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...tend to be exporters, they have also historically generated buckets of surplus dollars, which they funneled into U.S. Treasury bills, attracted by the dollar's long-term stability. This arrangement benefited the U.S., providing it with a bountiful source of buyers willing to fund its debts, despite the relatively low interest rates on offer. But with the U.S. currency in a tailspin, dollar-denominated assets are less alluring than they once were...
...opportunities to talk to people from all over the country, to see how concrete some of the problems we face are.” Teach for America (TFA) is another popular route to brain gain for many Harvard graduates. Those accepted as corps members in the program teach in low-income schools for two years in an attempt to close the achievement gap of American education. This year, Harvard applications to TFA have increased 100 percent, more than twice the national increase. To encourage participation in TFA, prestigious firms like JP Morgan and McKinsey and Company now allow graduates...
...incomplete, making gauging their students’ experience difficult. And administrators, who use teaching evaluations to allocate resources and even make tenure decisions, may only have a fuzzy picture of the quality of teaching in a given class or department.Last year, undergraduate participation in course evaluations was dismally low, as evidenced by the barrage of frantic e-mails sent by the Registrar’s office as evaluation season was drawing to a close and incentives ranging from free iPods to cash for the House with the highest response rate. It is clear that these appeals are not working...
...five economists seemed upbeat about the resumption of growth worldwide and relieved that investment is picking up and confidence appears to be returning to both consumers and business. But while the U.S. focuses on jobs and obsesses about the emergence of China as a low-cost economic colossus, European Union nations have turned inward. They are preoccupied by the addition of 10 new E.U. members this year, by the tussle over a new European Constitution and by the collapse of the Growth and Stability Pact, which imposed rigid discipline--overly rigid, critics say--on governments to curb deficits. Europeans...
...issue, Tyson said, is this: At what point does a growing structural federal budget deficit undermine international confidence in the U.S. economy? For the moment, Asian central banks are helping fund the deficit by buying dollars. That's keeping their trade with America on track and U.S. interest rates low, and effectively financing the worldwide expansion. But, Tyson asked, "how long can they keep doing this?" The U.S. Federal Reserve gave a partial answer recently when it abandoned a five-month-old commitment to keeping rates low "for a considerable period"--a statement widely interpreted to mean that rates...