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...because of uncertainty in the market, interviews and offers are misallocated from those who should ideally receive them, those most qualified and committed for a given job—a labor market failure. Conversely, opportunistic applicants are errors in selection against the interest of employers who want hires to remain at their company. Far more typical of the Harvard student, opportunistic interns intend to gather the experience and move on to a preferred job that is presently unavailable. This is largely why offering paid freshman and sophomore summer internships go against the interests of most employers under the present system...
...pimple-faced pages and the C-SPAN cameras in his latest well-sourced broadside against the conventional wisdom on Wall Street and in the White House. "Unless Congress breaks up the megabanks that are 'too big to fail,' " he declared to an empty chamber, "the American taxpayer will remain the ultimate guarantor in an almost-certain-to-repeat-itself cycle of boom, bust and bailout." (See the top 10 unfortunate political one-liners...
...Here's an example of where China wants to both secure its interests and avoid conflict. The real puzzle about China's currency isn't just the value of the renminbi. It is, rather, how open China will be to flows of money. China has three choices: it can remain unplugged from the global system, it can plug in gradually, or it can say, We're the largest developing country in the world and everyone wants to invest here, so we're going to make our own rules. This is the sort of challenge China will pose in many areas...
...Belgium, Italy, Germany and the Netherlands remain de facto nuclear powers Yes, that's right. The mighty Belgian air force is nuclear-armed. Although none of the four countries have their own nuclear weapons, there are an estimated 200 B-61 thermonuclear-gravity bombs scattered across their land. And under a NATO agreement that was struck during the Cold War, the bombs, which are owned by the U.S., can be transferred to the control of a host nation's air force in times of conflict. The NPR declares that these weapons "contribute to Alliance cohesion and provide reassurance to allies...
...mind who found clinging to an elusive ideal more desirable than all the pride and glory of great wealth and great armies,” Hickman exclaims to himself, ”Yes! And with all I know about the things you had to do to be you and remain yourself—Yes! You are one of the few who ever earned the right to be called ‘Father.’” In this moment, the reverend discovers his power to forge his own meaning from a confused reality...