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...contrast, Saudi Arabia's institutional memory of the boom and bust cycle served it well during what was the kingdom's third great oil boom of the past four decades. After the high prices of the 1970s, Saudi Arabia's economy went through a long-drawn-out slowdown as oil revenues plummeted for most of the 1980s. After a spike when Iraq invaded Kuwait, prices weakened again in the 1990s, even as Saudi struggled to pay off its (large) chunk of the bill for the first Gulf War. At the height of the Asian financial crisis in 1998, oil prices...

Author: /time Magazine | Title: Saudi Arabia's Lessons Learned | 5/25/2009 | See Source »

...differences. At the center of the web is the all-powerful central government in Abuja. Nigerians have long called for a national debate on the way the country is governed. Many want greater autonomy for the states and a fairer distribution of the oil wealth. Obasanjo, a retired general and born-again southern Christian who was re-elected for a second term last year, has repeatedly rejected such a discussion, because, says another Western diplomat, "it would just be a long-drawn-out exercise of Nigerians complaining about the obvious instead of getting on with fixing the country." But with...

Author: /time Magazine | Title: Fighting for Their Lives | 5/23/2004 | See Source »

...time Prozac (fluoxetine) swept onto the stage in 1988, the new drugs had wrought a revolution in psychiatry. Long-drawn-out talking cures were shortened or replaced by prescription pills, and some doctors found their offices filled with grateful patients. "All of a sudden, we were being told, 'Gee, doc, you're great,'" recalls Dr. Samuel Barondes, a psychiatrist and medical historian at the University of California, San Francisco. No one really understood how the wonder pills worked. Nor were they always free of distressing side effects--such as the "Thorazine shuffle," the stumbling, zombie-like gait that often accompanies...

Author: /time Magazine | Title: The Hunt For Cures: Mental Illness | 1/15/2001 | See Source »

...long-drawn-out trial would be bad for the country. Though it would be worse for the country if the jury decided that Lewis won. Any American getting beat up by a British guy is devastating. I once spent an afternoon with Lewis, and we ate lunch in his hotel room, and he drank tea. There were moments when I'm pretty sure I could have taken...

Author: /time Magazine | Title: Boxing Advice from the Hulkster | 3/29/1999 | See Source »

...Soviet economy functioned, such as it did, because it had its own internal logic. Moscow decreed the production of every tank, shoe and potato; every working-age person was supposed to have a job; and prices were stable. If the end result was not exactly according to plan -- a long-drawn-out failure, in fact -- at least the command system offered a coherent vision of what the plan...

Author: /time Magazine | Title: Economy: Why It Still Doesn't Work | 12/7/1992 | See Source »

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