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CORRECTION: This editorial incorrectly stated that 46 percent of citizens did not vote in the 2004 presidential election. In fact, 36 percent of citizens did not vote. The Crimson regrets the error...
...known in finance as “short-selling,” is now banned in the United States and Britain. According to South China Morning Post, Chinese banks were recently told to suspend lending to U.S. financial institutions. The weak dollar caused import prices to surge by 20 percent from last year, which should have helped local enterprises; it has provided an advantage to some businesses but it also increased prices for most American consumers...
...they almost certainly would have forecast a steeper downturn, with many more layoffs.” That is a striking insight. It is unpopular to say that the U.S. economy is resilient when firms are failing, but what story is told by the facts? Unemployment now exceeds 6 percent in the United States but it declined by 159,000 in September. In France, for example, the unemployment rate was nine percent (or more) in nine out of the last 12 years. As the U.S. outlook worsens, it is worth remembering how other, comparable countries are performing...
...removal of the tax-exemption status of American universities is much greater than the benefit would be. That said, American universities need to do the good work that justifies their exemption from taxation. All schools should be required by the U.S. government to spend at least five percent of their endowment every year. The complaint from schools in recent years that they don’t have a consistent need to spend that much is unfounded; universities can use leftover money to subsidize textbooks or other outside costs that add to the financial burden on the student. While...
...doubt there is a correlation between socioeconomic status and SAT scores. A survey of SAT-takers in 2003 revealed that only 14 percent of students who scored over 1420 were from families in the bottom 40 percent of income brackets. Moreover, 46 percent of those test-takers scoring over 1420 came from families in the top quintile in income level. Critics of the current SAT believe this demonstrates the degree to which test scores are determined by background and preparation. In fact, this does not actually explain the numbers. A 2005 College Board survey found that, on average, SAT tutoring...