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...concept of wisdom in eastern and western cultures: "Takashi and Bordia showed four groups of college students - one American, one Australian, one Indian, and one Japanese - all the possible pairings of the seven adjectives 'wise,' 'aged,' 'awakened,' 'discreet,' 'experienced,' 'intuitive,' and 'knowledgeable.' When the students were asked to rate which two adjective were most similar to each other, the western students chose 'wise' and 'knowledgeable' or 'wise' and 'experienced,'' whereas the easterners most associated 'wise' with 'discreet...

Author: /time Magazine | Title: What Do Old People Know, Anyway? | 1/2/2009 | See Source »

...staircases, dramatic columns, oversize furniture and even a giant lamp in the middle of the pool to create the feeling of walking through a fairy tale. Check out the hotel's spa, rooftop bar, five-star restaurant, two swimming pools and hammocks strung throughout the garden. The special starting rate is $195 per night. After March, rates start at $375 per night. 1100 West Avenue, Miami Beach...

Author: /time Magazine | Title: Travel News: An Inauguration Day How-To | 1/2/2009 | See Source »

...remarkable achievement for a currency whose only global rival is the U.S. dollar. The greenback has more than two centuries of history behind it. But it wasn't until Jan. 1, 1999 that 11 E.U. countries locked their national currencies together into a fixed exchange rate. Three years later, physical coins and notes became available, replacing national cash in a massive changeover operation. (See the top 10 business deals...

Author: /time Magazine | Title: Is the Euro the New Dollar? | 1/1/2009 | See Source »

...European Commission president José Manuel Barroso credits the euro for delivering lower inflation, lower interest rates and greater price stability, and helping to create 16 million jobs. More immediately, the euro is shielding member states in this time of economic turmoil, preventing a currency crisis in addition to the credit crunch. "The euro is sheltering businesses from the exchange rate volatility, which has battered them in previous downturns," Barroso said on Monday. "To put it simply, the euro works...

Author: /time Magazine | Title: Is the Euro the New Dollar? | 1/1/2009 | See Source »

...doesn't help that the pound is wilting. Two years ago, one euro was worth just ?0.65. Now, humbled by bank crashes, government bailouts and a collapsing housing market that has forced massive interest rate cuts, Europe's currency is within a pence or two of parity with the pound. "The debate has changed from a total fantasy in the U.K.," says Jean Pisani-Ferry, director of Brussels-based think tank Bruegel. "The political obstacles still remain strong, but it has changed the perception of the U.K. as the perfect system...

Author: /time Magazine | Title: Is the Euro the New Dollar? | 1/1/2009 | See Source »

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