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Bretton Woods is the mountain resort in New Hampshire where in 1944 the Allied nations met--with the U.S. calling almost all the shots--to plan a postwar financial system. The Bretton Woods creations included the International Monetary Fund (IMF), the World Bank and a quarter-century of fixed exchange rates built around a U.S. dollar that was linked to gold. The fixed exchange rates and gold standard unraveled in the 1970s, and ever since we've had a system in which the IMF occasionally steps in to help countries in currency crises (usually imposing harsh terms in the process...
...June 26, 1959, Sweden's Ingemar Johansson, who died on Jan. 30 at age 76, stunned the boxing world by knocking out heavyweight champion Floyd Patterson. Patterson's four title defenses before he met Johansson had been against fighters who, at best, weren't even household names in their own households. And Johansson, a European heavyweight champion, was believed to be but another in that line, even though he had a 21-0 record with 13 knockouts...
Harvard’s ongoing uncertainty about the pace of its Allston expansion—specifically the future of the much-anticipated science complex—was met by community frustration at last night’s Allston-Brighton neighborhood task force meeting.Residents demanded that Harvard follow through on its promise of community benefits and implement them quickly, regardless of possible changes to the Institutional Master Plan that lays out the University’s proposals for expansion. Chief University Planner Kathy A. Spiegelman said that the troubled economic climate is forcing the University to analyze all capital projects...
...week, Reuters reports. The announcement would come as a flurry of Harvard professors—including many of Carter’s colleagues at the Kennedy School—prepare to head south for Washington to join the Obama administration. News of Carter’s likely appointment was met with approval at the Kennedy School, where many of his colleagues pointed to both his Pentagon experience and his academic credentials as key assets he will bring to the job. Former deputy secretary of defense John P. White—who is now a lecturer at the Kennedy School?...
...physicians, researchers, and engineers in various fields who have never directly worked in AIDS research before. Harvard Medical School professor Bruce D. Walker, who runs an AIDS clinic in South Africa, will serve as the Institute’s first director. “I was the one who met with Terry and engaged him in a conversation about how transforming a gift like this could be,” Walker said. “I told him about this pie in the sky idea to get a bunch of flexible funding and get really smart people together to think...