Word: modell
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Dates: during 1990-1999
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...have been East Asia's undoing. Cheap money can make people do silly things. In the 1980s it led them to pay ridiculous prices for stocks and real estate, and the fever spread from Tokyo to Bangkok. But even after the Japanese bubble burst, the experts on the Asian model justified similar excesses around the region because we were on the cusp of the Asian Century, one of limitless growth. The vaunted technocrats thought--or perhaps hoped--that they could once more invoke the Asian model to wipe away the looming mess. Only recently have most governments admitted that there...
Unfortunately that admission misses the point, for it is the top-down nature of the Asian model itself that is the real cause of the crisis. This model bred complacency, cronyism and corruption. Isolated from public opinion, just as they insulated bankers and businessmen from market forces, the technocrats ignored the deafening clamor of alarm bells that market forces have been ringing for years. Worse still, because there was no public scrutiny of the iron triangle of bureaucrats, businessmen and bankers, the natural coziness that developed in that clique led inevitably to decisions based on personal relations. At best this...
...Kooning influenced him as much. What he liked in Hopper, Diebenkorn once laconically said, was "the diagonals." Not the mood: you can't extract a Hopperish melancholy from Woman in a Window, 1957, though her face is averted. What she might be thinking doesn't count; she's a model, not a narrative. What does count is the confluence of vectors--the square window with its two planes of blue sea and sky, the tabletop rushing away to the right at a shallow angle, the triangle of the arm propping the head, and the woman's left hand drooping over...
...American officials, she spent a Saturday at Chequers, the country retreat of British Prime Ministers. Sitting around a conference table with TONY BLAIR and his political brain trust, they worked together on ways for "New Labour and New Democrats to develop policies in a complementary way that are a model for other center-left parties around the world," says Peter Mandelson, the media guru who has helped shape Blair's image...
...lovers aren't taking this kick in the rear without a yelp. "I don't think the model is threatened," says Tom Gardner, co-founder of the Motley Fool Website, where an estimated 200,000 "fools" play some version of the Dow dogs. Stan Craig, head of UIT sales at Merrill Lynch (which controls $10 billion in Dow-dog assets), notes that a buy-and-hold investor in the first "Select 10" UIT in 1991 would be up 184% by now, vs. 171% for the Dow. But clearly the advantages first noted by O'Higgins have eroded. Morningstar Inc. studied...