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...companies cannot effectively do business in Iran. Similarly, US diplomats are unable to make credible promises. If the US re-establishes official relations, American oil companies—who have some of the most advanced petroleum extraction technologies in the world—could easily increase Iranian oil output to its pre-revolutionary output. Reviving the Iranian oil industry to this standard could bring the country nearly $7.5 billion monthly, a massive sum for a country whose annual GDP is around $760 billion...

Author: By Matthew H. Ghazarian | Title: It’s Diplomacy, Stupid! | 1/28/2009 | See Source »

Obama’s economic team has filed a comprehensive report on ARRP. According to New York Times economist Paul Krugman’s analysis of the report, “the plan would close only around a third of the output gap over the next two years.” Furthermore, it will only lower unemployment from about 9 percent to 7.5 percent, while the economy’s target unemployment rate, the natural rate, is about 5 percent. By the standards of the president-elect’s own economists, the plan will leave America with high unemployment...

Author: By The Crimson Staff | Title: Weak Stimulus | 1/15/2009 | See Source »

...study that a phenomenon called the "Hawthorne effect" may be largely responsible for the checklist's success. The effect was named for a series of experiments designed to determine how to increase productivity at a factory in Chicago. All of the tactics implemented by the study leaders improved worker output during the experiments - but researchers realized that the effect they were really measuring was a boost in motivation among workers who knew others were watching...

Author: /time Magazine | Title: Study: A Simple Surgery Checklist Saves Lives | 1/14/2009 | See Source »

...Motown. And while the Jackson 5 was on the rise, most of the rock-steady Motown acts of the early '60s were on the wane. In 1971, though, the label released what is arguably its grandest artistic statement, something not at all of a piece with its previous, poppy output. Marvin Gaye put out What's Going On, a thoughtful, socially conscious album whose title track Gordy famously called the worst song he had ever heard. A year later, Motown deserted Detroit for L.A. and Stevie Wonder turned 21, thereby taking creative control of his music. Within four years...

Author: /time Magazine | Title: Motown | 1/12/2009 | See Source »

...draw upon a huge reserve of rural labor. People have moved from rural China to a number of large industrial cities in the interior of the country, many of which now have populations in the millions. Factory complexes were built in these same areas. As long as demand for output moved up, the labor forces in these regions grew. China created its own middle class which made and consumed goods at record rates...

Author: /time Magazine | Title: The Last Pillar of the Chinese Economy Falls | 1/12/2009 | See Source »

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