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...Because the members of today's graduating class--and some of your professors--were not yet born in 1975, let me begin by briefly surveying the economic landscape in the mid-1970s. The economy had just gone through a severe recession, during which output, income, and employment fell sharply and the unemployment rate rose to 9 percent. Meanwhile, consumer price inflation, which had been around 3 percent to 4 percent earlier in the decade, soared to more than 10 percent during my senior year.1

Author: By Crimson News Staff | Title: Full Text of Ben Bernanke's Class Day Speech | 6/4/2008 | See Source »

According to the agency report, oil production in the United States, the North Sea, and the USSR will stagnate by the late 1980s and even OPEC output will drop due to “declining reserves in some countries and political decisions in others.” At the same time, the energy needs of Third World countries will increase dramatically thanks to economic development, increasing urbanization, and industrialization. So a large group will be fighting for a smaller...

Author: By Antony J. Blinken | Title: Guzzling Away | 6/2/2008 | See Source »

...advantage of this exhibition, organized by Paul Schimmel of the Museum of Contemporary Art in Los Angeles and installed in its New York City venue by Nan Rosenthal, that it doesn't have to give space to Rauschenberg's all too massive later output, that endless madcap extrusion. The combines were among his indisputable triumphs, and seeing them on their own makes you realize all over again their liberating power. They offer you a puzzle and dare you to unpuzzle it. Go ahead and try?as long as you're not the type who needs all the pieces...

Author: /time Magazine | Title: Art: The Misfits | 5/13/2008 | See Source »

...Smith, Friedrich Hayek) and writing even more (cartooning for the Huffington Post; blogging from the perspective of the main character in his new Broadway play, November; writing articles for magazines; composing essays about the theater) that he's like an increasingly efficient machine, his efforts all cleanly converted to output. "I'm in the best shape of my life," he tells me, as if I need convincing. "Strong, moderately lean, great cardio...

Author: /time Magazine | Title: Martial Arting With David Mamet | 5/8/2008 | See Source »

...cycle that starts this month, though it's not yet clear where that money would come from or how the financing would work. But analysts suggest that of the participating countries, Nicaragua - precisely because of its agrarian backwardness - offers the best conditions for a major boost to regional agricultural output...

Author: /time Magazine | Title: Nicaragua's Great Leap Forward | 5/8/2008 | See Source »

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