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...Olympics effect, if any, will be too small to matter. Our survey found that the host nations that appeared to benefit were smaller countries like South Korea where Olympics spending seemed to have a meaningful impact on overall economic activity. But China is the world's fourth largest economy. According to a 2007 report by Nomura Securities, China's Olympics outlays and tourism revenues will boost the GDP growth rate by a miniscule 0.25 percentage points in 2008. Moreover, Beijing, the host city where the impacts are strongest, plays a relatively small role in the national economy, contributing only...
Last month, San Francisco’s ban on the polyethylene plastic bag—cheap, convenient, and 100 percent recyclable—celebrated its first anniversary (although it has only been in effect since September). The ban banished the bags from 50 of San Francisco’s largest supermarkets and has reportedly reduced usage by five million bags so far. In its place: Government-mandated paper bags, compostable plastic, and reusable canvas sacks...
...attendees had to create their own outfits to match the star’s signature style. Backstabbing friends were not provided. This event is only the latest in a long tradition of bizarre world records in the Ivy League. For example, Harvard students held the record for the largest conductor’s baton until The University of Pennsylvania’s band debuted their own rod—over 15 feet long—at their homecoming game last October. And in 1972, a dedicated group of Harvard students set a record for the longest monopoly game, playing...
...clearance. First, the plan is nearly pain-free for the state: commercial banks, not the government, would provide the zero-interest loans to purchasing clients in exchange for tax breaks for supporting the arts. Complex rules and restrictions that have limited corporate investment in art to only the largest French companies are also to be relaxed and simplified to encourage smaller businesses to get involved. Similarly, loosening tight regulations on large art auction houses would aim to stimulate that trade, and in doing so increase tax revenues...
...withdrawal of the Syrian troops that had been garrisoned in the country for decades, as Damascus acted as the dominant influence in Lebanese politics. Despite the withdrawal of its troops and the creation of the pro-Western government, Syria has continued to exert political influence through Hizballah, Lebanon's largest political party also backed by Iran, and its Christian allies under General Michel Aoun...