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Dates: during 2000-2009
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...countries such as the United States to lend money to certain banks in developing countries. Lenders don’t receive any interest on their loans, so this type of funding is less expensive than borrowing from a commercial bank or an NGO. Any student who has taken N. Gregory Mankiw’s course or read his textbook can tell you that if you allow markets to operate freely, new firms will enter the market and drive down profits and prices until supply equals demand. Even in developing countries today, we see that principle in action as new banks...

Author: By Charles A. Lacalle | Title: Finance in the Third World | 8/8/2008 | See Source »

...Martí's body lied: His family had paid a ransom of more than $2 million. And after the money was handed over, they heard nothing, so they went to the offices of the attorney general and the secretary of public security, as well as to President Calderón. Heads rolled: the deputy attorney general in charge of investigating organized crime was reassigned, while the attorney general and the secretary of public security had a very public fight during a Security Cabinet meeting, each blaming the other for the deteriorating security situation in the country. According to the newspaper...

Author: /time Magazine | Title: No Help for Mexico's Kidnapping Surge | 8/8/2008 | See Source »

Mexico's leftist opposition may denounce the administration of President Felipe Calderón as a government of the rich, but the rich are not so sure. In fact, they're rapidly losing confidence in the state's ability to ensure their physical safety. And the reasons for their skepticism were made clear in the recent kidnapping and murder of a 14-year-old and the arraignment of two police officers in the case...

Author: /time Magazine | Title: No Help for Mexico's Kidnapping Surge | 8/8/2008 | See Source »

Janis Ian's initiation into rock 'n' roll was early and dramatic. In 1966, at the age of 15, she recorded Society's Child, a song she'd written about an interracial romance. It raced up the charts and caused an immediate firestorm. Ian soon became pals with some of the era's greatest musical stars, including Janis Joplin and Jimi Hendrix. While she was fortunate not to meet their fates - both died of drug overdoses - Ian had her own tumultuous life. She attempted suicide, went broke, survived an abusive marriage, wrote and performed another megahit, At Seventeen, and became...

Author: /time Magazine | Title: Janis Ian | 8/7/2008 | See Source »

...capital, the leaders of the two largest parties - who rule by way of a fragile coalition government - have decided to unite to oust the deeply unpopular ex-army chief. The Pakistan People's Party (PPP) led by Benazir Bhutto's widower, Asif Ali Zardari and the Pakistan Muslim League-N (PML-N) of former prime minister Nawaz Sharif also appear to have broken their months-long deadlock over the fate of the judges that Musharraf sacked last November...

Author: /time Magazine | Title: Musharraf in the Crosshairs | 8/7/2008 | See Source »

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