conglomerates to pay their accrued foreign debts...

Author: /time Magazine | Title: Why Russia Is Bailing Out Iceland | 10/13/2008 | See Source »

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