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...Hysteresis, Summers explained, could come from all sorts of shocks like this. And that may be what is playing out in the U.S. If you look at the three great job busts of the past 100 years - the 1930s, the early 1980s and today - you find an important difference. The Reagan recession ended with workers returning to jobs that were the same as or similar to the ones they had lost. But 1930s joblessness was structural. The jobs people lost - largely in agriculture - never came back. Workers had to move to the industrial sector, a transition helped by the demands...
...where it's easy for them to necessarily to get placed in these law firms, making $150,000 a year, so you're starting to see more of them now interested potentially in working in public service, working in government, Teach for America - those kinds of options suddenly look a lot more attractive. So I think that the trend will change in the years to come...
...talk about that a little bit - I mean, how you are both kind of cause and effect of this, and you're also in some ways the great champion of it, of these ideas and values that are changing the way civic society works. The President: Well, look, I think our campaign was an expression of people wanting to be engaged and involved in different ways. They didn't want to just be passive consumers of political television ads. They wanted to have their voices heard. They wanted to interact with their membership - or with their neighbor and their friends...
...willing than the others to pay more in federal taxes to deal with social issues like universal health care. They do not fit neatly into any political category: a third are liberal, 37% are conservative, and 28% are moderate. They are younger than the Skeptics and more diverse and look more like what America will look like in 20 or 30 years...
...early returns look good. On the morning after Barack Obama's dramatic bid to push the most ambitious undertaking of his presidency toward a goal line that is in sight and yet still out of reach, the instant polls suggested he had indeed made some headway. In a national survey by CNN, 2 out of 3 of those watching said they might favor his health-care proposal, which was a 14-point jump from before the President gave the address on Sept. 9 to a packed House chamber. But as Bill Clinton - or his wife, the Secretary of State...