Word: legacyism
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In 1996, Spike Lee - director of films from Do the Right Thing to Malcolm X to the recent documentary Kobe Doin' Work - traveled to Brazil with Michael Jackson to produce the music video for his controversial song "They Don't Care About Us." He talked to TIME about his experiences...
The key test again for the system is, Are banks able to raise equity? Are investors confident enough in their ability to judge the strength of the banks' balance sheets that they're willing to put equity into a bank? We've seen substantial progress in that area. Now we...
What has brought California to such a perilous state? How did its government become so wildly dysfunctional? One obvious cause is the deep recession, which has caused tax revenues to plunge for all states. But California's woes have a set of deeper reasons: direct democracy run amok, timid governors...
Proposition 13 was the brainchild of the late Howard Jarvis. The antitax crusader was a policy genius not unlike Franklin D. Roosevelt. Both shared an affinity for designing deep structural change that, once embedded in the political system, is nearly impossible to alter without a massive change of heart by...
That's easier said than done. The legacy of Germany's Nazi past has led to military limits being written into the country's constitution. Germany was demilitarized after World War II ended in 1945, and the process of remilitarization has only developed over time. The Bundeswehr was formed in...