Word: periodic
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...increasing rather than decreasing, but the focus on whether the economy is in recession or not can miss a lot. "I don't care about what the dating committee says. I'm concerned about longer-term issues," says Yale economist Robert Shiller. "We are in for an extended period of subnormal economic growth." Mohamed El-Erian, chief executive officer of bond-investing giant Pimco, has popularized a catchier if less informative phrase for what we're in for: "the new normal...
...Defining the parameters of this new normal is not something that can be done with pinpoint precision. I started paying attention to the news (and subscribing to TIME) during another period of economic turmoil, the late 1970s, and soon became convinced that I would never know a world in which gas was affordable, inflation wasn't in double digits and jobs were anything but scarce. Then the 1980s and '90s happened. So there is a danger in extrapolating present conditions to the future - and the U.S. economy has a wonderful penchant for surprising us all to the upside...
...library community recalls with horror the pricing fiasco that occurred when industry consolidation left academic journals largely in the hands of five publishing companies. The firms hiked subscription prices 227% over a 14-year period, between 1986 and 2002, forcing cash-strapped libraries to drop many subscriptions, according to Van Orsdel. "The chance of the price being driven up in a similar way (in the Google deal) is really very real," she says...
...decided to put a reassertion of 1930s style at the forefront of a lavish renovation project completed earlier this year. The Langham Yangtze Boutique now boasts the kind of rooms and public spaces that a tuxedo-clad Noel Coward would have enjoyed lolling about in, gimlet in hand - think period-style furnishings, a lavish deployment of geometric patterns and motifs, and a masculine color palette of chocolate, cream and deep...
Khamenei's abrupt dismissal of reform candidate Mir-Hossein Mousavi's supporters also suggests that he has lost touch with a central principle of the Islamic revolution, says Gary Sick, Jimmy Carter's top White House adviser on Iran during that period. Mousavi's supporters were mobilized by feelings of injustice, "that they've been dealt with contempt by their leaders," says Sick. "That sense of being wronged and betrayed is a driving feature in Iran," as powerful as the widespread anger over false arrest and torture by the Shah's secret police...