Word: scaling
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...cruising along as members of an impossibly large leisure class. (That was always the yuppie dream: an aristocratic life achieved meritocratically.) Now that our age of self-enchantment has ended, however, each of us, gobsmacked and reality-checked by the new circumstances, is recalibrating expectations for the timing and scale of our particular version of the Good Life. Which, of course, fuels the ferocious anger at the Wall Street rich even now getting richer with subsidized eight-figure bonuses...
...past two centuries, a key to national prosperity and power was the extraordinary physical scale of our land, our population, our natural resources. China has similar advantages today, and partly because we have already been there and done that, paving the way, it has been able to develop in fast motion, cramming 100 years of development into 30. But I'm reminded of Philip Johnson's apt, bitchy description of Frank Lloyd Wright during the forward looking 1930s "as the greatest architect of the 19th century." Twenty-first century China is the greatest country of the 20th century. Muscular industrialism...
...Administration's $3.6 trillion budget plan, it may be the best they can do. And so, when the President journeyed to Capitol Hill on Wednesday to rally his party's support for his agenda, he sought to make a counterargument to the rising chorus that wants him to scale back his ambitious plans to reform health care, energy and education even as he tries to save the economy and cut the deficit...
...Zoellick got it just about right. Economic historians will long argue about the relative impact of trade restrictions - led by the U.S. Smoot-Hawley tariffs of 1930 - on the scale of the Great Depression. The U.S. economy was much less integrated into a global economic system then than it is now. But given the retaliation from America's trading partners after the new tariffs were applied, few would argue with Zoellick's assessment that the contraction of trade in the 1930s made the long downturn worse than it needed to be. "Protectionism," British Prime Minister Gordon Brown told TIME recently...
...endorsement of the benefits of economic globalization to understand that we live in an interconnected world. It isn't just goods that move around the planet. The flow of people from one nation to another - people with all their myriad hopes and resentments - has been taking place on a scale never seen before. Prosperity does not solve everything, God knows, but the world will be a safer place if those who have recently escaped poverty are not now told by those who have never known it that they have to accept less than they dreamed of. "We cannot deny people...