Word: reasonableness
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...agree that Western countries, development organizations and the Food and Agriculture Organization have neglected small-scale farming in the developing world, destroying rural economies under a growing population (thanks to health programs, better drinking water, etc., where so much of the money went). This is the single most important reason why 50 years of development aid did not work in Africa. But the agricultural policy, the food-aid policy and the trade barriers of the European Union and the U.S. have also done much to damage agriculture in developing countries. As long as these policies are not changed fundamentally...
There's not much to add to the first point - that really bad stuff can happen - other than to note that capitalism has just experienced the equivalent of a meteor near miss. But the second and third points demand more explanation. The reason a big federal debt undermines the dollar is that a government with really big debts will be tempted to inflate its way out by printing money to pay creditors. Printing more dollars (the process actually involves the Federal Reserve's purchasing government securities with dollars it conjures out of thin air) reduces the value of existing dollars...
Social activist Alan A. Khazei '83, one of four individuals vying to be the Democratic candidate for the late Edward M. Kennedy's '54-'56 senate seat, could be the reason that Stephen Colbert may be coming to a political forum near...
...There is reason to believe such eye-popping spending can continue. As more regions of China's vast hinterland join in its amazing economic boom, more and more of the country's 1.3 billion people can afford cars, refrigerators and flat-panel TVs items not too long ago considered luxuries for a fortunate few. Chen Baogen, Xi'an's mayor, says his city of eight million had lagged behind towns on the export-oriented coast, but now incomes are growing to the point where consumption is taking off. In the first nine months of 2009, retail sales in the city...
...perhaps there is reason for optimism, thanks to Xi'an residents like Lu Bo, shopping one recent evening for a new fridge at a Suning appliance store. The 32-year-old, who works as an salesman in the air-freight department at China Eastern Airlines, says his salary was reduced by a third last year when his company was hit hard by the financial crisis, but that hasn't stopped him from spending. With China's future so bright, he doesn't worry too much about saving for the future. "Judging from my job, my life, I think everything will...