Word: rising
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Financial analysts say those strong feelings are beginning to translate into financial decision making. The number of UBS customers closing their accounts is on the rise. Panagiotis Spiliopoulos, head of investment banking research at Switzerland's Vontobel bank, estimates that $15-20 billion in domestic funds were moved from UBS to smaller banks in recent months. In normal times, one bank expert says, withdrawals would be next to nothing. "We are fed up because UBS has betrayed all the values that make us uniquely Swiss: fiscal responsibility, stability and international credibility," says Samuel Bretholz, a Geneva sociology student...
...faces both large deficits and the need to take de facto control of parts of the credit, financial, and industrial sectors. In effect, the amount of the nation's economic activity controlled by the government will rise to a level which would have been unimaginable even months...
...cassette to CD. Quality of sound has changed in that time, leading to changes in prices, but the music that has made the leap from format to format has stayed the same. How can we say what it is really worth besides in emotional and aesthetic value?With the rise of MP3 and streaming audio, the costs of production and distribution intrinsic to older media of audio recording are being diminished and sometimes phased out altogether. Following the above history of recorded music, one would suppose that without technology cost, music would once again be “priceless...
...speech to the U.S. Congress on Wednesday, British Prime Minister Gordon Brown has called for “British jobs for British workers.” Though the rhetoric of short-term political gain is attractive, it is definitely detrimental for everyone playing the game. Economic nationalism gives rise to a prisoner’s dilemma in which the worst possible outcome prevails. If the 1930s are any sign, this short-sighted approach leads directly to further contraction of economic activity. And we know what that is called...
...culture that regards everything as either classwork or extra-curricular activity, religion has become just another extra-curricular, one that sometimes conflicts with fly-fishing club. But you could rise through the ranks to become president of that fly-fishing club, and “attended church” looks funny on your resume. This is why it is critical that Harvard students get the chance to engage with religion inside the classroom as well as beyond. Otherwise, faith runs the risk of becoming just like Memorial Church—something that’s clearly there at Harvard...