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...streets to burn a few cars. Britons are angry - you only need to drop the word politician into a conversation to discover just how furious they are - but their anger is of the slow-burning, passive-aggressive variety of a people who wear socks with sandals. All the mainstream parties encountered hostility on the doorstep as they campaigned for last week's elections, but Labour, as the party of government, was perceived to carry the heaviest responsibility. "When we talk about the end of New Labour - and it is the end of New Labour if it hadn't died already...

Author: /time Magazine | Title: Labour Pains: Gordon Brown is Running Out of Time | 6/22/2009 | See Source »

...right. A different editorial method will engage a very different set of literary values. Imagine a world where publishing has two centers rather than one: a conventional literary center, governed by mainstream publishing - with its big names and fancy prizes and high-end art direction - and a new one where books rise to fame and prominence YouTube-style, in the rough and tumble of the great Web 2.0 mosh pit. The two centers will affect each other gravitationally and swap authors back and forth between them, but they're not likely to eat each other. With any luck, they...

Author: /time Magazine | Title: Is Amazon Taking Over the Book Business? | 6/22/2009 | See Source »

...history of economic thought." Summers described how financial markets were often dominated by "idiots" (he later dubbed them "noise traders" and co-authored a series of academic papers showing how their errors could move prices) and lamented at the 1984 meeting of the American Finance Association that "virtually no mainstream research in the field of finance in the past decade has attempted to account for the stock-market boom of the 1960s or the spectacular decline in real stock prices during the mid-1970s...

Author: /time Magazine | Title: The Myth Of the Rational Market | 6/22/2009 | See Source »

Obama also has the political advantage in Washington. Settlements are to the mainstream pro-Israel crowd what partial-birth abortions are to the mainstream pro-choice crowd: the issue they hate talking about. Even the most powerful pro-Israel lobby, the American Israel Public Affairs Committee, which opposes public U.S. pressure on Israel, hasn't taken an explicit stance on the settlements dispute. Obama has also surrounded himself with the kind of advisers (Rahm Emanuel, Hillary Clinton and Dennis Ross) and made the kind of symbolic gestures (holding a seder at the White House and condemning Holocaust denial in Cairo...

Author: /time Magazine | Title: Why Obama Should Keep the Heat on Israel ... | 6/22/2009 | See Source »

Shut out by the near totalitarian powers of the Islamic republic, the mainstream media tracked the stream of consciousness produced by new media. Some of the material is powerful, even indelible. Particularly haunting is the 40-second YouTube video that shows a young woman, wearing jeans but otherwise dressed conservatively, suddenly falling to the sidewalk, shot in the heart. Her eyes turn to what must be a cell-phone camera, wide and shocked and dying as we stare at her. Men rush to her side and try to stanch the wound, but blood trickles from her mouth as an older...

Author: /time Magazine | Title: What the World Didn't See in Tehran | 6/21/2009 | See Source »

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