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...will come to exist is at the heart of the most pressing problem in the economy today. Since the start of the recession in December 2007, the U.S. has shed 8.4 million more jobs than it has gained. The unemployment rate hovers near 10%, and broader measures of labor-market woes that include underutilized workers are as high as 16.8%. Go down the nation's list of economic problems - from mortgage defaults to state-budget shortfalls - and joblessness lurks in the background. (See how some Americans are facing the prospect of long-term unemployment...
...capitalize, given its dominant position in China's booming instant-messaging business. According to estimates by Analysys International, nearly 70% of China's 400 million Internet users use instant-messaging, and of those, 80% use Tencent's system, known as QQ. That's the major reason that Tencent's market capitalization is bigger than Baidu's, and an insider at the company acknowledges that search "is very much" a target of opportunity...
...date, in fact, the only thing crystal clear is the market's verdict on Google's stand. And however noble Google's anti-censorship stand may be, one of its large institutional investors (who did not want to be identified publicly) no doubt speaks for many when he says, "There are still a lot of us who can't believe they are going to be out of the Chinese search market; that they've effectively made this choice." But out is what the world's dominant search company will apparently be. "I guess," says the investor, "we just...
...measure passed, Japan would have taken a reservation, opting out of the ban. Other countries would still be prohibited from trading with Japan, but with those $50-per-kilo ticket prices, less scrupulous nations might have been enticed into breaking the agreement. "It would have only increased the black market, and the countries that would have been most hurt by it would be the ones following the law - which is to say the European Union," Garat adds. (See "Hunting for Tuna: The Environmental Peril Grows...
Friedman was one of the most important economists during the second half of the twentieth century. In this book, he explains his approach to economic policy, which includes more emphasis on personal freedom and market mechanisms and less emphasis on centralized governmental solutions. This book is always one of the favorites of students in my freshman seminar. Both those who agree with it and those who don't appreciate Friedman's straightforward, logical prose...